JPMorgan Chase & Co. Raises PPG Industries (NYSE:PPG) Price Target to $130.00

PPG Industries (NYSE:PPGGet Rating) had its target price increased by JPMorgan Chase & Co. from $116.00 to $130.00 in a research note released on Monday morning, Benzinga reports. They currently have a neutral rating on the specialty chemicals company’s stock.

Several other research analysts also recently commented on PPG. BNP Paribas downgraded PPG Industries from an outperform rating to a neutral rating and set a $130.00 price objective on the stock. in a report on Monday. Citigroup decreased their price objective on PPG Industries from $139.00 to $138.00 in a report on Sunday. Morgan Stanley reduced their price target on PPG Industries from $150.00 to $120.00 and set an equal weight rating on the stock in a report on Monday, October 24th. Deutsche Bank Aktiengesellschaft boosted their price target on PPG Industries from $128.00 to $145.00 in a report on Monday. Finally, KeyCorp boosted their price target on PPG Industries from $144.00 to $159.00 and gave the company an overweight rating in a report on Monday. One analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $135.55.

PPG Industries Trading Down 0.5 %

Shares of PPG stock opened at $130.30 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.52 and a debt-to-equity ratio of 1.05. The business has a 50-day moving average price of $129.58 and a two-hundred day moving average price of $123.94. PPG Industries has a 12-month low of $107.06 and a 12-month high of $159.16. The firm has a market cap of $30.62 billion, a P/E ratio of 30.09, a price-to-earnings-growth ratio of 2.69 and a beta of 1.18.

PPG Industries (NYSE:PPGGet Rating) last issued its quarterly earnings results on Friday, January 20th. The specialty chemicals company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.08. The firm had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.12 billion. PPG Industries had a return on equity of 22.95% and a net margin of 5.81%. The company’s revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 earnings per share. Equities analysts anticipate that PPG Industries will post 6.8 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Friday, February 17th will be given a $0.62 dividend. The ex-dividend date is Thursday, February 16th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.90%. PPG Industries’s dividend payout ratio is currently 57.27%.

Institutional Trading of PPG Industries

A number of hedge funds have recently made changes to their positions in PPG. Vontobel Holding Ltd. boosted its position in shares of PPG Industries by 51.9% in the 1st quarter. Vontobel Holding Ltd. now owns 5,991 shares of the specialty chemicals company’s stock worth $797,000 after purchasing an additional 2,048 shares in the last quarter. Sei Investments Co. lifted its position in PPG Industries by 14.7% in the 1st quarter. Sei Investments Co. now owns 23,667 shares of the specialty chemicals company’s stock valued at $3,099,000 after acquiring an additional 3,025 shares in the last quarter. Prudential PLC bought a new position in PPG Industries in the 1st quarter valued at approximately $619,000. Vanguard Group Inc. lifted its position in PPG Industries by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 20,180,199 shares of the specialty chemicals company’s stock valued at $2,645,019,000 after acquiring an additional 252,358 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its position in PPG Industries by 7.1% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 19,480 shares of the specialty chemicals company’s stock valued at $2,553,000 after acquiring an additional 1,283 shares in the last quarter. 80.04% of the stock is owned by institutional investors.

About PPG Industries

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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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Analyst Recommendations for PPG Industries (NYSE:PPG)

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