Brokerages Set PPG Industries, Inc. (NYSE:PPG) Price Target at $149.93

PPG Industries, Inc. (NYSE:PPG) has been assigned an average recommendation of “Moderate Buy” from the seventeen analysts that are covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $149.93.

Several equities research analysts recently issued reports on the company. KeyCorp reduced their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Royal Bank of Canada cut their price target on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. Barclays cut their price target on PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Finally, UBS Group raised their price target on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, July 19th.

PPG Industries Stock Down 0.1 %

Shares of PPG Industries stock opened at $124.41 on Friday. The stock has a 50-day moving average price of $127.99 and a 200 day moving average price of $128.23. The company has a market cap of $28.86 billion, a P/E ratio of 19.72, a P/E/G ratio of 1.90 and a beta of 1.26. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries has a 1 year low of $118.07 and a 1 year high of $151.16.

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 the consensus estimate of $2.15 by ($0.02). The business had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.07 earnings per share. As a group, analysts expect that PPG Industries will post 8.19 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is currently 43.11%.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.55% of the company’s stock.

Institutional Trading of PPG Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PPG. Vest Financial LLC grew its holdings in shares of PPG Industries by 28.9% during the 2nd quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock worth $42,516,000 after purchasing an additional 75,620 shares in the last quarter. BDF Gestion acquired a new stake in shares of PPG Industries during the 2nd quarter worth approximately $3,452,000. State Board of Administration of Florida Retirement System grew its holdings in shares of PPG Industries by 8.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 274,143 shares of the specialty chemicals company’s stock worth $36,620,000 after purchasing an additional 22,079 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of PPG Industries by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock worth $4,159,074,000 after purchasing an additional 4,222,402 shares in the last quarter. Finally, Ritholtz Wealth Management acquired a new stake in shares of PPG Industries during the 3rd quarter worth approximately $604,000. 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.