Shares of PPG Industries, Inc. (NYSE:PPG) have received a consensus rating of “Hold” from the twenty-one brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $123.47.
Several brokerages recently commented on PPG. Zacks Investment Research raised PPG Industries from a “sell” rating to a “hold” rating in a research report on Friday, June 8th. ValuEngine cut PPG Industries from a “hold” rating to a “sell” rating in a research report on Saturday, June 2nd. JPMorgan Chase & Co. cut their price objective on PPG Industries from $118.00 to $113.00 and set an “overweight” rating for the company in a research report on Friday, June 1st. Jefferies Financial Group reaffirmed a “hold” rating on shares of PPG Industries in a research report on Thursday, May 31st. Finally, BMO Capital Markets cut their price objective on PPG Industries to $116.00 and set a “market perform” rating for the company in a research report on Thursday, May 17th.
Shares of NYSE PPG opened at $103.30 on Thursday. PPG Industries has a 52 week low of $100.36 and a 52 week high of $122.07. The company has a quick ratio of 1.22, a current ratio of 1.66 and a debt-to-equity ratio of 0.73. The company has a market cap of $25.97 billion, a P/E ratio of 17.60, a P/E/G ratio of 1.82 and a beta of 1.53.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 12th. Stockholders of record on Thursday, May 10th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, May 9th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.74%. PPG Industries’s dividend payout ratio (DPR) is currently 30.66%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. McKinley Carter Wealth Services Inc. bought a new position in shares of PPG Industries during the first quarter worth approximately $104,000. Archford Capital Strategies LLC bought a new position in shares of PPG Industries during the first quarter worth approximately $109,000. G&S Capital LLC bought a new position in shares of PPG Industries during the fourth quarter worth approximately $110,000. Summit Trail Advisors LLC increased its stake in shares of PPG Industries by 11,166.0% during the first quarter. Summit Trail Advisors LLC now owns 118,631 shares of the specialty chemicals company’s stock worth $119,000 after purchasing an additional 117,578 shares during the period. Finally, SeaCrest Wealth Management LLC bought a new position in shares of PPG Industries during the fourth quarter worth approximately $132,000. Institutional investors own 75.95% of the company’s stock.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.
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