PPG Industries Inc. (NYSE:PPG) has earned an average rating of “Buy” from the thirteen ratings firms that are presently covering the stock. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $123.67.
A number of analysts have recently weighed in on PPG shares. Morgan Stanley reissued a “hold” rating on shares of PPG Industries in a research report on Thursday, June 16th. Seaport Global Securities raised shares of PPG Industries from an “accumulate” rating to a “buy” rating and raised their price target for the stock from $125.00 to $130.00 in a research report on Tuesday, July 26th. Zacks Investment Research raised shares of PPG Industries from a “sell” rating to a “hold” rating in a research report on Friday, September 9th. Jefferies Group reissued a “buy” rating and set a $129.00 price target (up previously from $127.00) on shares of PPG Industries in a research report on Monday, July 25th. Finally, Credit Suisse Group AG reissued a “buy” rating and set a $115.00 price target on shares of PPG Industries in a research report on Tuesday, August 9th.
In related news, insider Viktoras R. Sekmakas sold 40,950 shares of PPG Industries stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $106.64, for a total transaction of $4,366,908.00. Following the sale, the insider now directly owns 69,044 shares in the company, valued at $7,362,852.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Timothy M. Knavish sold 9,300 shares of PPG Industries stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $104.08, for a total transaction of $967,944.00. Following the sale, the vice president now owns 11,806 shares in the company, valued at $1,228,768.48. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.
Several large investors have recently modified their holdings of PPG. Cable Hill Partners LLC boosted its stake in shares of PPG Industries by 1.9% in the second quarter. Cable Hill Partners LLC now owns 1,346 shares of the company’s stock worth $142,000 after buying an additional 25 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of PPG Industries during the first quarter worth $144,000. Invictus RG bought a new stake in shares of PPG Industries during the first quarter worth $147,000. Nikko Asset Management Americas Inc. bought a new stake in shares of PPG Industries during the first quarter worth $157,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of PPG Industries by 12.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,413 shares of the company’s stock worth $158,000 after buying an additional 162 shares in the last quarter. Institutional investors and hedge funds own 73.04% of the company’s stock.
PPG Industries (NYSE:PPG) opened at 93.73 on Monday. The firm has a 50-day moving average of $103.53 and a 200 day moving average of $106.99. PPG Industries has a 52 week low of $88.37 and a 52 week high of $117.00. The firm has a market capitalization of $24.96 billion, a PE ratio of 17.32 and a beta of 1.47.
PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, July 21st. The company reported $1.85 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.85. PPG Industries had a net margin of 9.57% and a return on equity of 30.94%. The business earned $4.10 billion during the quarter, compared to the consensus estimate of $4.17 billion. During the same quarter last year, the company earned $1.67 earnings per share. The business’s quarterly revenue was down .9% compared to the same quarter last year. Analysts predict that PPG Industries will post $6.17 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Wednesday, August 10th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, August 8th. PPG Industries’s dividend payout ratio is currently 29.57%.
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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