Credit Suisse Group set a $115.00 price objective on PPG Industries (NYSE:PPG) in a report issued on Wednesday morning. The firm currently has a hold rating on the specialty chemicals company’s stock.

Several other equities research analysts have also commented on PPG. Northcoast Research set a $114.00 price objective on PPG Industries and gave the stock a buy rating in a research report on Tuesday, October 9th. Deutsche Bank reduced their target price on PPG Industries from $124.00 to $116.00 and set a buy rating for the company in a research note on Tuesday, October 9th. Citigroup raised PPG Industries from a neutral rating to a buy rating and set a $123.00 target price for the company in a research note on Thursday, November 29th. Goldman Sachs Group raised PPG Industries from a buy rating to a conviction-buy rating in a research note on Monday, October 29th. Finally, Vertical Research downgraded PPG Industries from a buy rating to a hold rating in a research note on Tuesday, October 9th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $119.00.

Shares of PPG stock opened at $106.73 on Wednesday. PPG Industries has a fifty-two week low of $94.37 and a fifty-two week high of $122.07. The stock has a market cap of $25.60 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 2.21 and a beta of 1.38. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.22 and a current ratio of 1.71.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, October 18th. The specialty chemicals company reported $1.45 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.45. The firm had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.81 billion. PPG Industries had a return on equity of 27.83% and a net margin of 8.34%. PPG Industries’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.52 earnings per share. Sell-side analysts predict that PPG Industries will post 5.81 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Monday, November 12th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend is Thursday, November 8th. PPG Industries’s dividend payout ratio (DPR) is presently 32.71%.

Several institutional investors and hedge funds have recently modified their holdings of PPG. Cornerstone Wealth Management LLC purchased a new position in shares of PPG Industries during the 2nd quarter worth $105,000. Fort L.P. purchased a new position in shares of PPG Industries during the 2nd quarter worth $120,000. Investment Counselors of Maryland LLC purchased a new position in shares of PPG Industries during the 3rd quarter worth $158,000. Qube Research & Technologies Ltd purchased a new position in shares of PPG Industries during the 2nd quarter worth $167,000. Finally, CWM LLC grew its holdings in shares of PPG Industries by 47.6% during the 3rd quarter. CWM LLC now owns 1,672 shares of the specialty chemicals company’s stock worth $182,000 after purchasing an additional 539 shares during the period. 78.51% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for PPG Industries (NYSE:PPG)

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