Royal Bank of Canada Has Lowered Expectations for PPG Industries (NYSE:PPG) Stock Price

PPG Industries (NYSE:PPG) had its price target reduced by Royal Bank of Canada from $128.00 to $120.00 in a research note published on Tuesday,Benzinga reports. They currently have a sector perform rating on the specialty chemicals company’s stock.

PPG has been the topic of several other research reports. Barclays dropped their target price on shares of PPG Industries from $144.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Monday. Mizuho decreased their target price on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 target price (down from $160.00) on shares of PPG Industries in a report on Monday, October 21st. UBS Group reduced their price target on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Finally, KeyCorp downgraded shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, PPG Industries has an average rating of “Moderate Buy” and a consensus price target of $140.46.

PPG Industries Stock Up 3.0 %

PPG opened at $115.93 on Tuesday. PPG Industries has a fifty-two week low of $110.20 and a fifty-two week high of $145.60. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The company has a fifty day moving average of $120.37 and a two-hundred day moving average of $123.99. The stock has a market capitalization of $26.90 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 1.99 and a beta of 1.23.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, research analysts expect that PPG Industries will post 7.9 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.68 per share. The ex-dividend date is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.35%. PPG Industries’s dividend payout ratio is currently 57.51%.

Institutional Investors Weigh In On PPG Industries

Several hedge funds have recently modified their holdings of PPG. Lindbrook Capital LLC boosted its position in shares of PPG Industries by 25.5% in the fourth quarter. Lindbrook Capital LLC now owns 852 shares of the specialty chemicals company’s stock worth $102,000 after acquiring an additional 173 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of PPG Industries in the fourth quarter worth approximately $82,071,000. Dana Investment Advisors Inc. acquired a new stake in shares of PPG Industries in the fourth quarter worth approximately $1,840,000. Arizona State Retirement System boosted its position in shares of PPG Industries by 0.9% in the fourth quarter. Arizona State Retirement System now owns 67,763 shares of the specialty chemicals company’s stock worth $8,094,000 after acquiring an additional 579 shares during the last quarter. Finally, Sound Financial Strategies Group LLC acquired a new stake in shares of PPG Industries in the fourth quarter worth approximately $626,000. 81.86% of the stock is owned by institutional investors and hedge funds.

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.