PPG Industries (NYSE:PPG) Rating Reiterated by BMO Capital Markets

BMO Capital Markets restated their outperform rating on shares of PPG Industries (NYSE:PPG - Free Report) in a research report report published on Monday morning, Benzinga reports. They currently have a $155.00 price target on the specialty chemicals company's stock, down from their previous price target of $160.00.

PPG has been the topic of several other research reports. Mizuho dropped their price objective on shares of PPG Industries from $160.00 to $150.00 and set an "outperform" rating on the stock in a research note on Thursday. Bank of America dropped their price objective on shares of 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 upped their target price on shares of PPG Industries from $140.00 to $142.00 and gave the stock a "neutral" rating in a research report on Friday, July 19th. Barclays decreased their target price 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. Finally, Royal Bank of Canada decreased their target price 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. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $150.14.

PPG Industries Stock Down 1.6 %

Shares of PPG traded down $2.11 during midday trading on Monday, hitting $128.83. The company had a trading volume of 1,291,681 shares, compared to its average volume of 1,600,070. The company's 50 day moving average price is $127.41 and its 200 day moving average price is $128.93. The stock has a market cap of $30.21 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 1.73 and a beta of 1.26. PPG Industries has a 52 week low of $118.07 and a 52 week 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.

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

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Tuesday, November 12th. PPG Industries's payout ratio is 45.95%.

Institutional Trading of PPG Industries

A number of large investors have recently added to or reduced their stakes in PPG. Vanguard Group Inc. boosted its holdings in PPG Industries by 17.2% during the first quarter. Vanguard Group Inc. now owns 28,703,066 shares of the specialty chemicals company's stock worth $4,159,074,000 after buying an additional 4,222,402 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of PPG Industries by 20.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company's stock valued at $276,576,000 after acquiring an additional 368,410 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of PPG Industries by 91.0% in the 2nd quarter. Federated Hermes Inc. now owns 523,509 shares of the specialty chemicals company's stock valued at $65,905,000 after acquiring an additional 249,406 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of PPG Industries by 549.0% in the 2nd quarter. SG Americas Securities LLC now owns 256,142 shares of the specialty chemicals company's stock valued at $32,246,000 after acquiring an additional 216,675 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in shares of PPG Industries in the 1st quarter valued at approximately $31,033,000. 81.86% of the stock is currently owned by institutional investors.

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.