Analysts Set PPG Industries, Inc. (NYSE:PPG) PT at $149.29

PPG Industries, Inc. (NYSE:PPG) has earned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are presently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $149.29.

A number of research firms have weighed in on PPG. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Citigroup reduced their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. JPMorgan Chase & Co. dropped their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. Finally, Royal Bank of Canada reduced their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd.

Insider Activity at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vest Financial LLC boosted its holdings in shares of PPG Industries by 28.9% in the 2nd quarter. Vest Financial LLC now owns 337,726 shares of the specialty chemicals company’s stock worth $42,516,000 after purchasing an additional 75,620 shares during the period. Equity Investment Corp boosted its stake in PPG Industries by 7.0% during the third quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock worth $86,006,000 after buying an additional 42,380 shares during the period. Ritholtz Wealth Management bought a new position in PPG Industries during the third quarter valued at $604,000. Charles Schwab Investment Management Inc. raised its stake in shares of PPG Industries by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock valued at $340,654,000 after acquiring an additional 15,161 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of PPG Industries by 10.0% in the 3rd quarter. Janus Henderson Group PLC now owns 36,422 shares of the specialty chemicals company’s stock worth $4,824,000 after acquiring an additional 3,300 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Performance

Shares of PPG stock opened at $120.38 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The company has a 50 day moving average price of $124.04 and a 200-day moving average price of $125.91. PPG Industries has a 52 week low of $118.07 and a 52 week high of $150.82. The firm has a market capitalization of $27.93 billion, a PE ratio of 19.08, a P/E/G ratio of 1.90 and a beta of 1.24.

PPG Industries (NYSE:PPG) last posted its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The company had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period last year, the firm posted $2.07 EPS. As a group, equities research analysts expect that PPG Industries will post 8.18 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were given a $0.68 dividend. This represents a $2.72 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Tuesday, November 12th. PPG Industries’s dividend payout ratio is presently 43.11%.

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.