PPG Industries, Inc. (PPG) Upgraded at Atlantic Securities
Atlantic Securities upgraded shares of PPG Industries, Inc. (NYSE:PPG) from a neutral rating to an overweight rating in a report published on Wednesday. They currently have $125.00 target price on the stock.
A number of other equities analysts also recently issued reports on PPG. Royal Bank of Canada reiterated a sectorperform rating and issued a $105.00 price target (up previously from $101.00) on shares of PPG Industries in a report on Tuesday, December 13th. Citigroup Inc downgraded shares of PPG Industries from a buy rating to a neutral rating in a report on Monday, January 9th. Zacks Investment Research upgraded shares of PPG Industries from a sell rating to a hold rating in a report on Monday, December 12th. Bank of America Corp assumed coverage on shares of PPG Industries in a report on Monday, December 5th. They issued a buy rating for the company. Finally, TheStreet downgraded shares of PPG Industries from a buy rating to a hold rating in a report on Monday, November 21st. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of Hold and a consensus price target of $113.71.
PPG Industries (NYSE:PPG) opened at 103.75 on Wednesday. PPG Industries has a 52-week low of $89.64 and a 52-week high of $117.00. The firm has a market capitalization of $26.67 billion, a price-to-earnings ratio of 31.62 and a beta of 1.39. The company’s 50-day moving average is $101.99 and its 200-day moving average is $98.70.
PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Thursday, January 19th. The company reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.01. The business earned $3.50 billion during the quarter, compared to the consensus estimate of $3.55 billion. PPG Industries had a net margin of 5.84% and a return on equity of 29.94%. The business’s revenue was down 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.16 EPS. Equities analysts predict that PPG Industries will post $6.23 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 17th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, February 15th. This represents a $1.60 dividend on an annualized basis and a yield of 1.53%. PPG Industries’s payout ratio is 48.93%.
A number of large investors have recently modified their holdings of PPG. Cornerstone Advisors Inc. boosted its stake in shares of PPG Industries by 1,076.4% in the third quarter. Cornerstone Advisors Inc. now owns 1,047 shares of the company’s stock worth $108,000 after buying an additional 958 shares during the last quarter. Penserra Capital Management LLC boosted its stake in shares of PPG Industries by 95.6% in the third quarter. Penserra Capital Management LLC now owns 1,375 shares of the company’s stock worth $141,000 after buying an additional 672 shares during the last quarter. First Command Bank acquired a new stake in shares of PPG Industries during the fourth quarter worth approximately $137,000. Massmutual Trust Co. FSB ADV acquired a new stake in shares of PPG Industries during the fourth quarter worth approximately $137,000. Finally, SRB Corp boosted its stake in shares of PPG Industries by 11.0% in the third quarter. SRB Corp now owns 1,471 shares of the company’s stock worth $152,000 after buying an additional 146 shares during the last quarter. 71.49% of the stock is currently owned by hedge funds and other institutional investors.
PPG Industries Company Profile
PPG Industries, Inc (PPG) manufactures and distributes a range of coatings, specialty materials and glass products. PPG operates through three business segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, architectural-Americas and Asia Pacific, and architectural-EMEA coatings businesses.
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