PPG Industries (NYSE:PPG) PT Lowered to $155.00 at Deutsche Bank Aktiengesellschaft

PPG Industries (NYSE:PPG) had its target price reduced by Deutsche Bank Aktiengesellschaft from $160.00 to $155.00 in a report published on Monday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the specialty chemicals company’s stock.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada lowered their target price on PPG Industries from $158.00 to $156.00 and set a sector perform rating on the stock in a research note on Monday, January 22nd. KeyCorp lowered their target price on PPG Industries from $164.00 to $162.00 and set an overweight rating on the stock in a research note on Monday. Barclays cut PPG Industries from an overweight rating to an equal weight rating and lowered their target price for the company from $163.00 to $149.00 in a research note on Tuesday, February 27th. UBS Group lowered their target price on PPG Industries from $156.00 to $150.00 and set a neutral rating on the stock in a research note on Friday, April 19th. Finally, Vertical Research raised PPG Industries from a hold rating to a buy rating in a research note on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $155.47.

PPG Industries Trading Up 0.1 %

Shares of PPG opened at $130.52 on Monday. The business’s 50-day moving average price is $139.81 and its 200 day moving average price is $138.91. The stock has a market capitalization of $30.61 billion, a P/E ratio of 22.05, a P/E/G ratio of 1.57 and a beta of 1.28. PPG Industries has a 1-year low of $120.32 and a 1-year high of $152.89. The company has a current ratio of 1.55, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.86. PPG Industries had a return on equity of 22.98% and a net margin of 7.74%. The firm had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter last year, the business posted $1.82 EPS. PPG Industries’s revenue was down 1.6% on a year-over-year basis. Analysts expect that PPG Industries will post 8.47 earnings per share for the current year.

PPG Industries announced that its board has authorized a stock buyback program on Thursday, April 18th that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the specialty chemicals company to purchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 10th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.60 annualized dividend and a yield of 1.99%. PPG Industries’s dividend payout ratio (DPR) is currently 43.92%.

Insider Buying and Selling

In related news, CFO Vincent J. Morales sold 3,400 shares of the business’s stock in a transaction that occurred 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 directly owns 28,439 shares in the company, valued at approximately $4,008,192.66. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Valued Wealth Advisors LLC acquired a new position in shares of PPG Industries during the fourth quarter worth approximately $26,000. Private Wealth Management Group LLC acquired a new position in shares of PPG Industries during the fourth quarter worth approximately $27,000. SJS Investment Consulting Inc. lifted its holdings in shares of PPG Industries by 588.5% during the fourth quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock worth $27,000 after buying an additional 153 shares during the last quarter. CVA Family Office LLC acquired a new position in shares of PPG Industries during the fourth quarter worth approximately $28,000. Finally, Richardson Financial Services Inc. acquired a new position in shares of PPG Industries during the fourth quarter worth approximately $29,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

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.