UBS Group Cuts PPG Industries (NYSE:PPG) Price Target to $150.00

PPG Industries (NYSE:PPG - Free Report) had its price target decreased by UBS Group from $156.00 to $150.00 in a research report report published on Friday, Benzinga reports. UBS Group currently has a neutral rating on the specialty chemicals company's stock.

A number of other equities research analysts have also issued reports on the stock. Citigroup cut their price objective on shares of PPG Industries from $170.00 to $161.00 and set a buy rating for the company in a report on Wednesday, April 10th. Wells Fargo & Company raised shares of PPG Industries from an equal weight rating to an overweight rating and raised their target price for the company from $150.00 to $163.00 in a report on Thursday, April 11th. KeyCorp cut their target price on shares of PPG Industries from $167.00 to $164.00 and set an overweight rating for the company in a report on Tuesday, April 9th. Wolfe Research started coverage on shares of PPG Industries in a report on Friday, March 1st. They issued a peer perform rating for the company. Finally, Royal Bank of Canada cut their target price on shares of PPG Industries from $158.00 to $156.00 and set a sector perform rating for the company in a report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $158.00.

PPG Industries Stock Performance

NYSE PPG traded down $4.20 on Friday, reaching $130.92. 4,643,208 shares of the stock were exchanged, compared to its average volume of 1,771,701. PPG Industries has a one year low of $120.32 and a one year high of $152.89. The firm has a market capitalization of $30.81 billion, a PE ratio of 24.52, a PEG ratio of 1.61 and a beta of 1.28. The company's 50-day simple moving average is $140.36 and its two-hundred day simple moving average is $138.88. The company has a current ratio of 1.47, a quick ratio of 1.05 and a debt-to-equity ratio of 0.72.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data on Thursday, April 18th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.86. PPG Industries had a net margin of 6.96% and a return on equity of 23.51%. The business had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same period last year, the firm posted $1.82 EPS. The company's revenue was down 1.6% on a year-over-year basis. Analysts expect that PPG Industries will post 8.46 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 10th will be given a $0.65 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $2.60 dividend on an annualized basis and a yield of 1.99%. PPG Industries's dividend payout ratio is presently 48.69%.

Insider Transactions at PPG Industries

In other news, CFO Vincent J. Morales sold 3,400 shares of PPG Industries stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the completion of the sale, the chief financial officer now directly owns 28,439 shares in the company, valued at $4,008,192.66. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.55% of the company's stock.

Institutional Trading of PPG Industries

Several institutional investors and hedge funds have recently made changes to their positions in PPG. Moneta Group Investment Advisors LLC lifted its position in shares of PPG Industries by 163,082.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,157,889 shares of the specialty chemicals company's stock worth $522,813,000 after purchasing an additional 4,155,341 shares during the last quarter. Norges Bank bought a new stake in shares of PPG Industries in the fourth quarter valued at about $554,685,000. Vanguard Group Inc. raised its holdings in shares of PPG Industries by 17.2% in the fourth quarter. Vanguard Group Inc. now owns 24,480,664 shares of the specialty chemicals company's stock valued at $3,661,083,000 after acquiring an additional 3,600,558 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of PPG Industries by 602,706.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,640,291 shares of the specialty chemicals company's stock valued at $331,994,000 after acquiring an additional 2,639,853 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of PPG Industries by 280.6% in the first quarter. First Trust Advisors LP now owns 1,734,894 shares of the specialty chemicals company's stock valued at $227,393,000 after acquiring an additional 1,279,104 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

About PPG Industries

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.