PPG Industries (NYSE:PPG) Price Target Cut to $155.00 by Analysts at Deutsche Bank Aktiengesellschaft

PPG Industries (NYSE:PPG) had its price objective trimmed by Deutsche Bank Aktiengesellschaft from $160.00 to $155.00 in a report issued on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the specialty chemicals company’s stock.

PPG has been the topic of several other research reports. Citigroup decreased their target price on PPG Industries from $170.00 to $161.00 and set a buy rating on the stock in a research note on Wednesday, April 10th. Royal Bank of Canada cut their target price on shares of 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. Wolfe Research initiated coverage on shares of PPG Industries in a research report on Friday, March 1st. They issued a peer perform rating for the company. UBS Group cut their price objective on PPG Industries from $156.00 to $150.00 and set a neutral rating on the stock in a research report on Friday, April 19th. Finally, KeyCorp decreased their target price on PPG Industries from $164.00 to $162.00 and set an overweight rating for the company in a report on Monday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, PPG Industries currently has an average rating of Hold and a consensus price target of $155.47.

PPG Industries Trading Down 1.0 %

NYSE PPG opened at $129.23 on Monday. PPG Industries has a 12 month low of $120.32 and a 12 month high of $152.89. The stock has a market capitalization of $30.30 billion, a P/E ratio of 21.83, a PEG ratio of 1.62 and a beta of 1.28. The firm’s 50-day moving average is $139.54 and its two-hundred day moving average is $138.85. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.55 and a quick ratio of 1.05.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.86. The firm had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.43 billion. PPG Industries had a net margin of 7.74% and a return on equity of 22.98%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the company posted $1.82 EPS. On average, sell-side analysts anticipate that PPG Industries will post 8.45 earnings per share for the current year.

PPG Industries declared that its Board of Directors has approved a stock buyback plan on Thursday, April 18th that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the specialty chemicals company to repurchase up to 8.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 10th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Thursday, May 9th. PPG Industries’s payout ratio is 43.92%.

Insiders Place Their Bets

In related news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $140.94, for a total value of $479,196.00. Following the transaction, the chief financial officer now directly owns 28,439 shares of the company’s stock, valued at approximately $4,008,192.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.55% of the stock is owned by corporate insiders.

Institutional Trading of PPG Industries

A number of large investors have recently made changes to their positions in the company. Valued Wealth Advisors LLC purchased a new stake in PPG Industries in the fourth quarter valued at approximately $26,000. Private Wealth Management Group LLC purchased a new stake in PPG Industries in the 4th quarter valued at $27,000. SJS Investment Consulting Inc. boosted its stake in PPG Industries by 588.5% during the 4th quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 153 shares during the period. CVA Family Office LLC purchased a new position in PPG Industries during the 4th quarter worth $28,000. Finally, Richardson Financial Services Inc. acquired a new position in PPG Industries in the fourth quarter valued at $29,000. 81.86% of the stock is owned by institutional investors and hedge funds.

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.