PPG Industries (NYSE:PPG) Stock Rating Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of PPG Industries (NYSE:PPG - Free Report) from an overweight rating to a neutral rating in a research note published on Wednesday morning, Marketbeat Ratings reports. They currently have $115.00 target price on the specialty chemicals company's stock, down from their prior target price of $145.00.

A number of other equities research analysts also recently issued reports on PPG. BMO Capital Markets reiterated an "outperform" rating and issued a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Citigroup cut their price objective on PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a report on Wednesday, December 18th. StockNews.com downgraded PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, February 3rd. KeyCorp downgraded PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 16th. Finally, The Goldman Sachs Group lowered their price target on PPG Industries from $153.00 to $135.00 and set a "buy" rating for the company in a research note on Thursday, February 6th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $138.15.

PPG Industries Stock Down 0.1 %

Shares of PPG stock traded down $0.17 on Wednesday, reaching $117.75. 1,677,204 shares of the company's stock traded hands, compared to its average volume of 2,184,312. The company has a market capitalization of $27.32 billion, a P/E ratio of 24.89, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23. PPG Industries has a 12-month low of $110.20 and a 12-month high of $145.60. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The business's 50 day moving average price is $119.02 and its two-hundred day moving average price is $123.47.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results 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%. On average, equities analysts forecast that PPG Industries will post 7.96 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries's dividend payout ratio is currently 57.51%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of PPG Industries by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock valued at $3,508,210,000 after purchasing an additional 756,937 shares during the last quarter. State Street Corp boosted its stake in PPG Industries by 4.4% during the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company's stock valued at $1,552,100,000 after purchasing an additional 491,774 shares during the period. Wellington Management Group LLP grew its holdings in PPG Industries by 17.7% in the 4th quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company's stock valued at $1,262,234,000 after buying an additional 1,590,041 shares during the last quarter. Geode Capital Management LLC increased its position in PPG Industries by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 5,546,472 shares of the specialty chemicals company's stock worth $660,752,000 after buying an additional 93,455 shares during the period. Finally, Invesco Ltd. increased its position in PPG Industries by 6.1% in the 4th quarter. Invesco Ltd. now owns 4,726,630 shares of the specialty chemicals company's stock worth $564,596,000 after buying an additional 271,699 shares during the period. Institutional investors 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.