PPG Industries (NYSE:PPG) Sets New 1-Year Low - Should You Sell?

Shares of PPG Industries, Inc. (NYSE:PPG - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $109.96 and last traded at $110.39, with a volume of 323943 shares changing hands. The stock had previously closed at $111.72.

Analysts Set New Price Targets

PPG has been the subject of several analyst reports. Citigroup decreased their target price on PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Wednesday, December 18th. KeyCorp downgraded PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, December 16th. Mizuho decreased their target price on PPG Industries from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Monday, February 3rd. UBS Group decreased their target price on PPG Industries from $128.00 to $126.00 and set a "neutral" rating for the company in a research report on Friday, January 31st. Finally, Barclays reaffirmed an "equal weight" rating on shares of PPG Industries in a research report on Monday, February 3rd. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $138.15.

PPG Industries Price Performance

The company has a 50 day simple moving average of $116.82 and a 200-day simple moving average of $122.76. The stock has a market cap of $26.21 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 2.19 and a beta of 1.22. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

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PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) 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%. As a group, research analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries's payout ratio is currently 57.51%.

Insider Buying and Selling at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the company's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the transaction, the chief executive officer now directly owns 35,833 shares of the company's stock, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.55% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PPG Industries

Several institutional investors have recently made changes to their positions in the stock. Park Square Financial Group LLC bought a new position in shares of PPG Industries during the fourth quarter valued at approximately $26,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of PPG Industries during the fourth quarter valued at approximately $25,156,000. Brooklyn FI LLC bought a new position in shares of PPG Industries during the fourth quarter valued at approximately $232,000. Jefferies Financial Group Inc. bought a new position in shares of PPG Industries during the fourth quarter valued at approximately $568,000. Finally, Mackenzie Financial Corp grew its holdings in shares of PPG Industries by 0.7% during the fourth quarter. Mackenzie Financial Corp now owns 238,915 shares of the specialty chemicals company's stock valued at $28,538,000 after purchasing an additional 1,571 shares during the last quarter. 81.86% of the stock is 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.