PPG Industries, Inc. (NYSE:PPG) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• PPG Industries has an average consensus rating of "Moderate Buy" based on reports from fifteen analysts, with target price predictions averaging $129.82.
• PPG's most recent quarterly earnings reported a 2.22 earnings per share, meeting analysts' expectations, but showing a slight revenue decline of 0.9% year-over-year.
• The company recently announced an increase in its quarterly dividend from $0.68 to $0.71, reflecting a commitment to returning value to shareholders.

PPG Industries, Inc. (NYSE:PPG - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the fifteen brokerages that are covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $129.8182.

Several analysts have recently issued reports on PPG shares. Wells Fargo & Company upped their target price on shares of PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Mizuho upped their target price on shares of PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. decreased their target price on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Bank of America restated a "neutral" rating and set a $126.00 target price (down from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. Finally, Royal Bank Of Canada upped their price target on shares of PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a report on Friday.

PPG Industries Price Performance

PPG stock traded up $0.50 during mid-day trading on Friday, hitting $104.94. The company had a trading volume of 2,560,095 shares, compared to its average volume of 2,109,800. The company has a market capitalization of $23.68 billion, a price-to-earnings ratio of 23.80, a P/E/G ratio of 2.15 and a beta of 1.17. PPG Industries has a 12-month low of $90.24 and a 12-month high of $137.24. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76. The company has a 50-day moving average price of $113.06 and a 200 day moving average price of $111.70.

PPG Industries (NYSE:PPG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.22. The firm had revenue of $4.20 billion for the quarter, compared to analysts' expectations of $4.16 billion. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The business's revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.50 EPS. On average, research analysts anticipate that PPG Industries will post 7.95 earnings per share for the current year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, August 11th will be paid a $0.71 dividend. The ex-dividend date is Monday, August 11th. This represents a $2.84 dividend on an annualized basis and a yield of 2.7%. This is an increase from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's payout ratio is currently 64.40%.

Hedge Funds Weigh In On PPG Industries

A number of hedge funds have recently added to or reduced their stakes in PPG. Capital Advisors Ltd. LLC grew its stake in PPG Industries by 127.6% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company's stock worth $25,000 after acquiring an additional 125 shares in the last quarter. Park Square Financial Group LLC bought a new position in shares of PPG Industries during the fourth quarter valued at approximately $26,000. Cheviot Value Management LLC bought a new position in shares of PPG Industries during the first quarter valued at approximately $26,000. CVA Family Office LLC boosted its stake in shares of PPG Industries by 70.6% during the first quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock valued at $30,000 after purchasing an additional 113 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of PPG Industries during the first quarter valued at approximately $30,000. 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.