PPG Industries (NYSE:PPG) Sets New 1-Year Low Following Analyst Downgrade

PPG Industries, Inc. (NYSE:PPG - Get Free Report) shares hit a new 52-week low during trading on Wednesday after Wells Fargo & Company lowered their price target on the stock from $130.00 to $115.00. Wells Fargo & Company currently has an overweight rating on the stock. PPG Industries traded as low as $90.24 and last traded at $91.37, with a volume of 4942873 shares trading hands. The stock had previously closed at $96.93.

Several other research firms have also recently issued reports on PPG. The Goldman Sachs Group decreased their price target on PPG Industries from $153.00 to $135.00 and set a "buy" rating on the stock in a report on Thursday, February 6th. UBS Group dropped their price target on shares of PPG Industries from $128.00 to $126.00 and set a "neutral" rating for the company in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft lowered their target price on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, December 19th. KeyCorp downgraded PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 16th. Finally, Barclays restated an "equal weight" rating on shares of PPG Industries in a research report on Monday, February 3rd. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, PPG Industries has an average rating of "Hold" and a consensus target price of $134.15.

Insider Buying and Selling

In related news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by company insiders.

Institutional Trading of PPG Industries

A number of institutional investors have recently made changes to their positions in PPG. Mutual Advisors LLC boosted its stake in shares of 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 last quarter. LRI Investments LLC increased its position in shares of PPG Industries by 25.3% during the 4th quarter. LRI Investments LLC now owns 456 shares of the specialty chemicals company's stock worth $54,000 after purchasing an additional 92 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of PPG Industries by 28.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company's stock valued at $51,000 after buying an additional 95 shares during the last quarter. Kingsview Wealth Management LLC grew its stake in shares of PPG Industries by 1.3% in the fourth quarter. Kingsview Wealth Management LLC now owns 8,288 shares of the specialty chemicals company's stock valued at $990,000 after buying an additional 103 shares in the last quarter. Finally, Sachetta LLC increased its holdings in PPG Industries by 18.4% during the fourth quarter. Sachetta LLC now owns 675 shares of the specialty chemicals company's stock worth $81,000 after buying an additional 105 shares during the last quarter. Institutional investors own 81.86% of the company's stock.

PPG Industries Stock Up 2.3 %

The company has a market capitalization of $22.87 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16. The firm's 50 day moving average price is $110.83 and its two-hundred day moving average price is $118.98. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG - Get Free Report) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were issued a $0.68 dividend. The ex-dividend date was Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.70%. PPG Industries's dividend payout ratio is currently 57.51%.

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.