PPG Industries, Inc. (NYSE:PPG) Given Average Recommendation of “Hold” by Analysts

Shares of PPG Industries, Inc. (NYSE:PPGGet Free Report) have earned an average rating of “Hold” from the seventeen research firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $155.47.

Several equities analysts have commented on PPG shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of PPG Industries from $160.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. BMO Capital Markets dropped their price target on shares of PPG Industries from $168.00 to $165.00 and set an “outperform” rating for the company in a research note on Tuesday, April 23rd. KeyCorp dropped their price target on shares of PPG Industries from $164.00 to $162.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. Evercore ISI cut shares of PPG Industries from an “outperform” rating to an “in-line” rating and set a $152.00 price objective for the company. in a research report on Monday, April 22nd. Finally, UBS Group decreased their price objective on shares of PPG Industries from $156.00 to $150.00 and set a “neutral” rating for the company in a research report on Friday, April 19th.

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PPG Industries Stock Up 0.2 %

Shares of NYSE PPG opened at $131.66 on Tuesday. The company has a 50 day simple moving average of $134.82 and a 200-day simple moving average of $139.98. The company has a market capitalization of $30.87 billion, a P/E ratio of 22.24, a P/E/G ratio of 1.63 and a beta of 1.30. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.55 and a quick ratio of 1.08. PPG Industries has a 1 year low of $120.32 and a 1 year high of $152.89.

PPG Industries (NYSE:PPGGet Free Report) last posted its earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, meeting the consensus estimate of $1.86. PPG Industries had a net margin of 7.74% and a return on equity of 22.98%. The firm had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter last year, the firm earned $1.82 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities research analysts predict that PPG Industries will post 8.44 earnings per share for the current year.

PPG Industries declared that its Board of Directors has authorized a stock repurchase program on Thursday, April 18th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to repurchase up to 8.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

PPG Industries Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.97%. PPG Industries’s dividend payout ratio (DPR) is 43.92%.

Insiders Place Their Bets

In related news, CEO Timothy M. Knavish bought 2,061 shares of the stock in a transaction on Wednesday, May 8th. The shares were bought at an average cost of $133.24 per share, for a total transaction of $274,607.64. Following the completion of the transaction, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $4,774,388.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.55% of the stock is currently owned by company insiders.

Institutional Trading of PPG Industries

Several institutional investors and hedge funds have recently modified their holdings of the business. Sigma Planning Corp purchased a new position in shares of PPG Industries during the third quarter valued at approximately $345,000. Amalgamated Bank boosted its holdings in shares of PPG Industries by 2.4% in the 3rd quarter. Amalgamated Bank now owns 62,664 shares of the specialty chemicals company’s stock valued at $8,134,000 after purchasing an additional 1,483 shares during the last quarter. First Command Advisory Services Inc. acquired a new position in shares of PPG Industries in the 3rd quarter valued at $110,000. Banque Cantonale Vaudoise boosted its holdings in shares of PPG Industries by 21.6% in the 3rd quarter. Banque Cantonale Vaudoise now owns 10,594 shares of the specialty chemicals company’s stock valued at $1,375,000 after purchasing an additional 1,884 shares during the last quarter. Finally, Spire Wealth Management boosted its holdings in shares of PPG Industries by 4.9% in the 3rd quarter. Spire Wealth Management now owns 3,797 shares of the specialty chemicals company’s stock valued at $493,000 after purchasing an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

About PPG Industries

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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.

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Analyst Recommendations for PPG Industries (NYSE:PPG)

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