PPG Industries, Inc. (NYSE:PPG) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of PPG Industries, Inc. (NYSE:PPG - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the fifteen brokerages that are covering the company, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $129.83.

Several research analysts recently weighed in on PPG shares. Wells Fargo & Company lifted their price target on PPG Industries from $115.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Royal Bank of Canada upped their target price on shares of PPG Industries from $112.00 to $113.00 and gave the company a "sector perform" rating in a research report on Friday, May 2nd. Seaport Res Ptn cut shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Finally, Citigroup boosted their price target on shares of PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday.

PPG Industries Trading Down 5.2%

Shares of NYSE:PPG opened at $106.25 on Friday. PPG Industries has a 52-week low of $90.24 and a 52-week high of $137.24. The stock has a market cap of $24.12 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 2.19 and a beta of 1.17. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The business has a 50-day moving average price of $107.69 and a 200-day moving average price of $113.50.

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

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were paid a $0.68 dividend. The ex-dividend date was Monday, May 12th. This represents a $2.72 annualized dividend and a yield of 2.56%. PPG Industries's dividend payout ratio is currently 58.24%.

Hedge Funds Weigh In On PPG Industries

Several hedge funds have recently added to or reduced their stakes in PPG. First Hawaiian Bank boosted its holdings in shares of PPG Industries by 12.0% in the first quarter. First Hawaiian Bank now owns 11,826 shares of the specialty chemicals company's stock valued at $1,293,000 after acquiring an additional 1,267 shares during the period. Strs Ohio purchased a new position in shares of PPG Industries in the first quarter valued at $8,311,000. Intrua Financial LLC increased its position in shares of PPG Industries by 8.4% in the first quarter. Intrua Financial LLC now owns 5,968 shares of the specialty chemicals company's stock valued at $653,000 after buying an additional 460 shares in the last quarter. Jacobi Capital Management LLC increased its position in shares of PPG Industries by 20.0% in the first quarter. Jacobi Capital Management LLC now owns 11,566 shares of the specialty chemicals company's stock valued at $1,265,000 after buying an additional 1,925 shares in the last quarter. Finally, Integrity Alliance LLC. purchased a new stake in PPG Industries during the 1st quarter worth about $318,000. 81.86% of the stock is currently owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.