PPG Industries, Inc. (NYSE:PPG) Given Consensus Recommendation of "Hold" by Analysts

Shares of PPG Industries, Inc. (NYSE:PPG - Get Free Report) have been assigned a consensus recommendation of "Hold" from the fourteen brokerages that are covering the firm, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $129.42.

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of PPG Industries from $130.00 to $115.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Argus downgraded PPG Industries from a "buy" rating to a "hold" rating in a report on Monday, March 10th. Citigroup lowered their price target on PPG Industries from $135.00 to $113.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Mizuho reduced their price objective on PPG Industries from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Monday, February 3rd. Finally, StockNews.com lowered shares of PPG Industries from a "buy" rating to a "hold" rating in a research note on Monday, February 3rd.

PPG Industries Stock Up 4.9 %

PPG Industries stock traded up $5.10 during midday trading on Friday, hitting $108.91. 4,628,028 shares of the company were exchanged, compared to its average volume of 1,791,901. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. PPG Industries has a fifty-two week low of $90.24 and a fifty-two week high of $137.24. The company's fifty day moving average price is $107.14 and its 200-day moving average price is $116.66. The company has a market cap of $24.72 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 2.19 and a beta of 1.16.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share for the quarter, topping analysts' consensus estimates of $1.62 by $0.10. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.67 billion. PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. The business's quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.87 earnings per share. On average, research analysts predict that PPG Industries will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be given a dividend of $0.68 per share. The ex-dividend date is Monday, May 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.50%. PPG Industries's dividend payout ratio is presently 57.51%.

Insider Activity at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now owns 35,833 shares of the company's stock, valued at approximately $4,240,835.55. This represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.33% of the stock is owned by insiders.

Institutional Investors Weigh In On PPG Industries

Several institutional investors have recently bought and sold shares of PPG. Park Square Financial Group LLC bought a new position in shares of PPG Industries during the 4th quarter valued at about $26,000. Legend Financial Advisors Inc. bought a new stake in shares of PPG Industries during the 4th quarter worth $27,000. CVA Family Office LLC grew its holdings in shares of PPG Industries by 70.6% in the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock worth $30,000 after acquiring an additional 113 shares during the last quarter. Prudent Man Investment Management Inc. acquired a new stake in shares of PPG Industries during the fourth quarter worth $36,000. Finally, Albion Financial Group UT purchased a new stake in shares of PPG Industries during the fourth quarter valued at $38,000. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Company Profile

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.