PPG Industries (NYSE:PPG) Price Target Raised to $140.00 at Deutsche Bank Aktiengesellschaft

PPG Industries (NYSE:PPG) had its price objective upped by Deutsche Bank Aktiengesellschaft from $125.00 to $140.00 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the specialty chemicals company’s stock.

Other research analysts have also recently issued research reports about the stock. Citigroup lowered their target price on shares of PPG Industries from $135.00 to $113.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Royal Bank of Canada upped their target price on shares of PPG Industries from $112.00 to $113.00 and gave the company a “sector perform” rating in a report on Friday, May 2nd. Wells Fargo & Company upped their target price on shares of PPG Industries from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Fermium Researc upgraded shares of PPG Industries to a “strong-buy” rating in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. decreased their price target 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. Nine analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $128.42.

PPG Industries Price Performance

PPG Industries stock opened at $111.56 on Monday. The company’s 50 day simple moving average is $106.46 and its 200-day simple moving average is $115.39. The company has a market capitalization of $25.32 billion, a price-to-earnings ratio of 23.59, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. PPG Industries has a 1 year low of $90.24 and a 1 year 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 announced its quarterly earnings data 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 firm 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%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.87 earnings per share. As a group, equities research analysts expect that PPG Industries will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

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 $0.68 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.44%. PPG Industries’s payout ratio is 58.24%.

Insiders Place Their Bets

In other news, CEO Timothy M. Knavish sold 4,800 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. The trade was a 11.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in PPG Industries by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company’s stock valued at $3,508,210,000 after acquiring an additional 756,937 shares during the period. Wellington Management Group LLP grew its position in PPG Industries by 5.6% in the first quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company’s stock valued at $1,220,259,000 after acquiring an additional 592,152 shares during the period. Geode Capital Management LLC grew its position in PPG Industries by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 5,546,472 shares of the specialty chemicals company’s stock valued at $660,752,000 after acquiring an additional 93,455 shares during the period. Price T Rowe Associates Inc. MD grew its position in PPG Industries by 58.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company’s stock valued at $524,627,000 after acquiring an additional 1,766,518 shares during the period. Finally, Invesco Ltd. grew its position in PPG Industries by 6.1% in the fourth quarter. Invesco Ltd. now owns 4,726,630 shares of the specialty chemicals company’s stock valued at $564,596,000 after acquiring an additional 271,699 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

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.