PPG Industries, Inc. (NYSE:PPG) Receives $140.46 Consensus PT from Analysts

PPG Industries, Inc. (NYSE:PPG) has been assigned an average recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $140.46.

A number of brokerages have issued reports on PPG. JPMorgan Chase & Co. lowered their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. StockNews.com lowered PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, February 3rd. Barclays cut their price objective on shares of PPG Industries from $144.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. The Goldman Sachs Group decreased their target price on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Finally, KeyCorp cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th.

PPG Industries Stock Up 0.7 %

Shares of PPG Industries stock opened at $114.91 on Friday. PPG Industries has a 1 year low of $110.20 and a 1 year high of $145.60. The firm has a market cap of $26.66 billion, a price-to-earnings ratio of 24.29, a PEG ratio of 1.97 and a beta of 1.23. The company has a 50-day moving average of $119.80 and a 200 day moving average of $123.73. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. As a group, sell-side analysts anticipate that PPG Industries will post 7.96 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a $0.68 dividend. The ex-dividend date is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.37%. PPG Industries’s dividend payout ratio (DPR) is 57.51%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. PFW Advisors LLC bought a new stake in PPG Industries during the 4th quarter worth approximately $868,000. Equity Investment Corp grew its position in shares of PPG Industries by 7.0% during the third quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock valued at $86,006,000 after purchasing an additional 42,380 shares in the last quarter. Ritholtz Wealth Management bought a new stake in shares of PPG Industries in the third quarter worth about $604,000. JGP Wealth Management LLC purchased a new stake in shares of PPG Industries in the fourth quarter worth about $4,050,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in PPG Industries by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock valued at $340,654,000 after buying an additional 15,161 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

About PPG Industries

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.