PPG Industries, Inc. (NYSE:PPG) had its price objective boosted by Citigroup Inc. from $114.00 to $127.00 in a research note published on Wednesday, October 25th. The brokerage currently has a neutral rating on the specialty chemicals company’s stock.
PPG has been the subject of several other reports. Credit Suisse Group set a $119.00 target price on PPG Industries and gave the company a buy rating in a report on Friday, October 20th. Bank of America Corporation downgraded PPG Industries from a buy rating to a neutral rating and set a $115.00 target price for the company. in a report on Monday, July 24th. Zacks Investment Research downgraded PPG Industries from a hold rating to a sell rating in a report on Tuesday, October 17th. Robert W. Baird reissued a buy rating and issued a $115.00 target price on shares of PPG Industries in a report on Friday, September 1st. Finally, Jefferies Group LLC reaffirmed a buy rating and set a $120.00 price objective on shares of PPG Industries in a research note on Thursday, July 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $119.36.
PPG Industries (NYSE:PPG) traded down $0.46 during trading hours on Wednesday, hitting $114.67. The stock had a trading volume of 908,500 shares, compared to its average volume of 1,459,015. PPG Industries has a twelve month low of $93.80 and a twelve month high of $119.85. The company has a current ratio of 1.65, a quick ratio of 1.26 and a debt-to-equity ratio of 0.68. The firm has a market cap of $29,297.81, a PE ratio of 19.55, a P/E/G ratio of 2.29 and a beta of 1.59.
PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.52. PPG Industries had a return on equity of 27.85% and a net margin of 12.21%. The business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.75 billion. During the same period in the previous year, the business earned $1.56 EPS. The business’s quarterly revenue was up 3.2% on a year-over-year basis. research analysts forecast that PPG Industries will post 5.9 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, November 10th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.57%. The ex-dividend date is Thursday, November 9th. PPG Industries’s payout ratio is 26.12%.
In other PPG Industries news, insider Viktoras R. Sekmakas sold 18,616 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $102.49, for a total transaction of $1,907,953.84. Following the transaction, the insider now owns 15,545 shares in the company, valued at approximately $1,593,207.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.72% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Harbour Capital Advisors LLC grew its holdings in shares of PPG Industries by 10,896.0% in the 2nd quarter. Harbour Capital Advisors LLC now owns 10,996 shares of the specialty chemicals company’s stock worth $100,000 after acquiring an additional 10,896 shares during the period. Bruderman Asset Management LLC acquired a new stake in shares of PPG Industries in the 2nd quarter worth approximately $105,000. V Wealth Management LLC acquired a new stake in shares of PPG Industries in the 2nd quarter worth approximately $112,000. State of Alaska Department of Revenue acquired a new stake in shares of PPG Industries in the 2nd quarter worth approximately $113,000. Finally, Global X Management Co. LLC grew its holdings in shares of PPG Industries by 26.7% in the 1st quarter. Global X Management Co. LLC now owns 1,180 shares of the specialty chemicals company’s stock worth $124,000 after acquiring an additional 249 shares during the period. Institutional investors and hedge funds own 74.57% of the company’s stock.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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