PPG Industries (NYSE:PPG) Downgraded by KeyCorp to “Hold”

PPG Industries (NYSE:PPG) was downgraded by KeyCorp from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on the company. BMO Capital Markets restated an “outperform” rating and set a $155.00 price objective (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. StockNews.com raised shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 12th. Royal Bank of Canada lowered their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. decreased their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Finally, Mizuho cut their price target on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.29.

PPG Industries Trading Up 0.5 %

Shares of PPG Industries stock traded up $0.57 on Monday, reaching $121.82. The company had a trading volume of 56,942 shares, compared to its average volume of 1,616,553. The firm’s 50-day moving average price is $125.30 and its two-hundred day moving average price is $126.37. PPG Industries has a 1 year low of $118.07 and a 1 year high of $150.82. The firm has a market cap of $28.26 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 1.90 and a beta of 1.24. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). The business had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.07 EPS. As a group, research analysts predict that PPG Industries will post 8.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the sale, the vice president now owns 13,454 shares of the company’s stock, valued at $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.56% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PPG Industries

A number of hedge funds have recently made changes to their positions in the company. Financial Connections Group Inc. acquired a new stake in PPG Industries in the 2nd quarter valued at approximately $25,000. Pin Oak Investment Advisors Inc. increased its stake in PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 200 shares during the period. Capital Performance Advisors LLP acquired a new stake in PPG Industries during the 3rd quarter worth approximately $34,000. Rothschild Investment LLC acquired a new position in shares of PPG Industries in the second quarter worth $37,000. Finally, Hara Capital LLC acquired a new stake in shares of PPG Industries in the third quarter valued at $40,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

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.