Brokerages Set PPG Industries, Inc. (NYSE:PPG) Target Price at $149.29

PPG Industries, Inc. (NYSE:PPG - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the sixteen research firms that are presently covering the stock, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $149.29.

PPG has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on shares of PPG Industries from $155.00 to $145.00 and set an "overweight" rating on the stock in a report on Friday, October 18th. Mizuho decreased their price objective on PPG Industries from $160.00 to $150.00 and set an "outperform" rating on the stock in a report on Thursday, October 17th. Royal Bank of Canada dropped their target price on PPG Industries from $138.00 to $136.00 and set a "sector perform" rating for the company in a report on Tuesday, October 22nd. StockNews.com downgraded shares of PPG Industries from a "strong-buy" rating to a "buy" rating in a research note on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, December 19th.

PPG Industries Stock Performance

Shares of PPG traded up $0.54 during mid-day trading on Wednesday, reaching $120.14. The company's stock had a trading volume of 2,686,240 shares, compared to its average volume of 1,764,164. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The stock has a market cap of $27.87 billion, a P/E ratio of 19.04, a PEG ratio of 1.77 and a beta of 1.24. PPG Industries has a 1-year low of $113.00 and a 1-year high of $145.86. The business has a 50-day simple moving average of $121.26 and a two-hundred day simple moving average of $124.80.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). The company had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. PPG Industries's revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.07 earnings per share. As a group, equities research analysts anticipate that PPG Industries will post 8.15 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries's payout ratio is 43.11%.

Insider Activity

In other news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the transaction, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PPG Industries

Institutional investors and hedge funds have recently bought and sold shares of the company. Avior Wealth Management LLC increased its position in PPG Industries by 1,527.1% in the 4th quarter. Avior Wealth Management LLC now owns 5,288 shares of the specialty chemicals company's stock valued at $632,000 after acquiring an additional 4,963 shares during the period. Bill Few Associates Inc. increased its holdings in PPG Industries by 2.2% in the fourth quarter. Bill Few Associates Inc. now owns 9,177 shares of the specialty chemicals company's stock valued at $1,096,000 after purchasing an additional 200 shares during the period. Raleigh Capital Management Inc. raised its position in PPG Industries by 2,818.2% during the 4th quarter. Raleigh Capital Management Inc. now owns 642 shares of the specialty chemicals company's stock worth $77,000 after purchasing an additional 620 shares during the last quarter. Mutual Advisors LLC lifted its holdings in PPG Industries by 3.6% during the 4th quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company's stock worth $319,000 after buying an additional 92 shares during the period. Finally, Daymark Wealth Partners LLC grew its position in shares of PPG Industries by 6.4% in the 4th quarter. Daymark Wealth Partners LLC now owns 55,166 shares of the specialty chemicals company's stock valued at $6,590,000 after buying an additional 3,305 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company's stock.

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.