PPG Industries Inc. (PPG) PT Set at $110.00 by JPMorgan Chase & Co.
PPG Industries Inc. (NYSE:PPG) has been assigned a $110.00 price target by stock analysts at JPMorgan Chase & Co. in a note issued to investors on Monday. The brokerage presently has a a “buy” rating on the stock. JPMorgan Chase & Co.’s price objective suggests a potential upside of 19.18% from the stock’s previous close.
A number of other brokerages have also recently weighed in on PPG. Morgan Stanley reiterated a “hold” rating on shares of PPG Industries in a research report on Thursday, June 16th. Longbow Research upgraded PPG Industries from a “neutral” rating to a “buy” rating and set a $130.00 price target on the stock in a research report on Thursday, June 23rd. Jefferies Group reiterated a “buy” rating and set a $129.00 price target (up from $127.00) on shares of PPG Industries in a research report on Monday, July 25th. Credit Suisse Group AG reiterated a “buy” rating on shares of PPG Industries in a research report on Wednesday, June 15th. Finally, Zacks Investment Research cut PPG Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $116.42.
PPG Industries (NYSE:PPG) opened at 92.30 on Monday. The company’s 50-day moving average price is $102.85 and its 200-day moving average price is $106.74. The stock has a market capitalization of $24.58 billion, a PE ratio of 17.05 and a beta of 1.47. PPG Industries has a one year low of $88.37 and a one year high of $117.00.
PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, July 21st. The company reported $1.85 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.85. The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.17 billion. PPG Industries had a return on equity of 30.94% and a net margin of 9.57%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.67 EPS. Equities research analysts predict that PPG Industries will post $6.17 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Wednesday, August 10th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Monday, August 8th. PPG Industries’s dividend payout ratio (DPR) is presently 29.57%.
In other news, VP Timothy M. Knavish sold 9,300 shares of the firm’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $104.08, for a total transaction of $967,944.00. Following the completion of the sale, the vice president now directly owns 11,806 shares of the company’s stock, valued at approximately $1,228,768.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Viktoras R. Sekmakas sold 40,950 shares of the firm’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $106.64, for a total value of $4,366,908.00. Following the sale, the insider now directly owns 69,044 shares of the company’s stock, valued at $7,362,852.16. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Dynamic Advisors Solutions LLC bought a new stake in PPG Industries during the third quarter valued at $517,000. Fisher Asset Management LLC raised its stake in PPG Industries by 7.9% in the third quarter. Fisher Asset Management LLC now owns 2,135 shares of the company’s stock valued at $221,000 after buying an additional 156 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in PPG Industries by 1.3% in the third quarter. Oregon Public Employees Retirement Fund now owns 59,527 shares of the company’s stock valued at $6,153,000 after buying an additional 778 shares in the last quarter. Central Bank & Trust Co. raised its stake in PPG Industries by 0.5% in the third quarter. Central Bank & Trust Co. now owns 40,006 shares of the company’s stock valued at $4,135,000 after buying an additional 195 shares in the last quarter. Finally, Independence Advisors LLC raised its stake in PPG Industries by 2.5% in the third quarter. Independence Advisors LLC now owns 30,250 shares of the company’s stock valued at $3,127,000 after buying an additional 751 shares in the last quarter. 73.04% of the stock is owned by institutional investors and hedge funds.
PPG Industries Company Profile
PPG Industries, Inc (PPG) manufactures and distributes a range of coatings, specialty materials and glass products. PPG operates through three business segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, architectural-Americas and Asia Pacific, and architectural-EMEA coatings businesses.
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