Shares of PPG Industries, Inc. (NYSE:PPG) have been given a consensus recommendation of “Hold” by the eighteen ratings firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $116.12.
A number of brokerages have weighed in on PPG. Royal Bank of Canada raised PPG Industries from a “sector perform” rating to an “outperform” rating and set a $96.43 target price for the company in a research report on Thursday, December 20th. Credit Suisse Group decreased their target price on PPG Industries to $112.00 and set a “neutral” rating for the company in a research report on Friday, January 18th. Argus raised PPG Industries to a “buy” rating and set a $136.00 target price for the company in a research report on Thursday, December 20th. Longbow Research began coverage on PPG Industries in a research report on Friday, November 30th. They issued a “neutral” rating for the company. Finally, Zacks Investment Research reissued a “hold” rating on shares of PPG Industries in a research report on Monday, December 31st.
PPG opened at $110.03 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.36 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $26.29 billion, a PE ratio of 18.59, a P/E/G ratio of 2.10 and a beta of 1.19. PPG Industries has a 1 year low of $94.37 and a 1 year high of $116.73.
PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Thursday, January 17th. The specialty chemicals company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.05. PPG Industries had a return on equity of 28.47% and a net margin of 8.84%. The firm had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the previous year, the firm earned $1.19 EPS. PPG Industries’s quarterly revenue was down 1.0% compared to the same quarter last year. Sell-side analysts forecast that PPG Industries will post 6.23 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 22nd were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Thursday, February 21st. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.74%. PPG Industries’s dividend payout ratio is currently 32.43%.
Institutional investors have recently added to or reduced their stakes in the business. TD Asset Management Inc. grew its stake in shares of PPG Industries by 0.9% during the 4th quarter. TD Asset Management Inc. now owns 72,609 shares of the specialty chemicals company’s stock valued at $7,423,000 after purchasing an additional 616 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of PPG Industries by 1.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 126,124 shares of the specialty chemicals company’s stock valued at $12,894,000 after purchasing an additional 1,867 shares during the period. G&S Capital LLC grew its stake in shares of PPG Industries by 13.9% during the 4th quarter. G&S Capital LLC now owns 1,275 shares of the specialty chemicals company’s stock valued at $130,000 after purchasing an additional 156 shares during the period. Quantamental Technologies LLC bought a new stake in shares of PPG Industries during the 4th quarter valued at about $45,000. Finally, FDx Advisors Inc. grew its stake in shares of PPG Industries by 7.5% during the 3rd quarter. FDx Advisors Inc. now owns 17,407 shares of the specialty chemicals company’s stock valued at $1,900,000 after purchasing an additional 1,216 shares during the period. Institutional investors and hedge funds own 78.40% of the company’s stock.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.
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