Wells Fargo & Company Lowers PPG Industries (NYSE:PPG) Price Target to $115.00

PPG Industries (NYSE:PPG - Free Report) had its price objective decreased by Wells Fargo & Company from $130.00 to $115.00 in a research report report published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the specialty chemicals company's stock.

PPG has been the topic of a number of other research reports. Seaport Res Ptn cut shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Citigroup cut their target price on PPG Industries from $135.00 to $113.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. The Goldman Sachs Group decreased their target price 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. JPMorgan Chase & Co. lowered PPG Industries from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $145.00 to $115.00 in a research note on Wednesday, February 12th. Finally, UBS Group reduced their price objective on shares of PPG Industries from $128.00 to $126.00 and set a "neutral" rating for the company in a research report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $134.15.

PPG Industries Trading Up 0.8 %

Shares of PPG stock traded up $0.78 on Wednesday, hitting $101.51. The company had a trading volume of 1,460,901 shares, compared to its average volume of 1,797,444. PPG Industries has a twelve month low of $90.24 and a twelve month high of $137.24. 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 firm has a market cap of $23.04 billion, a P/E ratio of 21.46, a P/E/G ratio of 2.19 and a beta of 1.16. The stock's 50-day moving average is $110.83 and its two-hundred day moving average is $118.98.

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 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 research analysts anticipate that PPG Industries will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st were paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.68%. The ex-dividend date was Friday, February 21st. PPG Industries's dividend payout ratio (DPR) is presently 57.51%.

Insider Activity at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the transaction, the chief executive officer now owns 35,833 shares of the company's stock, valued at $4,240,835.55. This trade represents a 11.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by insiders.

Institutional Trading of PPG Industries

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of PPG Industries by 2.6% during the 4th 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. Wellington Management Group LLP increased its holdings in PPG Industries by 17.7% during the fourth quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company's stock worth $1,262,234,000 after buying an additional 1,590,041 shares during the last quarter. Geode Capital Management LLC raised its position in PPG Industries by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 5,546,472 shares of the specialty chemicals company's stock worth $660,752,000 after acquiring an additional 93,455 shares during the period. Invesco Ltd. boosted its stake in PPG Industries by 6.1% in the fourth quarter. Invesco Ltd. now owns 4,726,630 shares of the specialty chemicals company's stock valued at $564,596,000 after acquiring an additional 271,699 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC grew its position in shares of PPG Industries by 482.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company's stock valued at $518,132,000 after acquiring an additional 3,592,655 shares during the period. 81.86% of the stock is owned by hedge funds and other 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.