PPG Industries (NYSE:PPG) Research Coverage Started at Societe Generale

Societe Generale started coverage on shares of PPG Industries (NYSE:PPG) in a research report report published on Tuesday, Briefing.com Automated Import reports. The firm issued a buy rating and a $138.00 price objective on the specialty chemicals company’s stock.

Other equities research analysts have also recently issued research reports about the stock. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. BMO Capital Markets reiterated a hold rating and set a $45.00 target price on shares of SAP in a research report on Wednesday, May 1st. Barclays set a $46.00 target price on shares of D. R. Horton and gave the stock a buy rating in a research report on Friday, April 26th. Buckingham Research dropped their target price on shares of Spotify from $174.00 to $165.00 and set a buy rating for the company in a research report on Monday, April 22nd. Finally, KeyCorp set a $37.00 target price on shares of SeaWorld Entertainment and gave the stock a buy rating in a research report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. PPG Industries has a consensus rating of Buy and a consensus target price of $119.23.

Shares of PPG Industries stock opened at $116.00 on Tuesday. The firm has a market cap of $27.25 billion, a PE ratio of 19.59, a P/E/G ratio of 2.04 and a beta of 1.23. The company has a quick ratio of 0.97, a current ratio of 1.40 and a debt-to-equity ratio of 0.92. The stock’s 50-day moving average price is $113.67. PPG Industries has a 12-month low of $94.37 and a 12-month high of $121.29.

PPG Industries (NYSE:PPG) last announced its earnings results on Thursday, April 18th. The specialty chemicals company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.17. The business had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.69 billion. PPG Industries had a net margin of 8.67% and a return on equity of 28.72%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the company posted $1.39 EPS. On average, equities analysts predict that PPG Industries will post 6.29 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.66%. The ex-dividend date was Thursday, May 9th. PPG Industries’s payout ratio is presently 32.43%.

In other PPG Industries news, VP William E. Schaupp sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $106.88, for a total value of $267,200.00. Following the completion of the sale, the vice president now owns 4,389 shares in the company, valued at approximately $469,096.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Victoria F. Haynes sold 674 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $107.16, for a total transaction of $72,225.84. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.

Large investors have recently modified their holdings of the company. Savant Capital LLC boosted its stake in PPG Industries by 2.0% during the 1st quarter. Savant Capital LLC now owns 4,493 shares of the specialty chemicals company’s stock worth $507,000 after acquiring an additional 90 shares during the last quarter. UNIVEST FINANCIAL Corp boosted its stake in PPG Industries by 2.5% during the 1st quarter. UNIVEST FINANCIAL Corp now owns 3,925 shares of the specialty chemicals company’s stock worth $443,000 after acquiring an additional 97 shares during the last quarter. Ballentine Partners LLC boosted its stake in PPG Industries by 0.8% during the 1st quarter. Ballentine Partners LLC now owns 13,266 shares of the specialty chemicals company’s stock worth $1,497,000 after acquiring an additional 106 shares during the last quarter. Berman Capital Advisors LLC boosted its stake in PPG Industries by 49.5% during the 1st quarter. Berman Capital Advisors LLC now owns 323 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 107 shares during the last quarter. Finally, BerganKDV Wealth Management LLC boosted its stake in PPG Industries by 1.2% during the 1st quarter. BerganKDV Wealth Management LLC now owns 9,219 shares of the specialty chemicals company’s stock worth $1,041,000 after acquiring an additional 107 shares during the last quarter. Institutional investors own 78.45% of the company’s stock.

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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Analyst Recommendations for PPG Industries (NYSE:PPG)

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