Wells Fargo & Company Issues Pessimistic Forecast for PPG Industries (NYSE:PPG) Stock Price

PPG Industries (NYSE:PPG - Free Report) had its price target lowered by Wells Fargo & Company from $135.00 to $130.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the specialty chemicals company's stock.

Other research analysts have also issued research reports about the company. Royal Bank of Canada dropped their price target on PPG Industries from $128.00 to $120.00 and set a "sector perform" rating for the company in a research report on Tuesday, February 4th. JPMorgan Chase & Co. cut PPG Industries from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $145.00 to $115.00 in a report on Wednesday, February 12th. Citigroup decreased their price target on PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Wednesday, December 18th. KeyCorp lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 16th. Finally, UBS Group reduced their target price on shares of PPG Industries from $128.00 to $126.00 and set a "neutral" rating on the stock in a research note on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $137.77.

PPG Industries Price Performance

Shares of PPG traded down $2.99 during mid-day trading on Thursday, hitting $93.94. 1,282,369 shares of the stock were exchanged, compared to its average volume of 1,764,590. 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 company has a market cap of $21.32 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16. PPG Industries has a 52-week low of $91.25 and a 52-week high of $142.30. The firm has a 50-day moving average of $113.20 and a two-hundred day moving average of $120.21.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 predict that PPG Industries will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.90%. PPG Industries's payout ratio is currently 57.51%.

Insider Buying and Selling at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the sale, the chief executive officer now directly owns 35,833 shares in the company, valued at $4,240,835.55. The trade was a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Park Square Financial Group LLC bought a new position in shares of PPG Industries during the fourth quarter valued at approximately $26,000. Legend Financial Advisors Inc. bought a new position in shares of PPG Industries in the 4th quarter worth $27,000. Prudent Man Investment Management Inc. purchased a new stake in shares of PPG Industries during the 4th quarter worth $36,000. Albion Financial Group UT purchased a new stake in shares of PPG Industries during the 4th quarter worth $38,000. Finally, Crews Bank & Trust bought a new stake in PPG Industries during the fourth quarter valued at about $42,000. Hedge funds and other 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.