PPG Industries, Inc. (NYSE:PPG) Given Consensus Recommendation of “Hold” by Analysts

PPG Industries, Inc. (NYSE:PPG – Get Rating) has received a consensus rating of “Hold” from the twenty-three brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $135.67.

Several research firms recently commented on PPG. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of PPG Industries from $128.00 to $145.00 in a research report on Monday, January 23rd. Vertical Research cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 23rd. Citigroup lowered their target price on PPG Industries from $139.00 to $138.00 in a report on Sunday, January 22nd. BNP Paribas cut PPG Industries from an “outperform” rating to a “neutral” rating and set a $130.00 price target for the company. in a report on Monday, January 23rd. Finally, StockNews.com initiated coverage on PPG Industries in a research note on Thursday. They set a “buy” rating on the stock.

Insider Buying and Selling

In other PPG Industries news, Chairman Michael H. Mcgarry sold 61,867 shares of PPG Industries stock in a transaction that occurred on Tuesday, January 31st. The shares were sold at an average price of $129.96, for a total transaction of $8,040,235.32. Following the transaction, the chairman now directly owns 183,645 shares of the company’s stock, valued at $23,866,504.20. The sale was disclosed in a filing with the SEC, which is available at this link. In other PPG Industries news, Chairman Michael H. Mcgarry sold 61,867 shares of the business’s stock in a transaction dated Tuesday, January 31st. The stock was sold at an average price of $129.96, for a total transaction of $8,040,235.32. Following the transaction, the chairman now owns 183,645 shares in the company, valued at $23,866,504.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Anne M. Foulkes sold 21,757 shares of the company’s stock in a transaction dated Tuesday, January 24th. The stock was sold at an average price of $128.33, for a total value of $2,792,075.81. Following the completion of the sale, the vice president now directly owns 10,577 shares of the company’s stock, valued at approximately $1,357,346.41. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On PPG Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Girard Partners LTD. lifted its stake in shares of PPG Industries by 1.3% in the fourth quarter. Girard Partners LTD. now owns 6,265 shares of the specialty chemicals company’s stock worth $788,000 after acquiring an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of PPG Industries by 0.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 12,009 shares of the specialty chemicals company’s stock valued at $1,510,000 after purchasing an additional 79 shares in the last quarter. Inspire Investing LLC boosted its stake in shares of PPG Industries by 2.8% during the 4th quarter. Inspire Investing LLC now owns 3,023 shares of the specialty chemicals company’s stock valued at $380,000 after buying an additional 81 shares during the last quarter. Kentucky Retirement Systems increased its stake in shares of PPG Industries by 0.4% in the fourth quarter. Kentucky Retirement Systems now owns 18,476 shares of the specialty chemicals company’s stock worth $2,323,000 after buying an additional 81 shares during the last quarter. Finally, Kesler Norman & Wride LLC raised its holdings in PPG Industries by 1.0% in the third quarter. Kesler Norman & Wride LLC now owns 8,448 shares of the specialty chemicals company’s stock valued at $935,000 after acquiring an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 80.04% of the company’s stock.

PPG Industries Trading Down 3.2 %

Shares of PPG Industries stock opened at $122.49 on Friday. The company has a 50-day moving average of $129.68 and a two-hundred day moving average of $124.80. PPG Industries has a 12-month low of $107.06 and a 12-month high of $138.10. The company has a current ratio of 1.52, a quick ratio of 1.04 and a debt-to-equity ratio of 0.97. The stock has a market cap of $28.83 billion, a PE ratio of 28.29, a price-to-earnings-growth ratio of 2.72 and a beta of 1.17.

PPG Industries (NYSE:PPG – Get Rating) last released its quarterly earnings results on Friday, January 20th. The specialty chemicals company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.08. The business had revenue of $4.19 billion for the quarter, compared to analysts’ expectations of $4.12 billion. PPG Industries had a return on equity of 22.55% and a net margin of 5.81%. The company’s revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.26 EPS. On average, research analysts anticipate that PPG Industries will post 6.52 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Friday, February 17th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Thursday, February 16th. PPG Industries’s dividend payout ratio is currently 57.27%.

About PPG Industries

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PPG Industries, Inc engages in the manufacture and distribution of paints, coatings, and specialty materials. It operates through the Performance Coatings and Industrial Coatings segments. The Performance Coatings segment supplies a variety of protective and decorative coatings, sealants, and finishes along with pavement marking products, paint strippers, stains, and related chemicals, as well as transparencies and transparent armor.