PPG Industries, Inc. (NYSE:PPG) Receives $149.29 Consensus Price Target from Analysts

PPG Industries, Inc. (NYSE:PPG) has earned an average rating of “Moderate Buy” from the sixteen analysts that are covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $149.29.

PPG has been the topic of several research reports. KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Royal Bank of Canada dropped their target price 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 lowered shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 20th. Mizuho lowered their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th.

PPG Industries Trading Up 0.5 %

Shares of PPG opened at $120.14 on Wednesday. PPG Industries has a 1-year low of $113.00 and a 1-year high of $145.86. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The firm’s 50-day moving average price is $121.37 and its 200-day moving average price is $124.83. The firm has a market capitalization of $27.87 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 1.77 and a beta of 1.24.

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 8.15 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, February 21st will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is currently 43.11%.

Insider Transactions at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The stock was 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 in the company, valued at $1,692,513.20. This represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On PPG Industries

Several institutional investors have recently made changes to their positions in the company. Legend Financial Advisors Inc. purchased a new position in PPG Industries in the 4th quarter valued at about $27,000. Pin Oak Investment Advisors Inc. increased its stake 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 worth $32,000 after acquiring an additional 200 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of PPG Industries in the 3rd quarter valued at approximately $34,000. Albion Financial Group UT purchased a new stake in shares of PPG Industries in the 4th quarter valued at $38,000. Finally, Hara Capital LLC acquired a new stake in PPG Industries during the 3rd quarter worth approximately $40,000. 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.