PPG Industries, Inc. (NYSE:PPG) Receives $158.40 Consensus Target Price from Brokerages

PPG Industries, Inc. (NYSE:PPG) has received an average rating of “Hold” from the fourteen research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $158.00.

Several research firms recently weighed in on PPG. Wells Fargo & Company upgraded shares of PPG Industries from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $150.00 to $163.00 in a research note on Thursday, April 11th. UBS Group cut their price target on shares of PPG Industries from $156.00 to $150.00 and set a “neutral” rating for the company in a research note on Friday. KeyCorp cut their price target on shares of PPG Industries from $167.00 to $164.00 and set an “overweight” rating for the company in a research note on Tuesday, April 9th. Robert W. Baird restated an “outperform” rating and set a $150.00 price target on shares of PPG Industries in a research note on Friday, January 19th. Finally, Barclays lowered shares of PPG Industries from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $163.00 to $149.00 in a report on Tuesday, February 27th.

PPG Industries Trading Down 3.1 %

Shares of NYSE:PPG opened at $130.90 on Monday. The company has a market cap of $30.81 billion, a P/E ratio of 22.11, a P/E/G ratio of 1.56 and a beta of 1.28. The stock’s 50-day moving average is $140.36 and its 200-day moving average is $138.99. PPG Industries has a 52-week low of $120.32 and a 52-week high of $152.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.05 and a current ratio of 1.47.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.86. PPG Industries had a return on equity of 23.13% and a net margin of 7.74%. The company had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same period last year, the business posted $1.82 earnings per share. The firm’s revenue was down 1.6% compared to the same quarter last year. Equities research analysts predict that PPG Industries will post 8.46 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 10th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Thursday, May 9th. PPG Industries’s dividend payout ratio is currently 43.92%.

Insiders Place Their Bets

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction on Friday, March 1st. The shares were sold at an average price of $140.94, for a total transaction of $479,196.00. Following the completion of the sale, the chief financial officer now owns 28,439 shares of the company’s stock, valued at approximately $4,008,192.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On PPG Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in PPG. Vontobel Holding Ltd. boosted its position in shares of PPG Industries by 51.9% during the first quarter. Vontobel Holding Ltd. now owns 5,991 shares of the specialty chemicals company’s stock worth $797,000 after purchasing an additional 2,048 shares in the last quarter. Sei Investments Co. lifted its position in PPG Industries by 14.7% in the 1st quarter. Sei Investments Co. now owns 23,667 shares of the specialty chemicals company’s stock valued at $3,099,000 after acquiring an additional 3,025 shares in the last quarter. Prudential PLC acquired a new position in PPG Industries in the 1st quarter worth $619,000. Vanguard Group Inc. increased its holdings in PPG Industries by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 20,180,199 shares of the specialty chemicals company’s stock worth $2,645,019,000 after purchasing an additional 252,358 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. raised its stake in shares of PPG Industries by 7.1% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 19,480 shares of the specialty chemicals company’s stock valued at $2,553,000 after purchasing an additional 1,283 shares during the period. 81.86% of the stock is owned by 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.