Deutsche Bank Aktiengesellschaft Cuts PPG Industries (NYSE:PPG) Price Target to $145.00

PPG Industries (NYSE:PPG) had its price objective cut by Deutsche Bank Aktiengesellschaft from $150.00 to $145.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the specialty chemicals company’s stock.

PPG has been the subject of several other research reports. Citigroup lowered their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday. BMO Capital Markets reissued an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. StockNews.com upgraded shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 12th. Mizuho lowered their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. cut their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and a consensus price target of $149.29.

PPG Industries Trading Up 0.6 %

Shares of PPG opened at $120.21 on Thursday. PPG Industries has a 1-year low of $118.07 and a 1-year high of $150.82. The firm has a market capitalization of $27.89 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.90 and a beta of 1.24. The firm’s 50-day moving average price is $124.99 and its 200-day moving average price is $126.21. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The firm had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the previous year, the firm posted $2.07 earnings per share. The business’s revenue was down 1.5% compared to the same quarter last year. Sell-side analysts anticipate that PPG Industries will post 8.18 EPS for the current year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.26%. The ex-dividend date was Tuesday, November 12th. PPG Industries’s dividend payout ratio is currently 43.11%.

Insider Buying and Selling at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the sale, the vice president now owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This represents a 12.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.55% of the company’s stock.

Institutional Trading of PPG Industries

Several large investors have recently added to or reduced their stakes in the business. Financial Connections Group Inc. purchased a new position in shares of PPG Industries during the 2nd quarter worth $25,000. Pin Oak Investment Advisors Inc. lifted its position in PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in PPG Industries in the third quarter worth about $34,000. Rothschild Investment LLC bought a new position in shares of PPG Industries in the second quarter worth about $37,000. Finally, Hara Capital LLC purchased a new position in shares of PPG Industries during the 3rd quarter valued at about $40,000. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.