PPG Industries (NYSE:PPG) Given New $145.00 Price Target at Deutsche Bank Aktiengesellschaft

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

Several other analysts have also recently issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 price objective (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Mizuho decreased their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. StockNews.com raised shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. decreased their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Finally, Royal Bank of Canada dropped their price target on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, PPG Industries has an average rating of “Moderate Buy” and an average target price of $149.29.

PPG Industries Price Performance

NYSE:PPG opened at $120.21 on Thursday. The business’s 50-day simple moving average is $124.99 and its two-hundred day simple moving average is $126.21. PPG Industries has a 52 week low of $118.07 and a 52 week high of $150.82. The stock has a market cap of $27.89 billion, a PE ratio of 19.05, a P/E/G ratio of 1.90 and a beta of 1.24. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same period last year, the business earned $2.07 earnings per share. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, analysts forecast 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 was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were given a dividend of $0.68 per share. The ex-dividend date was Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a yield of 2.26%. PPG Industries’s payout ratio is 43.11%.

Insiders Place Their Bets

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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Quotient Wealth Partners LLC raised its stake in PPG Industries by 80.7% in the 2nd quarter. Quotient Wealth Partners LLC now owns 3,392 shares of the specialty chemicals company’s stock worth $427,000 after acquiring an additional 1,515 shares during the last quarter. LRI Investments LLC raised its stake in shares of PPG Industries by 463.8% in the second quarter. LRI Investments LLC now owns 389 shares of the specialty chemicals company’s stock worth $49,000 after purchasing an additional 320 shares during the last quarter. Ceredex Value Advisors LLC lifted its holdings in shares of PPG Industries by 25.3% during the second quarter. Ceredex Value Advisors LLC now owns 275,900 shares of the specialty chemicals company’s stock worth $34,733,000 after purchasing an additional 55,700 shares during the period. Wedgewood Investors Inc. PA purchased a new stake in PPG Industries in the second quarter valued at approximately $566,000. Finally, State of Michigan Retirement System increased its holdings in PPG Industries by 4.3% in the 2nd quarter. State of Michigan Retirement System now owns 67,443 shares of the specialty chemicals company’s stock worth $8,490,000 after buying an additional 2,800 shares during the period. Institutional investors and hedge funds 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.