PPG Industries (NYSE:PPG) Cut to “Hold” at StockNews.com

StockNews.com cut shares of PPG Industries (NYSE:PPG) from a buy rating to a hold rating in a report released on Monday morning.

Several other equities research analysts have also recently weighed in on the company. Royal Bank of Canada cut their target price on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. Citigroup reduced their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Wells Fargo & Company lowered their target price on PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday. Mizuho reduced their price target on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, UBS Group lowered their price objective on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, PPG Industries presently has an average rating of “Moderate Buy” and an average price target of $140.92.

PPG Industries Stock Up 1.2 %

Shares of NYSE PPG opened at $112.61 on Monday. The stock has a market capitalization of $26.13 billion, a P/E ratio of 23.81, a PEG ratio of 1.99 and a beta of 1.23. The stock’s fifty day moving average is $120.59 and its 200 day moving average is $124.07. PPG Industries has a 52 week low of $110.20 and a 52 week high of $145.60. 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 released its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. Sell-side analysts forecast that PPG Industries will post 7.9 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be issued a dividend of $0.68 per share. The ex-dividend date is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.42%. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

Institutional Investors Weigh In On PPG Industries

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Legend Financial Advisors Inc. bought a new position in PPG Industries during the fourth quarter worth $27,000. Pin Oak Investment Advisors Inc. grew its holdings in PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 200 shares during the period. Capital Performance Advisors LLP bought a new position in shares of PPG Industries in the 3rd quarter worth about $34,000. Hara Capital LLC acquired a new position in shares of PPG Industries in the 3rd quarter valued at about $40,000. Finally, Albion Financial Group UT bought a new stake in shares of PPG Industries during the 4th quarter valued at about $38,000. Institutional investors and hedge funds 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.