PPG Industries (NYSE:PPG) Upgraded at Fermium Researc

Fermium Researc upgraded shares of PPG Industries (NYSE:PPG) to a strong-buy rating in a research report sent to investors on Thursday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on PPG. JPMorgan Chase & Co. lowered their target price on PPG Industries from $115.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday. The Goldman Sachs Group dropped their target price on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. Mizuho reduced their price target on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Wells Fargo & Company raised their target price on PPG Industries from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Citigroup dropped their price target on shares of PPG Industries from $135.00 to $113.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Nine equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $128.83.

PPG Industries Stock Up 1.5 %

PPG opened at $110.45 on Thursday. The company has a market capitalization of $25.07 billion, a P/E ratio of 23.35, a P/E/G ratio of 2.19 and a beta of 1.16. PPG Industries has a fifty-two week low of $90.24 and a fifty-two week high of $137.24. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The stock has a fifty day moving average of $106.97 and a 200-day moving average of $116.29.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.10. PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same period in the prior year, the company earned $1.87 EPS. PPG Industries’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, equities analysts expect that PPG Industries will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Monday, May 12th. PPG Industries’s payout ratio is 57.51%.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the sale, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This represents a 11.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.33% of the company’s stock.

Hedge Funds Weigh In On PPG Industries

Institutional investors and hedge funds have recently modified their holdings of the business. Park Square Financial Group LLC purchased a new position in shares of PPG Industries in the fourth quarter worth about $26,000. Legend Financial Advisors Inc. acquired a new stake in shares of PPG Industries in the fourth quarter valued at $27,000. CVA Family Office LLC increased its stake in PPG Industries by 70.6% during the first quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company’s stock worth $30,000 after purchasing an additional 113 shares during the period. Prudent Man Investment Management Inc. acquired a new stake in PPG Industries during the 4th quarter worth approximately $36,000. Finally, Albion Financial Group UT purchased a new position in PPG Industries in the fourth quarter valued at $38,000. Hedge funds and other institutional investors 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.