PPG Industries (NYSE:PPG) Sets New 12-Month Low - Time to Sell?

PPG Industries, Inc. (NYSE:PPG - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $107.89 and last traded at $107.23, with a volume of 106068 shares. The stock had previously closed at $111.93.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. cut PPG Industries from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $145.00 to $115.00 in a research note on Wednesday, February 12th. The Goldman Sachs Group reduced their price objective on shares of PPG Industries from $153.00 to $135.00 and set a "buy" rating on the stock in a research note on Thursday, February 6th. Citigroup decreased their price objective on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a report on Wednesday, December 18th. Finally, Wells Fargo & Company cut their target price on shares of PPG Industries from $150.00 to $135.00 and set an "overweight" rating on the stock in a 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $138.15.

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PPG Industries Stock Performance

The stock has a fifty day simple moving average of $115.37 and a 200-day simple moving average of $121.17. The stock has a market cap of $24.34 billion, a P/E ratio of 22.64, a PEG ratio of 2.19 and a beta of 1.22. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. On average, equities analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st were paid a $0.68 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.54%. PPG Industries's payout ratio is currently 57.51%.

Insider Transactions at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the company's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total transaction of $568,080.00. Following the sale, the chief executive officer now owns 35,833 shares in the company, 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 legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.33% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. FMR LLC lifted its stake in PPG Industries by 68.3% in the third quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company's stock valued at $115,757,000 after acquiring an additional 354,740 shares during the last quarter. Townsquare Capital LLC lifted its stake in PPG Industries by 12.7% in the 3rd quarter. Townsquare Capital LLC now owns 7,232 shares of the specialty chemicals company's stock valued at $958,000 after purchasing an additional 813 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in PPG Industries by 11.1% during the third quarter. Public Sector Pension Investment Board now owns 10,038 shares of the specialty chemicals company's stock worth $1,330,000 after purchasing an additional 1,000 shares during the period. Morton Community Bank raised its stake in PPG Industries by 0.9% in the third quarter. Morton Community Bank now owns 21,483 shares of the specialty chemicals company's stock valued at $2,846,000 after buying an additional 200 shares during the period. Finally, Point72 Hong Kong Ltd lifted its position in shares of PPG Industries by 83.7% in the third quarter. Point72 Hong Kong Ltd now owns 4,432 shares of the specialty chemicals company's stock valued at $587,000 after buying an additional 2,019 shares during the last quarter. Institutional investors and hedge funds 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.