Brokerages Set PPG Industries, Inc. (NYSE:PPG) Target Price at $138.15

Shares of PPG Industries, Inc. (NYSE:PPG) have been given a consensus recommendation of “Hold” by the fifteen ratings firms that are presently covering the stock, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $138.15.

PPG has been the subject of a number of analyst reports. The Goldman Sachs Group lowered their target price on PPG Industries from $153.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, February 6th. Seaport Res Ptn downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Barclays reiterated an “equal weight” rating on shares of PPG Industries in a report on Monday, February 3rd. Mizuho lowered their price target on shares of PPG Industries from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, February 3rd. Finally, UBS Group reduced their price objective on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, January 31st.

Insider Buying and Selling at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On PPG Industries

A number of institutional investors have recently bought and sold shares of the business. Mattson Financial Services LLC acquired a new stake in shares of PPG Industries in the fourth quarter worth $226,000. Park Square Financial Group LLC purchased a new stake in PPG Industries in the fourth quarter valued at $26,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in PPG Industries during the 4th quarter worth about $25,156,000. Brooklyn FI LLC purchased a new position in shares of PPG Industries during the 4th quarter valued at about $232,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of PPG Industries in the 4th quarter valued at about $568,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Performance

PPG stock opened at $111.00 on Thursday. PPG Industries has a 1-year low of $109.15 and a 1-year high of $145.61. The business has a 50-day moving average price of $116.45 and a 200 day moving average price of $122.50. The company has a market capitalization of $25.19 billion, a P/E ratio of 23.47, a PEG ratio of 2.19 and a beta of 1.22. 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 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 research analysts forecast that PPG Industries will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were paid a $0.68 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.45%. PPG Industries’s dividend payout ratio (DPR) is 57.51%.

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.