PPG Industries, Inc. (NYSE:PPG) Receives $138.15 Consensus PT from Brokerages

Shares of PPG Industries, Inc. (NYSE:PPG) have received a consensus recommendation of “Hold” from the fifteen research firms that are presently covering the company, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $137.77.

Several research analysts have weighed in on PPG shares. Royal Bank of Canada lowered their price objective on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 4th. Barclays reaffirmed an “equal weight” rating on shares of PPG Industries in a research report on Monday, February 3rd. Mizuho decreased their price objective on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Monday, February 3rd. KeyCorp lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Finally, Seaport Res Ptn downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th.

Insider Buying and Selling

In other news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the transaction, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PPG Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. PUREfi Wealth LLC bought a new stake in shares of PPG Industries during the 4th quarter valued at $279,000. PFW Advisors LLC bought a new stake in shares of PPG Industries during the fourth quarter valued at about $868,000. JGP Wealth Management LLC purchased a new stake in shares of PPG Industries in the fourth quarter worth about $4,050,000. Vanguard Group Inc. boosted its position in shares of PPG Industries by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company’s stock valued at $3,508,210,000 after acquiring an additional 756,937 shares during the period. Finally, Avanza Fonder AB bought a new stake in PPG Industries during the 4th quarter worth approximately $2,944,000. Institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of NYSE PPG opened at $98.98 on Monday. 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 $113.74 and its 200-day moving average price is $120.54. The firm has a market capitalization of $22.47 billion, a P/E ratio of 20.93, a P/E/G ratio of 2.19 and a beta of 1.16. PPG Industries has a 1-year low of $97.49 and a 1-year high of $142.30.

PPG Industries (NYSE:PPG) last announced its quarterly 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 return on equity of 23.78% and a net margin of 6.41%. Equities research analysts anticipate that PPG Industries will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date was Friday, February 21st. PPG Industries’s dividend payout ratio is currently 57.51%.

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.