PPG Industries, Inc. (PPG) Raised to Overweight at Atlantic Securities
Atlantic Securities upgraded shares of PPG Industries, Inc. (NYSE:PPG) from a neutral rating to an overweight rating in a report released on Wednesday morning. They currently have $125.00 price objective on the stock.
PPG has been the topic of a number of other reports. Zacks Investment Research upgraded PPG Industries from a sell rating to a hold rating in a research note on Monday, December 12th. Royal Bank of Canada restated a hold rating and issued a $101.00 price objective on shares of PPG Industries in a research note on Wednesday, January 4th. Susquehanna Bancshares Inc cut PPG Industries from a positive rating to a neutral rating and lowered their price objective for the company from $108.00 to $100.00 in a research note on Tuesday, January 17th. Barclays PLC restated a hold rating and issued a $110.00 price objective on shares of PPG Industries in a research note on Sunday, January 22nd. Finally, TheStreet cut PPG Industries from a buy rating to a hold rating in a research note on Monday, November 21st. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. PPG Industries has an average rating of Hold and an average price target of $113.71.
PPG Industries (NYSE:PPG) opened at 105.57 on Wednesday. The firm has a market cap of $27.14 billion, a PE ratio of 32.18 and a beta of 1.39. PPG Industries has a one year low of $89.64 and a one year high of $117.00. The stock has a 50 day moving average price of $101.99 and a 200 day moving average price of $98.70.
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PPG Industries (NYSE:PPG) last released its earnings results on Thursday, January 19th. The company reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.01. The company had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.55 billion. PPG Industries had a return on equity of 29.94% and a net margin of 5.84%. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.16 EPS. Equities research analysts expect that PPG Industries will post $6.23 EPS for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Friday, February 17th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Wednesday, February 15th. PPG Industries’s payout ratio is 48.93%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Cadence Capital Management LLC raised its position in shares of PPG Industries by 0.3% in the fourth quarter. Cadence Capital Management LLC now owns 2,128 shares of the company’s stock valued at $202,000 after buying an additional 6 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its position in shares of PPG Industries by 0.3% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 2,799 shares of the company’s stock valued at $265,000 after buying an additional 9 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its position in shares of PPG Industries by 0.3% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 3,982 shares of the company’s stock valued at $412,000 after buying an additional 13 shares during the last quarter. OLD Dominion Capital Management Inc. raised its position in shares of PPG Industries by 0.3% in the third quarter. OLD Dominion Capital Management Inc. now owns 5,266 shares of the company’s stock valued at $544,000 after buying an additional 15 shares during the last quarter. Finally, Evercore Wealth Management LLC raised its position in shares of PPG Industries by 0.4% in the second quarter. Evercore Wealth Management LLC now owns 7,666 shares of the company’s stock valued at $799,000 after buying an additional 29 shares during the last quarter. 71.49% of the stock is owned by institutional investors.
PPG Industries Company Profile
PPG Industries, Inc (PPG) manufactures and distributes a range of coatings, specialty materials and glass products. PPG operates through three business segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, architectural-Americas and Asia Pacific, and architectural-EMEA coatings businesses.
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