PPG Industries, Inc. (PPG) Receives $119.36 Average PT from Analysts
PPG Industries, Inc. (NYSE:PPG) has been given a consensus recommendation of “Hold” by the eighteen analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $119.36.
PPG has been the subject of a number of analyst reports. Robert W. Baird reissued a “buy” rating and set a $115.00 target price on shares of PPG Industries in a research note on Friday, September 1st. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $109.00 price target on shares of PPG Industries in a research note on Wednesday, September 13th. Bank of America Corporation set a $120.00 price target on shares of PPG Industries and gave the stock a “hold” rating in a research note on Friday, October 20th. Deutsche Bank AG increased their target price on shares of PPG Industries from $110.00 to $115.00 and gave the company a “hold” rating in a research note on Friday, July 21st. Finally, Zacks Investment Research lowered shares of PPG Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th.
In other news, VP Glenn E. Bost II sold 19,812 shares of the stock in a transaction on Friday, August 11th. The shares were sold at an average price of $100.80, for a total value of $1,997,049.60. Following the completion of the transaction, the vice president now owns 52,748 shares in the company, valued at approximately $5,316,998.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Viktoras R. Sekmakas sold 18,616 shares of the stock in a transaction on Friday, August 18th. The shares were sold at an average price of $102.49, for a total transaction of $1,907,953.84. Following the completion of the transaction, the insider now owns 15,545 shares of the company’s stock, valued at approximately $1,593,207.05. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.
Several institutional investors have recently made changes to their positions in PPG. Harbour Capital Advisors LLC increased its position in shares of PPG Industries by 10,896.0% during the 2nd quarter. Harbour Capital Advisors LLC now owns 10,996 shares of the specialty chemicals company’s stock worth $100,000 after purchasing an additional 10,896 shares in the last quarter. Bruderman Asset Management LLC acquired a new stake in shares of PPG Industries during the 2nd quarter worth about $105,000. V Wealth Management LLC acquired a new stake in shares of PPG Industries during the 2nd quarter worth about $112,000. State of Alaska Department of Revenue acquired a new stake in shares of PPG Industries during the 2nd quarter worth about $113,000. Finally, First Interstate Bank increased its position in shares of PPG Industries by 3.1% during the 2nd quarter. First Interstate Bank now owns 1,157 shares of the specialty chemicals company’s stock worth $127,000 after purchasing an additional 35 shares in the last quarter. Institutional investors and hedge funds own 74.57% of the company’s stock.
Shares of PPG Industries (NYSE:PPG) traded down $0.19 during trading hours on Wednesday, hitting $116.34. 639,598 shares of the company were exchanged, compared to its average volume of 1,450,000. The company has a current ratio of 1.65, a quick ratio of 1.26 and a debt-to-equity ratio of 0.68. PPG Industries has a twelve month low of $90.88 and a twelve month high of $119.85. The company has a market cap of $29,650.00, a P/E ratio of 19.78, a PEG ratio of 2.32 and a beta of 1.60.
PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.52. The business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.75 billion. PPG Industries had a net margin of 12.21% and a return on equity of 27.85%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.56 EPS. analysts expect that PPG Industries will post 5.9 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 10th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Thursday, November 9th. PPG Industries’s dividend payout ratio is 35.86%.
About PPG Industries
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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