PPG Industries, Inc. (NYSE:PPG) Given Consensus Rating of “Hold” by Brokerages

PPG Industries, Inc. (NYSE:PPG) has received a consensus rating of “Hold” from the fifteen analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $158.40.

A number of equities analysts recently weighed in on PPG shares. Royal Bank of Canada lowered their price target on shares of PPG Industries from $158.00 to $156.00 and set a “sector perform” rating on the stock in a research report on Monday, January 22nd. Barclays lowered shares of PPG Industries from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $163.00 to $149.00 in a research report on Tuesday, February 27th. UBS Group restated a “neutral” rating and set a $156.00 price target (down from $173.00) on shares of PPG Industries in a research report on Thursday, March 7th. Wolfe Research assumed coverage on shares of PPG Industries in a research note on Friday, March 1st. They set a “peer perform” rating on the stock. Finally, Wells Fargo & Company raised shares of PPG Industries from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $150.00 to $163.00 in a research note on Thursday.

Insider Activity

In other news, CFO Vincent J. Morales sold 3,400 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $140.94, for a total value of $479,196.00. Following the sale, the chief financial officer now directly owns 28,439 shares of the company’s stock, valued at approximately $4,008,192.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On PPG Industries

Several large investors have recently added to or reduced their stakes in the business. Valued Wealth Advisors LLC acquired a new position in PPG Industries during the 4th quarter worth approximately $26,000. Private Wealth Management Group LLC acquired a new position in PPG Industries during the 4th quarter worth approximately $27,000. SJS Investment Consulting Inc. grew its holdings in 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 acquiring an additional 153 shares in the last quarter. CVA Family Office LLC acquired a new position in PPG Industries during the 4th quarter worth approximately $28,000. Finally, Richardson Financial Services Inc. acquired a new position in PPG Industries during the 4th quarter worth approximately $29,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Down 2.3 %

Shares of NYSE PPG opened at $134.43 on Monday. The company’s 50-day simple moving average is $140.87 and its 200-day simple moving average is $138.87. PPG Industries has a 52-week low of $120.32 and a 52-week high of $152.89. The firm has a market cap of $31.64 billion, a price-to-earnings ratio of 25.17, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28. The company has a quick ratio of 1.05, a current ratio of 1.47 and a debt-to-equity ratio of 0.72.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Friday, January 19th. The specialty chemicals company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.04. The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.27 billion. PPG Industries had a net margin of 6.96% and a return on equity of 23.51%. PPG Industries’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.22 earnings per share. Equities analysts predict that PPG Industries will post 8.46 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Thursday, February 15th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Thursday, February 15th. PPG Industries’s dividend payout ratio (DPR) is 48.69%.

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.