PPG Industries (NYSE:PPG) PT Lowered to $164.00 at KeyCorp

PPG Industries (NYSE:PPG) had its price objective lowered by equities researchers at KeyCorp from $167.00 to $164.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the specialty chemicals company’s stock. KeyCorp’s price target points to a potential upside of 17.22% from the stock’s current price.

Several other research firms have also weighed in on PPG. Royal Bank of Canada cut their target price on PPG Industries from $158.00 to $156.00 and set a “sector perform” rating on the stock in a research note on Monday, January 22nd. Wells Fargo & Company increased their price objective on PPG Industries from $140.00 to $150.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 9th. Robert W. Baird reissued an “outperform” rating and issued a $150.00 target price on shares of PPG Industries in a research report on Friday, January 19th. Vertical Research raised PPG Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Finally, Wolfe Research assumed coverage on PPG Industries in a research report on Friday, March 1st. They issued a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $156.93.

PPG Industries Trading Up 0.6 %

Shares of PPG opened at $139.91 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.47 and a debt-to-equity ratio of 0.72. PPG Industries has a 12-month low of $120.32 and a 12-month high of $152.89. The firm has a market capitalization of $32.93 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 1.37 and a beta of 1.28. The stock’s fifty day simple moving average is $141.14 and its 200-day simple moving average is $138.63.

PPG Industries (NYSE:PPG) last released its earnings results on Friday, January 19th. The specialty chemicals company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.04. PPG Industries had a return on equity of 23.51% and a net margin of 6.96%. The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.27 billion. During the same quarter in the prior year, the firm posted $1.22 earnings per share. The company’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, research analysts predict that PPG Industries will post 8.45 earnings per share for the current year.

Insider Activity

In other news, CFO Vincent J. Morales sold 3,400 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the completion of the sale, the chief financial officer now directly owns 28,439 shares in the company, valued at approximately $4,008,192.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Institutional Trading of PPG Industries

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of PPG Industries by 17.2% during the 4th quarter. Vanguard Group Inc. now owns 24,480,664 shares of the specialty chemicals company’s stock worth $3,661,083,000 after buying an additional 3,600,558 shares during the last quarter. Geode Capital Management LLC increased its holdings in PPG Industries by 2.2% in the 1st quarter. Geode Capital Management LLC now owns 4,854,892 shares of the specialty chemicals company’s stock worth $647,037,000 after purchasing an additional 106,294 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in PPG Industries by 163,082.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,157,889 shares of the specialty chemicals company’s stock worth $522,813,000 after purchasing an additional 4,155,341 shares in the last quarter. Norges Bank acquired a new position in PPG Industries in the 4th quarter worth about $554,685,000. Finally, Invesco Ltd. increased its holdings in PPG Industries by 41.1% in the 3rd quarter. Invesco Ltd. now owns 3,294,142 shares of the specialty chemicals company’s stock worth $427,580,000 after purchasing an additional 959,849 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The 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; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.