PPG Industries, Inc. (NYSE:PPG) Given Consensus Rating of “Moderate Buy” by Analysts

PPG Industries, Inc. (NYSE:PPG) has been assigned an average rating of “Moderate Buy” from the sixteen ratings firms that are covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $149.29.

Several equities research analysts have weighed in on PPG shares. 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 research note on Monday, October 21st. Deutsche Bank Aktiengesellschaft lowered their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. KeyCorp lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. JPMorgan Chase & Co. lowered their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Finally, Royal Bank of Canada cut their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd.

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 1,985 shares of the business’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 completion of the sale, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On PPG Industries

Institutional investors have recently added to or reduced their stakes in the stock. Equity Investment Corp lifted its holdings in PPG Industries by 7.0% during the third quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock valued at $86,006,000 after purchasing an additional 42,380 shares in the last quarter. PFW Advisors LLC acquired a new position in shares of PPG Industries during the 4th quarter worth about $868,000. Ritholtz Wealth Management purchased a new position in PPG Industries in the 3rd quarter valued at about $604,000. Charles Schwab Investment Management Inc. boosted its holdings in PPG Industries by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock worth $340,654,000 after buying an additional 15,161 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in PPG Industries by 10.0% during the 3rd quarter. Janus Henderson Group PLC now owns 36,422 shares of the specialty chemicals company’s stock worth $4,824,000 after buying an additional 3,300 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of PPG stock opened at $116.46 on Wednesday. The company has a market cap of $27.02 billion, a P/E ratio of 18.46, a PEG ratio of 1.90 and a beta of 1.24. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The stock’s 50-day moving average is $121.66 and its 200 day moving average is $124.91. PPG Industries has a 1-year low of $113.00 and a 1-year high of $145.86.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The firm had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.07 earnings per share. Research analysts predict that PPG Industries will post 8.18 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were given a dividend of $0.68 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.72 annualized dividend and a yield of 2.34%. PPG Industries’s dividend payout ratio is presently 43.11%.

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.