PPG Industries, Inc. (NYSE:PPG) Receives Average Recommendation of “Hold” from Brokerages

PPG Industries, Inc. (NYSE:PPG) has earned a consensus recommendation of “Hold” from the fourteen analysts that are currently covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $130.67.

PPG has been the topic of a number of research reports. Barclays reiterated an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. Citigroup reduced their price objective on PPG Industries from $135.00 to $113.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. UBS Group lowered their target price on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. The Goldman Sachs Group reduced their price target on PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. Finally, Bank of America restated a “neutral” rating and issued a $126.00 price objective (down previously from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th.

Insider Buying and Selling at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction 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 sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PPG Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Park Square Financial Group LLC acquired a new stake in shares of PPG Industries in the fourth quarter worth approximately $26,000. Legend Financial Advisors Inc. acquired a new position in shares of PPG Industries in the 4th quarter valued at $27,000. CVA Family Office LLC grew its stake in shares of PPG Industries by 70.6% during the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company’s stock valued at $30,000 after buying an additional 113 shares during the period. Prudent Man Investment Management Inc. acquired a new stake in shares of PPG Industries during the 4th quarter worth $36,000. Finally, Albion Financial Group UT purchased a new position in shares of PPG Industries in the 4th quarter worth $38,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Performance

Shares of PPG opened at $103.69 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The firm has a market cap of $23.54 billion, a PE ratio of 21.92, a P/E/G ratio of 2.19 and a beta of 1.16. PPG Industries has a 12 month low of $90.24 and a 12 month high of $137.24. The stock has a fifty day moving average price of $107.26 and a 200-day moving average price of $116.71.

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

PPG Industries Dividend Announcement

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

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.