Brokerages Set PPG Industries, Inc. (NYSE:PPG) PT at $138.15

PPG Industries, Inc. (NYSE:PPG) has earned a consensus rating of “Hold” from the fifteen analysts that are presently covering the firm, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $137.77.

Several research analysts have recently commented on PPG shares. Barclays reissued an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. StockNews.com cut PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, February 3rd. Wells Fargo & Company lowered their target price on PPG Industries from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, KeyCorp lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th.

PPG Industries Stock Down 4.8 %

Shares of NYSE PPG opened at $98.98 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The business’s 50 day moving average is $113.74 and its two-hundred day moving average is $120.44. PPG Industries has a 52-week low of $97.49 and a 52-week high of $142.30. The firm has a market cap of $22.47 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 2.19 and a beta of 1.16.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (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%. Research analysts predict that PPG Industries will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.75%. The ex-dividend date was Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

Insider Buying and Selling

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

Institutional Investors Weigh In On PPG Industries

Several large investors have recently modified their holdings of the company. Norges Bank acquired a new position in PPG Industries in the 4th quarter valued at about $470,535,000. Kovitz Investment Group Partners LLC increased its holdings in shares of PPG Industries by 482.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company’s stock valued at $518,132,000 after purchasing an additional 3,592,655 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of PPG Industries by 815.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,031,164 shares of the specialty chemicals company’s stock worth $362,074,000 after purchasing an additional 2,700,018 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of PPG Industries by 138.9% during the fourth quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company’s stock worth $381,876,000 after purchasing an additional 1,858,895 shares during the period. Finally, Wellington Management Group LLP grew its position in PPG Industries by 17.7% in the 4th quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company’s stock valued at $1,262,234,000 after buying an additional 1,590,041 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

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.