PPG Industries, Inc. (NYSE:PPG) Receives $149.29 Consensus PT from Analysts

Shares of PPG Industries, Inc. (NYSE:PPG) have received an average recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $149.23.

PPG has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Mizuho decreased their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Citigroup dropped their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. KeyCorp lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. cut 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.

Insider Activity at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.56% of the stock is owned by insiders.

Hedge Funds Weigh In On PPG Industries

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Insight Folios Inc raised its stake in shares of PPG Industries by 3.8% during the third quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock valued at $294,000 after purchasing an additional 81 shares during the period. Bradley Foster & Sargent Inc. CT increased its stake in PPG Industries by 1.7% during the 2nd quarter. Bradley Foster & Sargent Inc. CT now owns 5,310 shares of the specialty chemicals company’s stock worth $669,000 after buying an additional 90 shares during the period. Alpha DNA Investment Management LLC lifted its holdings in PPG Industries by 1.1% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company’s stock worth $1,105,000 after buying an additional 92 shares in the last quarter. Mutual Advisors LLC boosted its position in PPG Industries by 3.6% in the 4th quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock valued at $319,000 after buying an additional 92 shares during the last quarter. Finally, Groupama Asset Managment grew its stake in shares of PPG Industries by 1.2% during the third quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company’s stock valued at $1,027,000 after acquiring an additional 93 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Trading Up 2.6 %

Shares of PPG stock opened at $123.41 on Wednesday. PPG Industries has a twelve month low of $113.00 and a twelve month high of $145.60. The company has a market capitalization of $28.63 billion, a price-to-earnings ratio of 19.56, a PEG ratio of 1.89 and a beta of 1.24. The firm has a 50-day moving average price of $121.14 and a 200 day moving average price of $124.77. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Friday, February 21st will be given a dividend of $0.68 per share. The ex-dividend date is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a yield of 2.20%. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

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.