PPG Industries (NYSE:PPG) Upgraded to “B” at TheStreet

TheStreet upgraded shares of PPG Industries (NYSE:PPGGet Rating) from a c+ rating to a b rating in a research report sent to investors on Monday morning, TheStreetRatingsTable reports.

A number of other equities analysts also recently weighed in on the stock. Berenberg Bank downgraded shares of PPG Industries from a buy rating to a hold rating and decreased their target price for the company from $180.00 to $140.00 in a research note on Friday, May 20th. Credit Suisse Group reduced their price target on shares of PPG Industries to $110.00 in a research report on Friday, July 22nd. Vertical Research raised shares of PPG Industries from a hold rating to a buy rating and set a $139.00 price target for the company in a research report on Monday, June 27th. Redburn Partners raised shares of PPG Industries from a neutral rating to a buy rating in a research report on Tuesday, September 6th. Finally, StockNews.com raised shares of PPG Industries from a hold rating to a buy rating in a research report on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $155.18.

PPG Industries Price Performance

Shares of NYSE PPG opened at $120.16 on Monday. PPG Industries has a fifty-two week low of $107.06 and a fifty-two week high of $177.32. The company has a 50 day simple moving average of $126.14 and a two-hundred day simple moving average of $125.56. The company has a market capitalization of $28.24 billion, a price-to-earnings ratio of 26.35, a P/E/G ratio of 2.63 and a beta of 1.16. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.02 and a current ratio of 1.50.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Wednesday, August 10th were issued a $0.62 dividend. This is an increase from PPG Industries’s previous quarterly dividend of $0.59. This represents a $2.48 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend was Tuesday, August 9th. PPG Industries’s payout ratio is currently 54.39%.

Institutional Trading of PPG Industries

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in PPG Industries by 3.4% in the 4th quarter. BlackRock Inc. now owns 21,452,009 shares of the specialty chemicals company’s stock valued at $3,699,182,000 after acquiring an additional 698,561 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of PPG Industries by 1.3% in 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 buying an additional 252,358 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of PPG Industries by 12.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 17,310,493 shares of the specialty chemicals company’s stock worth $1,979,281,000 after buying an additional 1,963,056 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of PPG Industries by 1.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 15,511,613 shares of the specialty chemicals company’s stock worth $2,033,106,000 after buying an additional 206,569 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of PPG Industries by 61.7% in the 1st quarter. Wellington Management Group LLP now owns 13,393,191 shares of the specialty chemicals company’s stock worth $1,755,445,000 after buying an additional 5,109,132 shares during the last quarter. 80.39% of the stock is currently owned by institutional investors.

About PPG Industries

(Get Rating)

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

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Analyst Recommendations for PPG Industries (NYSE:PPG)

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