PPG Industries (NYSE:PPG) Lowered to Neutral Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of PPG Industries (NYSE:PPG) from an overweight rating to a neutral rating in a research report released on Wednesday, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $115.00 price objective on the specialty chemicals company’s stock, down from their previous price objective of $145.00.

Several other brokerages have also weighed in on PPG. Barclays decreased their price objective on PPG Industries from $144.00 to $125.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Wells Fargo & Company dropped their price target on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Mizuho reduced their price objective on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $138.15.

PPG Industries Stock Down 0.1 %

PPG opened at $114.77 on Wednesday. The company’s 50-day moving average price is $119.57 and its two-hundred day moving average price is $123.64. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. PPG Industries has a twelve month low of $110.20 and a twelve month high of $145.60. The stock has a market cap of $26.63 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 1.97 and a beta of 1.23.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. As a group, equities analysts expect that PPG Industries will post 7.96 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.37%. PPG Industries’s dividend payout ratio is currently 57.51%.

Institutional Trading of PPG Industries

A number of large investors have recently modified their holdings of PPG. Legend Financial Advisors Inc. bought a new position in shares of PPG Industries in the fourth quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. grew its stake in PPG Industries by 465.1% in 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 in the last quarter. Capital Performance Advisors LLP bought a new position in shares of PPG Industries in the 3rd quarter worth $34,000. Prudent Man Investment Management Inc. purchased a new stake in shares of PPG Industries during the 4th quarter valued at $36,000. Finally, Albion Financial Group UT bought a new position in PPG Industries in the fourth quarter valued at $38,000. Institutional investors own 81.86% of the company’s stock.

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.