PPG Industries, Inc. (NYSE:PPG) had its target price boosted by Citigroup Inc. from $114.00 to $127.00 in a research report report published on Wednesday, October 25th. Citigroup Inc. currently has a neutral rating on the specialty chemicals company’s stock.
Several other research firms have also recently issued reports on PPG. Royal Bank Of Canada reaffirmed a hold rating and set a $109.00 price objective on shares of PPG Industries in a research report on Wednesday, August 9th. BidaskClub cut shares of PPG Industries from a buy rating to a hold rating in a research report on Monday, July 31st. SunTrust Banks, Inc. cut shares of PPG Industries from a buy rating to a hold rating and reduced their price target for the company from $120.00 to $113.00 in a research report on Monday, July 24th. Zacks Investment Research cut shares of PPG Industries from a hold rating to a sell rating in a research report on Monday, September 25th. Finally, Jefferies Group LLC reissued a buy rating and issued a $120.00 price target on shares of PPG Industries in a research report on Thursday, July 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. PPG Industries currently has an average rating of Hold and an average target price of $119.36.
PPG Industries (PPG) traded down $0.46 on Wednesday, reaching $114.67. 908,500 shares of the company’s stock were exchanged, compared to its average volume of 1,311,217. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.65 and a quick ratio of 1.26. PPG Industries has a twelve month low of $93.80 and a twelve month high of $119.85. The stock has a market cap of $29,180.75, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 2.28 and a beta of 1.59.
PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.52. PPG Industries had a net margin of 12.21% and a return on equity of 27.85%. The firm had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter last year, the firm earned $1.56 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. sell-side analysts forecast that PPG Industries will post 5.9 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, November 10th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Thursday, November 9th. PPG Industries’s payout ratio is 26.12%.
In other PPG Industries news, insider Viktoras R. Sekmakas sold 18,616 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $102.49, for a total transaction of $1,907,953.84. Following the transaction, the insider now owns 15,545 shares of the company’s stock, valued at $1,593,207.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.72% of the company’s stock.
A number of large investors have recently bought and sold shares of PPG. Harbour Capital Advisors LLC raised its stake in PPG Industries by 10,896.0% during the second quarter. Harbour Capital Advisors LLC now owns 10,996 shares of the specialty chemicals company’s stock worth $100,000 after purchasing an additional 10,896 shares during the period. Bruderman Asset Management LLC acquired a new stake in shares of PPG Industries in the second quarter worth $105,000. V Wealth Management LLC acquired a new stake in shares of PPG Industries in the second quarter worth $112,000. State of Alaska Department of Revenue acquired a new stake in shares of PPG Industries in the second quarter worth $113,000. Finally, Global X Management Co. LLC increased its position in shares of PPG Industries by 26.7% in the first quarter. Global X Management Co. LLC now owns 1,180 shares of the specialty chemicals company’s stock worth $124,000 after acquiring an additional 249 shares in the last quarter. 74.67% of the stock is currently owned by institutional investors.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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