JPMorgan Chase & Co. Lowers PPG Industries (NYSE:PPG) Price Target to $145.00

PPG Industries (NYSE:PPG - Free Report) had its price target trimmed by JPMorgan Chase & Co. from $155.00 to $145.00 in a research report report published on Friday, Benzinga reports. The firm currently has an overweight rating on the specialty chemicals company's stock.

Several other equities research analysts have also recently commented on PPG. Barclays lowered 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. Bank of America cut their price target on PPG Industries from $152.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, July 22nd. UBS Group lifted their price objective on PPG Industries from $140.00 to $142.00 and gave the stock a "neutral" rating in a research note on Friday, July 19th. Royal Bank of Canada cut their target price on PPG Industries from $140.00 to $139.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 23rd. Finally, Mizuho lowered their price target on PPG Industries from $160.00 to $150.00 and set an "outperform" rating for the company in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, PPG Industries has an average rating of "Moderate Buy" and an average price target of $150.50.

PPG Industries Trading Down 0.3 %

PPG stock traded down $0.43 during trading on Friday, hitting $130.93. The company had a trading volume of 2,043,158 shares, compared to its average volume of 1,601,597. The firm has a 50-day moving average price of $127.21 and a 200-day moving average price of $129.19. PPG Industries has a 12 month low of $118.07 and a 12 month high of $151.16. The company has a quick ratio of 1.05, a current ratio of 1.49 and a debt-to-equity ratio of 0.73. The stock has a market cap of $30.55 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.73 and a beta of 1.26.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts' consensus estimates of $2.15 by ($0.02). The firm had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The company's revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.07 EPS. As a group, analysts predict that PPG Industries will post 8.24 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries's payout ratio is presently 44.59%.

Institutional Trading of PPG Industries

Institutional investors have recently modified their holdings of the company. First Bancorp Inc ME bought a new stake in shares of PPG Industries in the third quarter worth $256,000. Raymond James & Associates increased its stake in PPG Industries by 1.4% in the 3rd quarter. Raymond James & Associates now owns 607,248 shares of the specialty chemicals company's stock valued at $80,436,000 after buying an additional 8,188 shares during the last quarter. Blue Trust Inc. increased its stake in PPG Industries by 46.3% in the 3rd quarter. Blue Trust Inc. now owns 3,633 shares of the specialty chemicals company's stock valued at $457,000 after buying an additional 1,149 shares during the last quarter. Stratos Wealth Advisors LLC lifted its position in PPG Industries by 6.7% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 2,970 shares of the specialty chemicals company's stock worth $393,000 after buying an additional 187 shares in the last quarter. Finally, Aaron Wealth Advisors LLC acquired a new position in shares of PPG Industries during the 3rd quarter worth about $268,000. 81.86% of the stock is currently owned by institutional investors.

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.