PPG Industries, Inc. (NYSE:PPG) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of PPG Industries, Inc. (NYSE:PPG) have earned a consensus recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $149.93.

A number of equities research analysts have recently weighed in on PPG shares. Royal Bank of Canada dropped their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. StockNews.com raised PPG Industries from a “buy” rating to a “strong-buy” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. reduced 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. Mizuho dropped their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, 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.

PPG Industries Trading Up 2.6 %

PPG Industries stock opened at $125.81 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The stock has a market cap of $29.19 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 1.88 and a beta of 1.26. The stock has a 50-day moving average of $126.97 and a two-hundred day moving average of $127.34. PPG Industries has a one year low of $118.07 and a one year high of $151.16.

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

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s payout ratio is currently 43.11%.

Insider Activity at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On PPG Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PPG. Insight Folios Inc raised its position in shares of PPG Industries by 3.8% during the 3rd quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock worth $294,000 after purchasing an additional 81 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of PPG Industries by 0.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock valued at $2,549,000 after acquiring an additional 82 shares in the last quarter. Klingman & Associates LLC boosted its stake in shares of PPG Industries by 2.6% in the second quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock worth $419,000 after acquiring an additional 83 shares during the last quarter. Fragasso Financial Advisors Inc increased its position in shares of PPG Industries by 0.6% during the second quarter. Fragasso Financial Advisors Inc now owns 13,958 shares of the specialty chemicals company’s stock worth $1,757,000 after purchasing an additional 84 shares in the last quarter. Finally, SeaCrest Wealth Management LLC raised its stake in PPG Industries by 2.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 3,453 shares of the specialty chemicals company’s stock valued at $435,000 after purchasing an additional 86 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

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.