PPG Industries (NYSE:PPG) Hits New 1-Year Low - Here's What Happened

PPG Industries, Inc. (NYSE:PPG - Get Free Report) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $117.86 and last traded at $118.05, with a volume of 286921 shares. The stock had previously closed at $119.45.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PPG. Citigroup 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 Wednesday, December 18th. Royal Bank of Canada dropped their price objective on shares of PPG Industries from $138.00 to $136.00 and set a "sector perform" rating for the company in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. StockNews.com lowered shares of PPG Industries from a "strong-buy" rating to a "buy" rating in a research report on Friday, December 20th. Finally, KeyCorp cut shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 16th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $149.29.

PPG Industries Price Performance

The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The company has a fifty day moving average price of $123.33 and a 200 day moving average price of $125.61. The company has a market capitalization of $26.78 billion, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings results 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). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the prior year, the company posted $2.07 EPS. The firm's revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts forecast that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Tuesday, November 12th. PPG Industries's dividend payout ratio is currently 43.11%.

Insider Buying and Selling

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the business's stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now directly owns 13,454 shares of the company's stock, valued at $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PPG Industries

Large investors have recently bought and sold shares of the business. Insight Folios Inc boosted its stake in shares of PPG Industries by 3.8% during the 3rd quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company's stock worth $294,000 after acquiring an additional 81 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in PPG Industries by 0.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company's stock worth $2,549,000 after purchasing an additional 82 shares during the period. Bradley Foster & Sargent Inc. CT grew its holdings in PPG Industries by 1.7% during the second quarter. Bradley Foster & Sargent Inc. CT now owns 5,310 shares of the specialty chemicals company's stock valued at $669,000 after purchasing an additional 90 shares during the last quarter. Alpha DNA Investment Management LLC grew its holdings in PPG Industries by 1.1% during the third quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company's stock valued at $1,105,000 after purchasing an additional 92 shares during the last quarter. Finally, Groupama Asset Managment raised its position in shares of PPG Industries by 1.2% in the third quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company's stock valued at $1,027,000 after purchasing an additional 93 shares during the period. 81.86% of the stock is currently owned by institutional investors.

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.