PPG Industries (NYSE:PPG) Sets New 52-Week Low – Here’s What Happened

PPG Industries, Inc. (NYSE:PPG)’s stock price hit a new 52-week low on Friday . The company traded as low as $113.49 and last traded at $113.49, with a volume of 491356 shares. The stock had previously closed at $115.69.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PPG shares. StockNews.com cut PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. Mizuho dropped their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. JPMorgan Chase & Co. decreased their target price on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Citigroup reduced their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $149.29.

PPG Industries Trading Down 2.1 %

The firm has a market cap of $26.29 billion, a P/E ratio of 17.96, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. The company’s fifty day moving average price is $122.03 and its two-hundred day moving average price is $125.05. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

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

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is currently 43.11%.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the sale, the vice president now owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On PPG Industries

Large investors have recently added to or reduced their stakes in the business. Private Advisor Group LLC lifted its holdings in PPG Industries by 8.4% during the 2nd quarter. Private Advisor Group LLC now owns 11,342 shares of the specialty chemicals company’s stock worth $1,428,000 after purchasing an additional 879 shares in the last quarter. Acadian Asset Management LLC boosted its position in PPG Industries by 2,153.3% during the 2nd quarter. Acadian Asset Management LLC now owns 6,512 shares of the specialty chemicals company’s stock valued at $818,000 after buying an additional 6,223 shares during the period. PFG Investments LLC increased its stake in shares of PPG Industries by 9.6% during the second quarter. PFG Investments LLC now owns 2,148 shares of the specialty chemicals company’s stock valued at $270,000 after buying an additional 189 shares during the period. Choreo LLC bought a new stake in shares of PPG Industries during the 2nd quarter valued at about $616,000. Finally, American Century Companies Inc. grew its stake in PPG Industries by 176.4% in the second quarter. American Century Companies Inc. now owns 226,215 shares of the specialty chemicals company’s stock worth $28,478,000 after purchasing an additional 144,357 shares during the period. 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.