PPG Industries (NYSE:PPG) Price Target Cut to $155.00 by Analysts at Deutsche Bank Aktiengesellschaft

PPG Industries (NYSE:PPG) had its price objective trimmed by Deutsche Bank Aktiengesellschaft from $160.00 to $155.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a buy rating on the specialty chemicals company’s stock.

Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada dropped their price objective on PPG Industries from $158.00 to $156.00 and set a sector perform rating for the company in a report on Monday, January 22nd. Barclays downgraded shares of PPG Industries from an overweight rating to an equal weight rating and cut their price target for the company from $163.00 to $149.00 in a research report on Tuesday, February 27th. Bank of America lowered their target price on shares of PPG Industries from $167.00 to $164.00 and set a buy rating for the company in a research note on Monday. KeyCorp reduced their price target on shares of PPG Industries from $164.00 to $162.00 and set an overweight rating on the stock in a research report on Monday. Finally, Redburn Atlantic cut shares of PPG Industries from a buy rating to a neutral rating and set a $160.00 price objective for the company. in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $155.50.

PPG Industries Stock Performance

Shares of NYSE:PPG opened at $131.13 on Monday. The company has a current ratio of 1.47, a quick ratio of 1.05 and a debt-to-equity ratio of 0.72. PPG Industries has a 1-year low of $120.32 and a 1-year high of $152.89. The stock has a market capitalization of $30.86 billion, a P/E ratio of 22.15, a P/E/G ratio of 1.56 and a beta of 1.28. The business has a 50-day moving average price of $140.16 and a two-hundred day moving average price of $138.99.

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

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.60 annualized dividend and a dividend yield of 1.98%. PPG Industries’s dividend payout ratio is currently 43.92%.

PPG Industries declared that its board has authorized a stock buyback plan on Thursday, April 18th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the specialty chemicals company to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other PPG Industries news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the transaction, the chief financial officer now owns 28,439 shares in the company, valued at approximately $4,008,192.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PPG Industries

A number of large investors have recently bought and sold shares of the company. Valued Wealth Advisors LLC acquired a new position in PPG Industries during the fourth quarter valued at approximately $26,000. Private Wealth Management Group LLC acquired a new position in shares of PPG Industries during the 4th quarter worth $27,000. SJS Investment Consulting Inc. lifted its position in shares of PPG Industries by 588.5% during the 4th quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock worth $27,000 after buying an additional 153 shares during the last quarter. CVA Family Office LLC bought a new position in PPG Industries in the fourth quarter valued at about $28,000. Finally, Richardson Financial Services Inc. acquired a new position in PPG Industries during the fourth quarter worth about $29,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Company Profile

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.