PPG Industries (NYSE:PPG) Hits New 12-Month Low - Should You Sell?

PPG Industries, Inc. (NYSE:PPG - Get Free Report)'s share price reached a new 52-week low on Friday . The stock traded as low as $113.49 and last traded at $113.49, with a volume of 491356 shares. The stock had previously closed at $115.69.

Wall Street Analyst Weigh In

PPG has been the subject of several recent analyst reports. Royal Bank of Canada cut their target price 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. Citigroup cut their price objective 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 lowered PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, December 16th. BMO Capital Markets reaffirmed an "outperform" rating and set a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of PPG Industries from $155.00 to $145.00 and set an "overweight" rating on the stock in a report on Friday, October 18th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $149.29.

PPG Industries Trading Down 2.1 %

The company has a market capitalization of $26.29 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 1.90 and a beta of 1.24. 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 business's 50-day moving average price is $122.03 and its two-hundred day moving average price is $125.05.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts' consensus estimates of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. During the same quarter in the previous year, the company posted $2.07 earnings per share. The business's revenue was down 1.5% compared to the same quarter last year. Research analysts predict that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th were given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend was Tuesday, November 12th. PPG Industries's payout ratio is presently 43.11%.

Insider Buying and Selling at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares of the company's stock, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.55% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PPG. Legend Financial Advisors Inc. bought a new stake in PPG Industries in the fourth quarter valued at approximately $27,000. Pin Oak Investment Advisors Inc. boosted its stake in shares of PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company's stock valued at $32,000 after purchasing an additional 200 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of PPG Industries during the third quarter worth $34,000. Hara Capital LLC acquired a new stake in shares of PPG Industries during the third quarter worth $40,000. Finally, Ashton Thomas Securities LLC bought a new position in PPG Industries during the third quarter worth $46,000. Institutional investors own 81.86% of the company's stock.

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.