PPG Industries, Inc. (NYSE:PPG) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of PPG Industries, Inc. (NYSE:PPG) have been assigned an average rating of “Moderate Buy” from the seventeen research firms that are presently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $149.93.

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Mizuho decreased their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. StockNews.com cut shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 27th. Royal Bank of Canada reduced their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st.

PPG Industries Stock Up 1.3 %

NYSE PPG opened at $125.96 on Tuesday. The stock’s 50 day simple moving average is $126.65 and its 200 day simple moving average is $127.01. PPG Industries has a one year low of $118.07 and a one year high of $151.16. The firm has a market cap of $29.22 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last announced its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the company posted $2.07 EPS. PPG Industries’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, sell-side analysts forecast that PPG Industries will post 8.18 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.16%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s payout ratio is 43.11%.

Insider Activity at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the transaction, the vice president now owns 13,454 shares of the company’s stock, valued at $1,692,513.20. The trade was a 12.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On PPG Industries

Several large investors have recently modified their holdings of the business. Insight Folios Inc grew its position in shares of PPG Industries by 3.8% in the 3rd quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock valued at $294,000 after purchasing an additional 81 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of PPG Industries by 0.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock worth $2,549,000 after acquiring an additional 82 shares in the last quarter. Klingman & Associates LLC increased its position in shares of PPG Industries by 2.6% during the second quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock worth $419,000 after acquiring an additional 83 shares in the last quarter. Fragasso Financial Advisors Inc raised its holdings in shares of PPG Industries by 0.6% during the second quarter. Fragasso Financial Advisors Inc now owns 13,958 shares of the specialty chemicals company’s stock worth $1,757,000 after acquiring an additional 84 shares during the period. Finally, SeaCrest Wealth Management LLC lifted its position in PPG Industries by 2.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 3,453 shares of the specialty chemicals company’s stock valued at $435,000 after acquiring an additional 86 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

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.