Royal Bank of Canada Lowers PPG Industries (NYSE:PPG) Price Target to $136.00

PPG Industries (NYSE:PPG) had its price target lowered by Royal Bank of Canada from $138.00 to $136.00 in a research report report published on Tuesday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the specialty chemicals company’s stock.

PPG has been the topic of a number of other research reports. Mizuho lowered their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Citigroup reduced their target price on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. JPMorgan Chase & Co. reduced their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. KeyCorp reduced their target price on PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $149.93.

PPG Industries Price Performance

PPG Industries stock opened at $126.45 on Tuesday. The stock’s fifty day moving average price is $127.79 and its two-hundred day moving average price is $128.82. PPG Industries has a one year low of $118.07 and a one year high of $151.16. 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 firm has a market cap of $29.65 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 1.94 and a beta of 1.26.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter last year, the business earned $2.07 EPS. PPG Industries’s revenue was down 1.5% on a year-over-year basis. As a group, research analysts expect that PPG Industries will post 8.19 EPS for the current fiscal year.

PPG Industries Announces Dividend

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 issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is 45.95%.

Institutional Investors Weigh In On PPG Industries

Several hedge funds have recently modified their holdings of PPG. Vanguard Group Inc. lifted its holdings in PPG Industries by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company’s stock worth $4,159,074,000 after buying an additional 4,222,402 shares during the period. Dimensional Fund Advisors LP lifted its holdings in PPG Industries by 20.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock worth $276,576,000 after buying an additional 368,410 shares during the period. Boston Partners lifted its holdings in PPG Industries by 4.9% during the 1st quarter. Boston Partners now owns 1,713,126 shares of the specialty chemicals company’s stock worth $248,172,000 after buying an additional 80,710 shares during the period. ProShare Advisors LLC lifted its holdings in PPG Industries by 12.2% during the 2nd quarter. ProShare Advisors LLC now owns 1,404,015 shares of the specialty chemicals company’s stock worth $176,751,000 after buying an additional 152,719 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its holdings in PPG Industries by 9.6% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,142,195 shares of the specialty chemicals company’s stock worth $162,862,000 after buying an additional 100,391 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

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.