PPG Industries, Inc. (NYSE:PPG) Receives $149.93 Consensus Target Price from Brokerages

Shares of PPG Industries, Inc. (NYSE:PPG) have been assigned a consensus rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the firm, MarketBeat reports. Six investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $149.93.

PPG has been the topic of several research reports. Royal Bank of Canada lowered their target price on 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 downgraded shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Mizuho dropped their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. BMO Capital Markets restated an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th.

PPG Industries Stock Up 0.1 %

Shares of NYSE:PPG opened at $123.45 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The firm’s 50-day simple moving average is $126.69 and its 200-day simple moving average is $127.20. PPG Industries has a fifty-two week low of $118.07 and a fifty-two week high of $151.16. The company has a market cap of $28.64 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 1.92 and a beta of 1.26.

PPG Industries (NYSE:PPG) last issued its earnings results 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). The company had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the business posted $2.07 earnings per share. As a group, equities research analysts predict that PPG Industries will post 8.18 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $2.72 annualized dividend and a yield of 2.20%. PPG Industries’s payout ratio is 43.11%.

Insider Buying and Selling at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the transaction, the vice president now owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.55% of the stock is currently owned by corporate insiders.

Institutional Trading of PPG Industries

Several large investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its stake in shares of PPG Industries by 5.7% during the third quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company’s stock worth $403,049,000 after purchasing an additional 170,339 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of PPG Industries by 1.2% during the 3rd quarter. Tidal Investments LLC now owns 13,306 shares of the specialty chemicals company’s stock valued at $1,763,000 after buying an additional 162 shares during the period. Wilmington Savings Fund Society FSB lifted its position in PPG Industries by 69.8% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 54,004 shares of the specialty chemicals company’s stock worth $7,153,000 after acquiring an additional 22,198 shares in the last quarter. Toronto Dominion Bank boosted its holdings in PPG Industries by 5.3% in the 3rd quarter. Toronto Dominion Bank now owns 134,028 shares of the specialty chemicals company’s stock worth $17,753,000 after acquiring an additional 6,756 shares during the period. Finally, Barclays PLC grew its position in PPG Industries by 21.0% in the third quarter. Barclays PLC now owns 1,142,045 shares of the specialty chemicals company’s stock valued at $151,276,000 after acquiring an additional 198,353 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

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.