Analysts Set PPG Industries, Inc. (NYSE:PPG) Target Price at $130.67

PPG Industries, Inc. (NYSE:PPG) has received an average rating of “Hold” from the fourteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $130.67.

PPG has been the topic of several analyst reports. Royal Bank of Canada cut their target price on PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 4th. Citigroup decreased 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. Barclays restated an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. Mizuho decreased their price target on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. lowered PPG Industries from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $145.00 to $115.00 in a report on Wednesday, February 12th.

PPG Industries Stock Performance

PPG opened at $103.69 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The business has a fifty day simple moving average of $107.26 and a 200 day simple moving average of $116.71. PPG Industries has a 1 year low of $90.24 and a 1 year high of $137.24. The company has a market capitalization of $23.54 billion, a PE ratio of 21.92, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16.

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

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be paid a $0.68 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.62%. PPG Industries’s payout ratio is currently 57.51%.

Insider Buying and Selling

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

Institutional Investors Weigh In On PPG Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in PPG Industries during the 4th quarter valued at about $470,535,000. Kovitz Investment Group Partners LLC raised its stake in PPG Industries by 482.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company’s stock worth $518,132,000 after buying an additional 3,592,655 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in PPG Industries by 815.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,031,164 shares of the specialty chemicals company’s stock worth $362,074,000 after buying an additional 2,700,018 shares during the period. First Eagle Investment Management LLC boosted its position in PPG Industries by 138.9% during the 4th quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company’s stock valued at $381,876,000 after acquiring an additional 1,858,895 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of PPG Industries by 17.7% in the 4th quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company’s stock valued at $1,262,234,000 after acquiring an additional 1,590,041 shares during the period. 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.