PPG Industries (NYSE:PPG) Cut to Neutral at BNP Paribas

BNP Paribas cut shares of PPG Industries (NYSE:PPGGet Rating) from an outperform rating to a neutral rating in a research note released on Monday morning, MarketBeat reports. BNP Paribas currently has $130.00 price target on the specialty chemicals company’s stock.

A number of other analysts have also issued reports on the company. The Goldman Sachs Group started coverage on PPG Industries in a report on Thursday, October 13th. They issued a buy rating and a $145.00 target price on the stock. Credit Suisse Group raised their target price on PPG Industries from $104.00 to $118.00 and gave the company an underperform rating in a report on Friday. Northcoast Research assumed coverage on PPG Industries in a report on Thursday, October 13th. They set a neutral rating on the stock. KeyCorp lifted their price objective on PPG Industries from $144.00 to $159.00 and gave the stock an overweight rating in a report on Monday. Finally, Morgan Stanley decreased their price objective 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. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have given 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 Stock Down 0.5 %

PPG opened at $130.30 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.52 and a quick ratio of 1.04. The company has a market capitalization of $30.62 billion, a PE ratio of 30.09, a price-to-earnings-growth ratio of 2.69 and a beta of 1.18. The business has a 50-day moving average of $129.58 and a 200-day moving average of $123.94. PPG Industries has a fifty-two week low of $107.06 and a fifty-two week high of $159.16.

PPG Industries (NYSE:PPGGet Rating) last issued its quarterly earnings data on Friday, January 20th. The specialty chemicals company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.08. The business had revenue of $4.19 billion for 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 firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.26 EPS. Equities research analysts forecast that PPG Industries will post 6.8 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 10th. Investors of record on Friday, February 17th will be paid a dividend of $0.62 per share. 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 (DPR) is presently 57.27%.

Institutional Investors Weigh In On PPG Industries

Institutional investors have recently made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of PPG Industries by 12.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,967 shares of the specialty chemicals company’s stock worth $1,989,000 after purchasing an additional 2,015 shares during the period. TownSquare Capital LLC grew its stake in PPG Industries by 14.5% in the second quarter. TownSquare Capital LLC now owns 7,575 shares of the specialty chemicals company’s stock valued at $866,000 after acquiring an additional 961 shares during the period. StoneX Group Inc. acquired a new position in PPG Industries in the second quarter valued at about $376,000. Vanguard Personalized Indexing Management LLC grew its stake in PPG Industries by 102.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,995 shares of the specialty chemicals company’s stock valued at $1,372,000 after acquiring an additional 6,064 shares during the period. Finally, Bank of Montreal Can grew its stake in PPG Industries by 14.3% in the second quarter. Bank of Montreal Can now owns 250,556 shares of the specialty chemicals company’s stock valued at $30,807,000 after acquiring an additional 31,301 shares during the period. 80.04% of the stock is owned by institutional investors and hedge funds.

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.

Recommended Stories

Analyst Recommendations for PPG Industries (NYSE:PPG)

Receive News & Ratings for PPG Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries and related companies with MarketBeat.com's FREE daily email newsletter.