PPG Industries (NYSE:PPG) PT Raised to $149.00 at Argus

PPG Industries (NYSE:PPGGet Rating) had its price objective boosted by Argus from $144.00 to $149.00 in a report issued on Monday morning, The Fly reports.

PPG has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft lowered their target price on PPG Industries from $130.00 to $128.00 and set a buy rating on the stock in a research note on Friday, October 21st. Mizuho reduced their target price on PPG Industries from $146.00 to $142.00 and set a buy rating for the company in a report on Thursday, January 12th. StockNews.com upgraded PPG Industries from a hold rating to a buy rating in a report on Thursday, October 20th. BNP Paribas cut PPG Industries from an outperform rating to a neutral rating and set a $130.00 price objective on the stock. in a research report on Monday. Finally, Credit Suisse Group boosted their price objective on PPG Industries from $104.00 to $118.00 and gave the company an underperform rating in a research report on Friday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $135.55.

PPG Industries Stock Performance

PPG Industries stock 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 cap of $30.62 billion, a PE ratio of 30.09, a P/E/G ratio of 2.69 and a beta of 1.18. PPG Industries has a 12 month low of $107.06 and a 12 month high of $159.16. The company has a fifty day moving average price of $129.58 and a two-hundred day moving average price of $123.94.

PPG Industries (NYSE:PPGGet Rating) last issued its quarterly earnings data on Friday, January 20th. The specialty chemicals company reported $1.22 earnings per share 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 analysts’ expectations of $4.12 billion. PPG Industries had a net margin of 5.81% and a return on equity of 22.95%. The company’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the business earned $1.26 earnings per share. Research analysts expect that PPG Industries will post 6.8 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently disclosed 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 of this dividend is Thursday, February 16th. This represents a $2.48 dividend on an annualized basis and a yield of 1.90%. PPG Industries’s dividend payout ratio (DPR) is presently 57.27%.

Hedge Funds Weigh In On PPG Industries

Hedge funds have recently added to or reduced their stakes in the stock. Guardian Wealth Advisors LLC bought a new position in PPG Industries during the 3rd quarter worth $27,000. Janiczek Wealth Management LLC bought a new position in shares of PPG Industries in the 2nd quarter valued at $29,000. Tradition Wealth Management LLC bought a new position in shares of PPG Industries in the 2nd quarter valued at $33,000. New England Asset Management Inc. bought a new position in shares of PPG Industries in the 2nd quarter valued at $33,000. Finally, Parkside Financial Bank & Trust increased its stake in shares of PPG Industries by 45.8% in the 1st quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 87 shares during the last quarter. Institutional investors own 80.04% of the company’s stock.

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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