PPG Industries, Inc. (NYSE:PPG) Receives $151.08 Consensus PT from Brokerages

PPG Industries, Inc. (NYSE:PPG) has been assigned an average rating of “Moderate Buy” from the fifteen ratings firms that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $151.08.

Several equities research analysts recently issued reports on the company. KeyCorp dropped their price objective on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Royal Bank of Canada cut their price objective on PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a report on Tuesday, July 23rd. Barclays lowered their target price on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, July 22nd. Bank of America cut their price target on shares of PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Finally, UBS Group raised their price objective on shares of PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, July 19th.

Institutional Investors Weigh In On PPG Industries

Several institutional investors have recently bought and sold shares of the stock. Private Wealth Management Group LLC bought a new stake in PPG Industries in the fourth quarter valued at approximately $27,000. Richardson Financial Services Inc. purchased a new position in shares of PPG Industries in the fourth quarter worth $29,000. DiNuzzo Private Wealth Inc. bought a new stake in PPG Industries during the 4th quarter valued at $29,000. LifeSteps Financial Inc. purchased a new stake in PPG Industries during the 1st quarter valued at $29,000. Finally, YHB Investment Advisors Inc. bought a new stake in PPG Industries in the 1st quarter worth $29,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Trading Up 1.1 %

Shares of PPG Industries stock opened at $126.53 on Friday. The company’s 50-day moving average price is $125.53 and its 200-day moving average price is $132.72. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73. PPG Industries has a 12-month low of $118.07 and a 12-month high of $151.16. The company has a market cap of $29.52 billion, a price-to-earnings ratio of 21.37, a PEG ratio of 1.65 and a beta of 1.26.

PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.02. PPG Industries had a net margin of 7.98% and a return on equity of 23.57%. The business had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.93 billion. During the same period in the prior year, the company posted $2.25 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities analysts expect that PPG Industries will post 8.25 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Monday, August 12th will be issued a $0.68 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.15%. This is an increase from PPG Industries’s previous quarterly dividend of $0.65. PPG Industries’s payout ratio is currently 45.95%.

About PPG Industries

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.