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

PPG Industries, Inc. (NYSE:PPGGet Rating) has earned a consensus rating of “Hold” from the twenty-three research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $163.17.

Several brokerages have weighed in on PPG. Barclays decreased their price objective on shares of PPG Industries from $175.00 to $150.00 in a research note on Monday, May 2nd. StockNews.com initiated coverage on shares of PPG Industries in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research cut shares of PPG Industries from a “hold” rating to a “sell” rating and set a $138.00 price target on the stock. in a research note on Friday, April 1st. Robert W. Baird decreased their price target on shares of PPG Industries from $200.00 to $180.00 in a research note on Monday, April 25th. Finally, TheStreet cut shares of PPG Industries from a “b-” rating to a “c” rating in a research note on Monday, May 23rd.

In other PPG Industries news, EVP Rebecca B. Liebert sold 30,086 shares of the stock in a transaction on Wednesday, April 27th. The shares were sold at an average price of $129.90, for a total value of $3,908,171.40. Following the sale, the executive vice president now directly owns 24,693 shares in the company, valued at $3,207,620.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.50% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC increased its position in shares of PPG Industries by 27.8% during the first quarter. FMR LLC now owns 169,739 shares of the specialty chemicals company’s stock worth $19,158,000 after acquiring an additional 36,888 shares in the last quarter. Parnassus Investments LLC increased its position in shares of PPG Industries by 6.6% during the third quarter. Parnassus Investments LLC now owns 1,293,891 shares of the specialty chemicals company’s stock worth $185,039,000 after acquiring an additional 80,251 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of PPG Industries during the third quarter worth $4,991,000. Franklin Resources Inc. increased its position in shares of PPG Industries by 4.9% during the third quarter. Franklin Resources Inc. now owns 113,335 shares of the specialty chemicals company’s stock worth $16,209,000 after acquiring an additional 5,278 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its position in shares of PPG Industries by 4.2% during the third quarter. Neuberger Berman Group LLC now owns 352,211 shares of the specialty chemicals company’s stock worth $48,949,000 after acquiring an additional 14,169 shares in the last quarter. Institutional investors own 79.12% of the company’s stock.

NYSE PPG opened at $123.99 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.47 and a debt-to-equity ratio of 1.08. The stock has a market cap of $29.29 billion, a P/E ratio of 27.49, a PEG ratio of 1.50 and a beta of 1.15. PPG Industries has a twelve month low of $111.32 and a twelve month high of $178.92. The company’s 50-day simple moving average is $128.07 and its 200 day simple moving average is $143.11.

PPG Industries (NYSE:PPGGet Rating) last issued its quarterly earnings data on Thursday, April 21st. The specialty chemicals company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.25. The firm had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.24 billion. PPG Industries had a net margin of 6.26% and a return on equity of 23.41%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.88 earnings per share. Research analysts anticipate that PPG Industries will post 7.15 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 10th. Shareholders of record on Tuesday, May 10th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Monday, May 9th. This represents a $2.36 annualized dividend and a yield of 1.90%. PPG Industries’s dividend payout ratio (DPR) is presently 52.33%.

PPG Industries Company Profile (Get Rating)

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

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