PPG Industries (NYSE:PPG) Price Target Cut to $105.00 by Analysts at JPMorgan Chase & Co.

PPG Industries (NYSE:PPG) had its target price decreased by JPMorgan Chase & Co. from $115.00 to $105.00 in a research report released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the specialty chemicals company’s stock.

A number of other equities analysts have also weighed in on the stock. Argus lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Monday, March 10th. Bank of America reiterated a “neutral” rating and issued a $126.00 price objective (down from $143.00) on shares of PPG Industries in a research note on Tuesday, April 15th. Royal Bank of Canada lowered their target price on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a report on Tuesday, February 4th. Wells Fargo & Company raised their price target on PPG Industries from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, StockNews.com lowered PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.83.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $110.45 on Thursday. The firm has a market capitalization of $25.07 billion, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16. PPG Industries has a 12 month low of $90.24 and a 12 month high of $137.24. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The business’s fifty day simple moving average is $106.97 and its 200 day simple moving average is $116.29.

PPG Industries (NYSE:PPG) last released its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 last year, the business posted $1.87 earnings per share. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, analysts anticipate that PPG Industries will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

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

Insider Activity at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PPG Industries

A number of large investors have recently added to or reduced their stakes in PPG. Barclays PLC increased its position in shares of PPG Industries by 21.0% during the 3rd quarter. Barclays PLC now owns 1,142,045 shares of the specialty chemicals company’s stock valued at $151,276,000 after purchasing an additional 198,353 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in PPG Industries by 69.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 54,004 shares of the specialty chemicals company’s stock valued at $7,153,000 after acquiring an additional 22,198 shares during the last quarter. Tidal Investments LLC raised its stake in shares of PPG Industries by 1.2% during the third quarter. Tidal Investments LLC now owns 13,306 shares of the specialty chemicals company’s stock worth $1,763,000 after acquiring an additional 162 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of PPG Industries by 5.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company’s stock worth $403,049,000 after acquiring an additional 170,339 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of PPG Industries by 8.9% in the 4th quarter. GAMMA Investing LLC now owns 6,121 shares of the specialty chemicals company’s stock valued at $731,000 after purchasing an additional 498 shares in the last quarter. Hedge funds and other institutional investors 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.