PPG Industries (NYSE:PPG) Price Target Lowered to $150.00 at UBS Group

PPG Industries (NYSE:PPG) had its price objective reduced by UBS Group from $156.00 to $150.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a neutral rating on the specialty chemicals company’s stock.

PPG has been the subject of a number of other reports. Wells Fargo & Company upgraded PPG Industries from an equal weight rating to an overweight rating and lifted their price target for the stock from $150.00 to $163.00 in a research note on Thursday, April 11th. Wolfe Research initiated coverage on PPG Industries in a research note on Friday, March 1st. They issued a peer perform rating for the company. KeyCorp lowered their target price on PPG Industries from $167.00 to $164.00 and set an overweight rating for the company in a report on Tuesday, April 9th. Barclays lowered PPG Industries from an overweight rating to an equal weight rating and lowered their target price for the company from $163.00 to $149.00 in a report on Tuesday, February 27th. Finally, Citigroup lowered their target price on PPG Industries from $170.00 to $161.00 and set a buy rating for the company in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, PPG Industries has a consensus rating of Hold and an average target price of $158.00.

PPG Industries Stock Down 3.1 %

Shares of NYSE PPG opened at $130.92 on Friday. PPG Industries has a 1 year low of $120.32 and a 1 year high of $152.89. The firm has a market cap of $30.81 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 1.61 and a beta of 1.28. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.05 and a current ratio of 1.47. The stock’s 50-day simple moving average is $140.36 and its 200-day simple moving average is $138.88.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, April 18th. The specialty chemicals company reported $1.86 EPS for the quarter, hitting analysts’ consensus estimates of $1.86. The business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.43 billion. PPG Industries had a return on equity of 23.13% and a net margin of 7.74%. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm earned $1.82 earnings per share. As a group, equities analysts anticipate that PPG Industries will post 8.46 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th will be given a $0.65 dividend. The ex-dividend date is Thursday, May 9th. This represents a $2.60 dividend on an annualized basis and a yield of 1.99%. PPG Industries’s dividend payout ratio (DPR) is 43.92%.

Insiders Place Their Bets

In other 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 completion of the sale, the chief financial officer now owns 28,439 shares in the company, valued at approximately $4,008,192.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PPG Industries

A number of institutional investors and hedge funds have recently modified their holdings of PPG. OFI Invest Asset Management acquired a new position in shares of PPG Industries in the third quarter worth $25,000. Valued Wealth Advisors LLC acquired a new position in shares of PPG Industries in the fourth quarter worth $26,000. SJS Investment Consulting Inc. increased its stake in shares of PPG Industries by 588.5% in the fourth 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 during the last quarter. Private Wealth Management Group LLC acquired a new position in shares of PPG Industries in the fourth quarter worth $27,000. Finally, CVA Family Office LLC acquired a new position in shares of PPG Industries in the fourth quarter worth $28,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

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.