Brokerages Set PPG Industries, Inc. (NYSE:PPG) Target Price at $149.93

Shares of PPG Industries, Inc. (NYSE:PPG) have earned an average recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $149.93.

PPG has been the topic of several research analyst reports. Royal Bank of Canada lowered their price target on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 22nd. StockNews.com downgraded shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Mizuho cut 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. JPMorgan Chase & Co. cut their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Finally, BMO Capital Markets restated an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st.

Insider Buying and Selling

In other news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PPG. Franklin Resources Inc. grew its position in shares of PPG Industries by 5.7% in the third quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company’s stock valued at $403,049,000 after purchasing an additional 170,339 shares during the period. Tidal Investments LLC increased its position in shares of PPG Industries by 1.2% during the third quarter. Tidal Investments LLC now owns 13,306 shares of the specialty chemicals company’s stock valued at $1,763,000 after acquiring an additional 162 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its stake in PPG Industries by 69.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 54,004 shares of the specialty chemicals company’s stock worth $7,153,000 after purchasing an additional 22,198 shares in the last quarter. Toronto Dominion Bank lifted its stake in PPG Industries by 5.3% during the 3rd quarter. Toronto Dominion Bank now owns 134,028 shares of the specialty chemicals company’s stock worth $17,753,000 after acquiring an additional 6,756 shares in the last quarter. Finally, Barclays PLC lifted its holdings in PPG Industries by 21.0% during the 3rd quarter. Barclays PLC now owns 1,142,045 shares of the specialty chemicals company’s stock worth $151,276,000 after buying an additional 198,353 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

PPG Industries stock opened at $123.45 on Tuesday. The business’s 50-day simple moving average is $126.69 and its 200 day simple moving average is $127.20. The stock has a market cap of $28.64 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 1.92 and a beta of 1.26. PPG Industries has a 12-month low of $118.07 and a 12-month high of $151.16. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last issued 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). The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.07 earnings per share. As a group, research analysts anticipate that PPG Industries will post 8.18 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries’s payout ratio is 43.11%.

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.