PPG Industries, Inc. (PPG) Given Average Rating of “Hold” by Analysts

Shares of PPG Industries, Inc. (NYSE:PPG) have received a consensus recommendation of “Hold” from the twenty analysts that are covering the company, Marketbeat reports. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $123.25.

A number of research firms have commented on PPG. Raymond James Financial began coverage on shares of PPG Industries in a research note on Tuesday, December 19th. They set an “outperform” rating and a $139.00 target price on the stock. Atlantic Securities cut shares of PPG Industries from an “overweight” rating to a “neutral” rating in a research note on Wednesday, January 17th. Robert W. Baird raised their target price on shares of PPG Industries from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, October 20th. Wells Fargo & Co restated a “market perform” rating and set a $120.00 target price (up previously from $110.00) on shares of PPG Industries in a research note on Tuesday, November 28th. They noted that the move was a valuation call. Finally, Northcoast Research restated a “buy” rating and set a $128.00 target price on shares of PPG Industries in a research note on Friday, January 19th.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Intellectus Partners LLC increased its position in PPG Industries by 11.1% in the second quarter. Intellectus Partners LLC now owns 4,464 shares of the specialty chemicals company’s stock worth $491,000 after purchasing an additional 446 shares during the last quarter. Mutual of America Capital Management LLC increased its position in PPG Industries by 1.5% in the fourth quarter. Mutual of America Capital Management LLC now owns 32,370 shares of the specialty chemicals company’s stock worth $3,781,000 after purchasing an additional 470 shares during the last quarter. Liberty Capital Management Inc. increased its position in PPG Industries by 11.2% in the fourth quarter. Liberty Capital Management Inc. now owns 4,800 shares of the specialty chemicals company’s stock worth $567,000 after purchasing an additional 484 shares during the last quarter. Stephens Inc. AR increased its position in PPG Industries by 1.4% in the fourth quarter. Stephens Inc. AR now owns 34,724 shares of the specialty chemicals company’s stock worth $4,056,000 after purchasing an additional 495 shares during the last quarter. Finally, Penserra Capital Management LLC increased its position in PPG Industries by 18.6% in the fourth quarter. Penserra Capital Management LLC now owns 3,150 shares of the specialty chemicals company’s stock worth $367,000 after purchasing an additional 495 shares during the last quarter. Institutional investors own 75.21% of the company’s stock.

Shares of PPG Industries (NYSE:PPG) opened at $110.30 on Friday. PPG Industries has a one year low of $99.79 and a one year high of $122.07. The company has a market cap of $29,000.07, a P/E ratio of 17.48, a price-to-earnings-growth ratio of 1.99 and a beta of 1.58. The company has a current ratio of 1.65, a quick ratio of 1.26 and a debt-to-equity ratio of 0.68.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, January 18th. The specialty chemicals company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. PPG Industries had a net margin of 10.98% and a return on equity of 26.76%. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter last year, the business earned $1.19 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. equities analysts forecast that PPG Industries will post 6.57 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Thursday, February 15th. PPG Industries’s payout ratio is currently 28.53%.

PPG Industries announced that its board has initiated a stock repurchase plan on Thursday, December 14th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

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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.

Analyst Recommendations for PPG Industries (NYSE:PPG)

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