PPG Industries, Inc. (PPG) Given Consensus Rating of “Hold” by Analysts
Shares of PPG Industries, Inc. (NYSE:PPG) have been assigned a consensus rating of “Hold” from the twenty brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $116.00.
Several equities analysts have issued reports on PPG shares. KeyCorp lowered their target price on shares of PPG Industries from $130.00 to $128.00 and set a “$104.41” rating on the stock in a research note on Monday, July 23rd. Goldman Sachs Group upgraded shares of PPG Industries from a “neutral” rating to a “buy” rating and set a $126.00 target price on the stock in a research note on Wednesday, July 25th. Northcoast Research set a $114.00 target price on shares of PPG Industries and gave the company a “buy” rating in a research note on Tuesday, October 9th. Deutsche Bank lowered their target price on shares of PPG Industries from $124.00 to $116.00 and set a “buy” rating on the stock in a research note on Tuesday, October 9th. Finally, SunTrust Banks restated a “hold” rating and set a $110.00 target price on shares of PPG Industries in a research note on Friday, July 20th.
Several large investors have recently modified their holdings of PPG. State of Alaska Department of Revenue lifted its stake in shares of PPG Industries by 5.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 41,996 shares of the specialty chemicals company’s stock worth $4,353,000 after purchasing an additional 2,340 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in PPG Industries during the 2nd quarter worth approximately $458,000. Cohen Klingenstein LLC bought a new stake in PPG Industries during the 2nd quarter worth approximately $499,000. Rathbone Brothers plc raised its stake in PPG Industries by 27.5% during the 2nd quarter. Rathbone Brothers plc now owns 91,417 shares of the specialty chemicals company’s stock worth $9,483,000 after acquiring an additional 19,725 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in PPG Industries during the 2nd quarter worth approximately $487,000. Hedge funds and other institutional investors own 78.76% of the company’s stock.
PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, October 18th. The specialty chemicals company reported $1.45 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.45. The business had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.81 billion. PPG Industries had a net margin of 8.34% and a return on equity of 27.83%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.52 EPS. As a group, analysts expect that PPG Industries will post 5.81 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Monday, November 12th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 8th. PPG Industries’s dividend payout ratio (DPR) is presently 32.71%.
About PPG Industries
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.
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