PPG Industries (NYSE:PPG – Get 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 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
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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