PPG Industries, Inc. (NYSE:PPG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

PPG Industries, Inc. (NYSE:PPG) has been assigned an average recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $128.42.

Several research firms recently weighed in on PPG. Wells Fargo & Company raised their target price on shares of PPG Industries from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. dropped their price objective on shares of PPG Industries from $115.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Barclays reissued an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. Royal Bank of Canada lifted their price objective on shares of PPG Industries from $112.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Friday, May 2nd. Finally, Citigroup dropped their price objective on shares of PPG Industries from $135.00 to $113.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th.

PPG Industries Stock Performance

PPG opened at $114.16 on Tuesday. The stock has a market capitalization of $25.91 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 2.19 and a beta of 1.20. The company has a fifty day moving average of $106.50 and a 200 day moving average of $114.99. PPG Industries has a fifty-two week low of $90.24 and a fifty-two week high of $137.24. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last posted its earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.10. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.67 billion. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. PPG Industries’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the company posted $1.87 earnings per share. As a group, sell-side analysts forecast that PPG Industries will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be paid a dividend of $0.68 per share. The ex-dividend date is Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.38%. PPG Industries’s dividend payout ratio is presently 58.24%.

Hedge Funds Weigh In On PPG Industries

A number of large investors have recently made changes to their positions in PPG. Park Square Financial Group LLC purchased a new position in shares of PPG Industries during the 4th quarter worth about $26,000. Cheviot Value Management LLC purchased a new stake in PPG Industries in the 1st quarter valued at about $26,000. CVA Family Office LLC boosted its position in PPG Industries by 70.6% in the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company’s stock valued at $30,000 after buying an additional 113 shares during the period. Headlands Technologies LLC purchased a new stake in PPG Industries in the 1st quarter valued at about $30,000. Finally, Prudent Man Investment Management Inc. purchased a new stake in PPG Industries in the 4th quarter valued at about $36,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

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.