Brokerages Set PPG Industries, Inc. (NYSE:PPG) Target Price at $158.40

PPG Industries, Inc. (NYSE:PPG) has received a consensus rating of “Hold” from the fourteen ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $158.00.

Several equities research analysts have weighed in on the company. Royal Bank of Canada cut their price target on PPG Industries from $158.00 to $156.00 and set a “sector perform” rating on the stock in a report on Monday, January 22nd. Barclays downgraded PPG Industries from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $163.00 to $149.00 in a research note on Tuesday, February 27th. Citigroup decreased their price objective on PPG Industries from $170.00 to $161.00 and set a “buy” rating for the company in a research report on Wednesday, April 10th. KeyCorp decreased their price objective on PPG Industries from $167.00 to $164.00 and set an “overweight” rating for the company in a research report on Tuesday, April 9th. Finally, UBS Group reduced their price target on PPG Industries from $156.00 to $150.00 and set a “neutral” rating for the company in a report on Friday.

PPG Industries Stock Down 3.1 %

Shares of PPG opened at $130.92 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.05 and a current ratio of 1.47. The stock has a 50 day moving average price of $140.36 and a 200 day moving average price of $138.88. The stock has a market capitalization of $30.81 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 1.61 and a beta of 1.28. PPG Industries has a one year low of $120.32 and a one year high of $152.89.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, April 18th. The specialty chemicals company reported $1.86 EPS for the quarter, meeting the consensus estimate of $1.86. PPG Industries had a return on equity of 23.51% and a net margin of 6.96%. The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same quarter in the prior year, the company posted $1.82 EPS. The company’s quarterly revenue was down 1.6% on a year-over-year basis. Equities research analysts forecast that PPG Industries will post 8.46 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, May 9th. PPG Industries’s payout ratio is 48.69%.

Insider Activity

In other news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total value of $479,196.00. Following the completion of the sale, the chief financial officer now owns 28,439 shares of the company’s stock, valued at $4,008,192.66. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PPG. Wedmont Private Capital boosted its holdings in PPG Industries by 2.9% in the fourth quarter. Wedmont Private Capital now owns 2,464 shares of the specialty chemicals company’s stock valued at $363,000 after purchasing an additional 70 shares during the last quarter. Barrett & Company Inc. boosted its stake in PPG Industries by 10.6% during the 4th quarter. Barrett & Company Inc. now owns 763 shares of the specialty chemicals company’s stock valued at $114,000 after purchasing an additional 73 shares in the last quarter. West Michigan Advisors LLC boosted its stake in shares of PPG Industries by 3.4% during the 4th quarter. West Michigan Advisors LLC now owns 2,262 shares of the specialty chemicals company’s stock worth $338,000 after acquiring an additional 74 shares in the last quarter. Colony Group LLC boosted its stake in shares of PPG Industries by 3.0% during the 2nd quarter. Colony Group LLC now owns 2,540 shares of the specialty chemicals company’s stock worth $377,000 after acquiring an additional 74 shares in the last quarter. Finally, FinTrust Capital Advisors LLC boosted its position in shares of PPG Industries by 38.6% in the fourth quarter. FinTrust Capital Advisors LLC now owns 273 shares of the specialty chemicals company’s stock worth $41,000 after buying an additional 76 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

About PPG Industries

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.