PPG Industries (NYSE:PPG) Price Target Cut to $155.00 by Analysts at Deutsche Bank Aktiengesellschaft

PPG Industries (NYSE:PPG) had its price target decreased by Deutsche Bank Aktiengesellschaft from $160.00 to $155.00 in a research note released on Monday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the specialty chemicals company’s stock.

Other research analysts also recently issued reports about the company. Citigroup decreased their price objective on PPG Industries from $170.00 to $161.00 and set a buy rating for the company in a report on Wednesday, April 10th. Evercore ISI downgraded PPG Industries from an outperform rating to an in-line rating and set a $152.00 price objective for the company. in a report on Monday. Wolfe Research began coverage on PPG Industries in a report on Friday, March 1st. They set a peer perform rating for the company. KeyCorp decreased their price objective on PPG Industries from $164.00 to $162.00 and set an overweight rating for the company in a report on Monday. Finally, Wells Fargo & Company upgraded PPG Industries from an equal weight rating to an overweight rating and increased their price objective for the stock from $150.00 to $163.00 in a report on Thursday, April 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, PPG Industries has an average rating of Hold and an average target price of $155.47.

PPG Industries Trading Up 0.1 %

NYSE PPG opened at $130.52 on Monday. The firm has a market cap of $30.61 billion, a P/E ratio of 22.05, a P/E/G ratio of 1.57 and a beta of 1.28. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.55 and a quick ratio of 1.05. The stock’s 50-day moving average is $139.81 and its 200-day moving average is $138.91. PPG Industries has a one year low of $120.32 and a one year high of $152.89.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 EPS for the quarter, hitting analysts’ consensus estimates of $1.86. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.43 billion. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. PPG Industries’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.82 earnings per share. Sell-side analysts anticipate that PPG Industries will post 8.47 earnings per share for the current fiscal year.

PPG Industries declared that its Board of Directors has approved a stock buyback program on Thursday, April 18th that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the specialty chemicals company to repurchase up to 8.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.65 per share. The ex-dividend date is Thursday, May 9th. This represents a $2.60 annualized dividend and a dividend yield of 1.99%. PPG Industries’s dividend payout ratio is currently 43.92%.

Insider Transactions at PPG Industries

In other news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the completion of the transaction, the chief financial officer now directly owns 28,439 shares in the company, valued at approximately $4,008,192.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.56% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PPG. Valued Wealth Advisors LLC acquired a new stake in PPG Industries during the 4th quarter worth approximately $26,000. Private Wealth Management Group LLC acquired a new stake in PPG Industries during the 4th quarter worth approximately $27,000. SJS Investment Consulting Inc. lifted its holdings in PPG Industries by 588.5% during the 4th quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 153 shares during the last quarter. CVA Family Office LLC acquired a new stake in PPG Industries during the 4th quarter worth approximately $28,000. Finally, Richardson Financial Services Inc. acquired a new stake in PPG Industries during the 4th quarter worth approximately $29,000. 81.86% of the stock is currently owned by institutional investors.

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.