PPG Industries, Inc. (NYSE:PPG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of PPG Industries, Inc. (NYSE:PPG) have earned an average recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $151.08.

A number of equities analysts have recently commented on PPG shares. Royal Bank of Canada cut their price objective on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 23rd. Barclays reduced their price target on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, July 22nd. UBS Group increased their price objective on PPG Industries from $140.00 to $142.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. KeyCorp reduced their target price on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, BMO Capital Markets dropped their price target on PPG Industries from $165.00 to $161.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd.

Hedge Funds Weigh In On PPG Industries

A number of hedge funds have recently modified their holdings of PPG. Richardson Financial Services Inc. purchased a new position in PPG Industries during the fourth quarter valued at $29,000. YHB Investment Advisors Inc. purchased a new stake in PPG Industries in the first quarter worth about $29,000. LifeSteps Financial Inc. bought a new position in shares of PPG Industries during the first quarter valued at approximately $29,000. Financial Connections Group Inc. purchased a new position in shares of PPG Industries during the second quarter valued at approximately $25,000. Finally, Riverview Trust Co purchased a new position in shares of PPG Industries during the first quarter valued at approximately $34,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Up 0.7 %

PPG Industries stock opened at $128.25 on Monday. The firm has a market capitalization of $30.07 billion, a price-to-earnings ratio of 21.66, a P/E/G ratio of 1.72 and a beta of 1.26. The firm has a 50 day simple moving average of $126.09 and a 200 day simple moving average of $129.47. PPG Industries has a 1-year low of $118.07 and a 1-year high of $151.16. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, July 18th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.02. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same period in the previous year, the company posted $2.25 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. On average, analysts predict that PPG Industries will post 8.24 earnings per share for the current year.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 12th were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.12%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.65. The ex-dividend date was Monday, August 12th. PPG Industries’s dividend payout ratio is presently 45.95%.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.