PPG Industries (NYSE:PPG) Price Target Cut to $140.00 by Analysts at Mizuho

PPG Industries (NYSE:PPG) had its price objective cut by Mizuho from $150.00 to $140.00 in a research report report published on Monday morning,Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

Other equities research analysts have also issued reports about the stock. KeyCorp lowered shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. dropped their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Citigroup decreased their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. UBS Group cut their price target on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a report on Friday. Finally, Barclays lowered their price objective on PPG Industries from $144.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.25.

PPG Industries Stock Down 2.9 %

Shares of PPG Industries stock opened at $111.99 on Monday. The company has a 50-day simple moving average of $121.11 and a two-hundred day simple moving average of $124.33. The stock has a market capitalization of $25.98 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 1.99 and a beta of 1.24. PPG Industries has a 52-week low of $110.20 and a 52-week high of $145.60. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, analysts anticipate that PPG Industries will post 7.9 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Friday, February 21st. PPG Industries’s dividend payout ratio is presently 57.51%.

Hedge Funds Weigh In On PPG Industries

A number of institutional investors have recently bought and sold shares of the business. Bank of Stockton raised its holdings in shares of PPG Industries by 5.1% during the fourth quarter. Bank of Stockton now owns 5,072 shares of the specialty chemicals company’s stock worth $606,000 after purchasing an additional 244 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of PPG Industries in the 4th quarter valued at about $48,000. Legacy Capital Group California Inc. purchased a new stake in shares of PPG Industries in the fourth quarter worth about $557,000. Nicholson Wealth Management Group LLC grew its holdings in PPG Industries by 164.3% during the fourth quarter. Nicholson Wealth Management Group LLC now owns 12,636 shares of the specialty chemicals company’s stock worth $1,509,000 after acquiring an additional 7,855 shares during the period. Finally, Mattern Capital Management LLC raised its position in PPG Industries by 13.5% during the fourth quarter. Mattern Capital Management LLC now owns 68,871 shares of the specialty chemicals company’s stock valued at $8,227,000 after acquiring an additional 8,204 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other 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.