PPG Industries (NYSE:PPG) Downgraded to Hold at Vertical Research

Vertical Research lowered shares of PPG Industries (NYSE:PPGGet Rating) from a buy rating to a hold rating in a research report sent to investors on Monday morning, The Fly reports.

PPG has been the topic of several other research reports. KeyCorp lifted their target price on PPG Industries from $144.00 to $159.00 and gave the company an overweight rating in a research note on Monday. Northcoast Research began coverage on PPG Industries in a research note on Thursday, October 13th. They issued a neutral rating on the stock. The Goldman Sachs Group began coverage on PPG Industries in a research note on Thursday, October 13th. They issued a buy rating and a $145.00 price objective on the stock. Morgan Stanley reduced their price objective on PPG Industries from $150.00 to $120.00 and set an equal weight rating on the stock in a research note on Monday, October 24th. Finally, StockNews.com upgraded PPG Industries from a hold rating to a buy rating in a report on Thursday, October 20th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, PPG Industries has an average rating of Hold and a consensus target price of $135.55.

PPG Industries Trading Down 0.5 %

Shares of NYSE:PPG opened at $130.30 on Monday. The stock has a market capitalization of $30.62 billion, a price-to-earnings ratio of 30.09, a PEG ratio of 2.69 and a beta of 1.18. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.04 and a current ratio of 1.52. The stock’s 50-day simple moving average is $129.58 and its two-hundred day simple moving average is $123.94. PPG Industries has a 52-week low of $107.06 and a 52-week high of $159.16.

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

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 10th. Shareholders 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 annualized dividend and a yield of 1.90%. PPG Industries’s payout ratio is presently 57.27%.

Institutional Trading of PPG Industries

Several large investors have recently added to or reduced their stakes in PPG. JPMorgan Chase & Co. grew its stake in PPG Industries by 12.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 17,310,493 shares of the specialty chemicals company’s stock valued at $1,979,281,000 after purchasing an additional 1,963,056 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of PPG Industries by 280.6% in the first quarter. First Trust Advisors LP now owns 1,734,894 shares of the specialty chemicals company’s stock worth $227,393,000 after buying an additional 1,279,104 shares during the last quarter. Putnam Investments LLC boosted its stake in shares of PPG Industries by 33.8% in the third quarter. Putnam Investments LLC now owns 2,533,859 shares of the specialty chemicals company’s stock worth $280,473,000 after buying an additional 639,404 shares during the last quarter. Boston Partners boosted its stake in shares of PPG Industries by 36.2% in the third quarter. Boston Partners now owns 1,985,929 shares of the specialty chemicals company’s stock worth $219,819,000 after buying an additional 527,327 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of PPG Industries by 235.7% in the second quarter. Millennium Management LLC now owns 617,111 shares of the specialty chemicals company’s stock worth $70,560,000 after buying an additional 433,297 shares during the last quarter. Hedge funds and other institutional investors own 80.04% of the company’s stock.

About PPG Industries

(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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