PPG Industries, Inc. (PPG) Given Consensus Recommendation of “Hold” by Analysts
PPG Industries, Inc. (NYSE:PPG) has been assigned an average recommendation of “Hold” from the eighteen research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $119.36.
PPG has been the topic of several recent analyst reports. Jefferies Group LLC reissued a “buy” rating and set a $120.00 target price on shares of PPG Industries in a research note on Thursday, July 6th. Argus raised PPG Industries from a “hold” rating to a “buy” rating and lifted their target price for the company from $110.61 to $136.00 in a research note on Wednesday, July 5th. BidaskClub raised PPG Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Credit Suisse Group set a $113.00 target price on PPG Industries and gave the company a “buy” rating in a research note on Sunday, July 23rd. Finally, Robert W. Baird reissued a “buy” rating and set a $115.00 target price on shares of PPG Industries in a research note on Friday, September 1st.
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In other news, VP Glenn E. Bost II sold 19,812 shares of PPG Industries stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $100.80, for a total value of $1,997,049.60. Following the completion of the transaction, the vice president now owns 52,748 shares in the company, valued at approximately $5,316,998.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Viktoras R. Sekmakas sold 18,616 shares of PPG Industries stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $102.49, for a total value of $1,907,953.84. Following the completion of the transaction, the insider now owns 15,545 shares of the company’s stock, valued at approximately $1,593,207.05. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the company. Harbour Capital Advisors LLC boosted its holdings in shares of PPG Industries by 10,896.0% in the 2nd 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 purchased a new position in shares of PPG Industries in the 2nd quarter worth approximately $105,000. V Wealth Management LLC purchased a new position in shares of PPG Industries in the 2nd quarter worth approximately $112,000. State of Alaska Department of Revenue purchased a new position in shares of PPG Industries in the 2nd quarter worth approximately $113,000. Finally, First Interstate Bank boosted its holdings in shares of PPG Industries by 3.1% in the 2nd quarter. First Interstate Bank now owns 1,157 shares of the specialty chemicals company’s stock worth $127,000 after purchasing an additional 35 shares during the period. Hedge funds and other institutional investors own 74.51% of the company’s stock.
PPG Industries (NYSE PPG) opened at 116.24 on Wednesday. The stock’s 50 day moving average price is $111.87 and its 200 day moving average price is $108.60. PPG Industries has a one year low of $90.88 and a one year high of $119.85. The stock has a market cap of $29.81 billion, a price-to-earnings ratio of 30.58 and a beta of 1.55.
PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.52. The company had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.75 billion. PPG Industries had a return on equity of 27.85% and a net margin of 12.21%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $1.56 EPS. Equities analysts predict that PPG Industries will post $5.91 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 10th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Thursday, November 9th. PPG Industries’s dividend payout ratio (DPR) is 26.12%.
About PPG Industries
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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