Brokerages Set PPG Industries, Inc. (NYSE:PPG) PT at $157.13

PPG Industries, Inc. (NYSE:PPG) has been assigned a consensus recommendation of “Hold” from the sixteen analysts that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $157.13.

A number of brokerages have weighed in on PPG. Robert W. Baird reaffirmed an “outperform” rating and set a $150.00 target price on shares of PPG Industries in a research note on Friday, January 19th. Wells Fargo & Company raised their target price on shares of PPG Industries from $140.00 to $150.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 9th. KeyCorp increased their price target on shares of PPG Industries from $166.00 to $167.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. UBS Group reiterated a “neutral” rating and set a $156.00 price target (down previously from $173.00) on shares of PPG Industries in a report on Thursday, March 7th. Finally, Royal Bank of Canada cut their price target on shares of PPG Industries from $158.00 to $156.00 and set a “sector perform” rating on the stock in a report on Monday, January 22nd.

PPG Industries Price Performance

PPG stock opened at $144.54 on Thursday. PPG Industries has a 1 year low of $120.32 and a 1 year high of $152.89. The company has a market cap of $34.02 billion, a P/E ratio of 27.07, a PEG ratio of 1.39 and a beta of 1.28. The firm has a 50-day moving average of $141.22 and a 200 day moving average of $138.04. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.47 and a quick ratio of 1.05.

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

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Thursday, February 15th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Thursday, February 15th. PPG Industries’s dividend payout ratio is presently 48.69%.

Insider Transactions at PPG Industries

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

Institutional Trading of PPG Industries

Institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC increased its holdings in shares of PPG Industries by 11.0% in the 3rd quarter. FMR LLC now owns 358,333 shares of the specialty chemicals company’s stock worth $46,512,000 after buying an additional 35,571 shares during the last quarter. Ergoteles LLC raised its holdings in shares of PPG Industries by 90.3% in the 2nd quarter. Ergoteles LLC now owns 18,257 shares of the specialty chemicals company’s stock valued at $2,708,000 after purchasing an additional 8,662 shares in the last quarter. Nomura Holdings Inc. raised its holdings in shares of PPG Industries by 2.3% in the 3rd quarter. Nomura Holdings Inc. now owns 8,479 shares of the specialty chemicals company’s stock valued at $1,101,000 after purchasing an additional 192 shares in the last quarter. Financial Counselors Inc. raised its stake in shares of PPG Industries by 6.4% during the 3rd quarter. Financial Counselors Inc. now owns 1,883 shares of the specialty chemicals company’s stock worth $244,000 after acquiring an additional 114 shares in the last quarter. Finally, Vest Financial LLC raised its stake in shares of PPG Industries by 42.6% during the 4th quarter. Vest Financial LLC now owns 217,865 shares of the specialty chemicals company’s stock worth $32,582,000 after acquiring an additional 65,073 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.