Shares of PPG Industries (NYSE:PPG) have earned a consensus recommendation of “Hold” from the twenty-one analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $124.21.
A number of brokerages have commented on PPG. Jefferies Group cut PPG Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, May 16th. BMO Capital Markets lowered their price target on PPG Industries to $116.00 and set a “market perform” rating for the company in a research report on Thursday, May 17th. Royal Bank of Canada reiterated a “hold” rating on shares of PPG Industries in a research note on Tuesday, April 24th. Seaport Global Securities lowered PPG Industries from a “buy” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research note on Tuesday, April 17th. Finally, ValuEngine lowered PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd.
In related news, VP Jean-Marie Greindl sold 9,500 shares of PPG Industries stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $115.79, for a total value of $1,100,005.00. Following the completion of the transaction, the vice president now owns 27,685 shares in the company, valued at approximately $3,205,646.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.33% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in PPG. McKinley Carter Wealth Services Inc. purchased a new position in shares of PPG Industries in the 1st quarter valued at about $104,000. Archford Capital Strategies LLC purchased a new position in shares of PPG Industries in the 1st quarter valued at about $109,000. G&S Capital LLC purchased a new position in shares of PPG Industries in the 4th quarter valued at about $110,000. Summit Trail Advisors LLC increased its stake in shares of PPG Industries by 11,166.0% in the 1st quarter. Summit Trail Advisors LLC now owns 118,631 shares of the specialty chemicals company’s stock valued at $119,000 after purchasing an additional 117,578 shares in the last quarter. Finally, Cerebellum GP LLC purchased a new position in shares of PPG Industries in the 4th quarter valued at about $128,000. Hedge funds and other institutional investors own 75.86% of the company’s stock.
PPG traded down $0.75 on Friday, reaching $102.09. 23,345 shares of the stock were exchanged, compared to its average volume of 1,977,558. PPG Industries has a fifty-two week low of $100.36 and a fifty-two week high of $122.07. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.22 and a current ratio of 1.66. The stock has a market cap of $26.24 billion, a P/E ratio of 17.44, a P/E/G ratio of 1.84 and a beta of 1.56.
PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Thursday, April 19th. The specialty chemicals company reported $1.39 EPS for the quarter, missing the Zacks’ consensus estimate of $1.49 by ($0.10). PPG Industries had a return on equity of 26.15% and a net margin of 10.94%. The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the firm posted $1.35 EPS. The business’s revenue was up 8.6% compared to the same quarter last year. analysts predict that PPG Industries will post 6.37 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 12th. Investors of record on Thursday, May 10th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, May 9th. This represents a $1.80 annualized dividend and a dividend yield of 1.76%. PPG Industries’s dividend payout ratio is presently 30.66%.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.
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