PPG Industries (NYSE:PPG) Stock Rating Lowered by Argus

Argus cut shares of PPG Industries (NYSE:PPG - Free Report) from a buy rating to a hold rating in a research report report published on Monday, Marketbeat Ratings reports.

PPG has been the subject of several other research reports. KeyCorp downgraded shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 16th. Seaport Res Ptn downgraded shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Wells Fargo & Company lowered their target price on shares of PPG Industries from $150.00 to $135.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Barclays reaffirmed an "equal weight" rating on shares of PPG Industries in a research note on Monday, February 3rd. Finally, StockNews.com downgraded shares of PPG Industries from a "buy" rating to a "hold" rating in a research report on Monday, February 3rd. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $138.15.

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PPG Industries Price Performance

Shares of PPG stock traded down $2.43 during trading hours on Monday, reaching $111.00. 1,824,279 shares of the company were exchanged, compared to its average volume of 1,628,468. The stock's fifty day moving average is $116.45 and its two-hundred day moving average is $122.50. PPG Industries has a fifty-two week low of $109.15 and a fifty-two week high of $145.61. The company has a market cap of $25.19 billion, a price-to-earnings ratio of 23.47, a P/E/G ratio of 2.19 and a beta of 1.22. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. Sell-side analysts forecast that PPG Industries will post 7.95 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 Wednesday, March 12th. Investors of record on Friday, February 21st will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Friday, February 21st. PPG Industries's dividend payout ratio (DPR) is currently 57.51%.

Insider Activity at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the firm's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now owns 35,833 shares of the company's stock, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.55% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. PUREfi Wealth LLC acquired a new stake in PPG Industries in the fourth quarter valued at $279,000. PFW Advisors LLC acquired a new stake in PPG Industries in the fourth quarter valued at $868,000. Equity Investment Corp lifted its stake in PPG Industries by 7.0% in the third quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company's stock valued at $86,006,000 after acquiring an additional 42,380 shares during the last quarter. JGP Wealth Management LLC acquired a new stake in PPG Industries in the fourth quarter valued at $4,050,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in PPG Industries by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company's stock valued at $340,654,000 after acquiring an additional 15,161 shares during the last quarter. Institutional investors 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.