PPG Industries, Inc. (NYSE:PPG) Receives Average Rating of “Hold” from Brokerages

PPG Industries, Inc. (NYSE:PPG) has been assigned a consensus recommendation of “Hold” from the fifteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $138.15.

A number of brokerages have issued reports on PPG. Citigroup lowered their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Wells Fargo & Company lowered their price target on PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. KeyCorp cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Finally, UBS Group cut their price target on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a report on Friday, January 31st.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, the chief executive officer now 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 document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.33% of the company’s stock.

Institutional Trading of PPG Industries

Several large investors have recently added to or reduced their stakes in the business. PUREfi Wealth LLC purchased a new position in shares of PPG Industries during the 4th quarter worth $279,000. PFW Advisors LLC bought a new position in PPG Industries in the 4th quarter worth $868,000. JGP Wealth Management LLC purchased a new position in PPG Industries during the fourth quarter valued at $4,050,000. Vanguard Group Inc. grew its holdings in PPG Industries by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company’s stock valued at $3,508,210,000 after purchasing an additional 756,937 shares during the period. Finally, Avanza Fonder AB purchased a new stake in PPG Industries in the fourth quarter worth about $2,944,000. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Stock Down 1.0 %

Shares of PPG Industries stock opened at $107.32 on Monday. PPG Industries has a 1 year low of $105.64 and a 1 year high of $145.61. The firm has a market cap of $24.36 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 2.19 and a beta of 1.22. The company has a 50-day moving average of $115.37 and a 200 day moving average of $121.17. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. As a group, sell-side analysts anticipate that PPG Industries will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were paid a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.53%. PPG Industries’s dividend payout ratio is presently 57.51%.

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.