PPG Industries, Inc. (NYSE:PPG) Receives $130.67 Average PT from Brokerages

Shares of PPG Industries, Inc. (NYSE:PPG - Get Free Report) have received an average recommendation of "Moderate Buy" from the fifteen analysts that are presently covering the stock, Marketbeat.com reports. Eight 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 target price among brokerages that have covered the stock in the last year is $131.83.

PPG has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted their target price on PPG Industries from $112.00 to $113.00 and gave the stock a "sector perform" rating in a report on Friday, May 2nd. Fermium Researc upgraded PPG Industries to a "strong-buy" rating in a report on Thursday, May 1st. JPMorgan Chase & Co. lowered their target price on PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Bank of America reiterated a "neutral" rating and issued a $126.00 target price (down from $143.00) on shares of PPG Industries in a report on Tuesday, April 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, May 12th.

PPG Industries Trading Down 1.5%

Shares of PPG traded down $1.73 during mid-day trading on Wednesday, reaching $117.34. 770,595 shares of the company were exchanged, compared to its average volume of 1,861,812. PPG Industries has a 52 week low of $90.24 and a 52 week high of $137.24. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.99 and a current ratio of 1.35. The stock has a market capitalization of $26.64 billion, a PE ratio of 25.13, a PEG ratio of 2.46 and a beta of 1.16. The business has a 50 day simple moving average of $112.51 and a two-hundred day simple moving average of $112.20.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The specialty chemicals company reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.62 by $0.10. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.67 billion. PPG Industries had a return on equity of 24.84% and a net margin of 6.49%. The firm's revenue was down 4.3% compared to the same quarter last year. During the same period last year, the company earned $1.87 earnings per share. On average, analysts predict that PPG Industries will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were given a dividend of $0.68 per share. The ex-dividend date was Monday, May 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.32%. PPG Industries's payout ratio is 58.24%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Clear Creek Financial Management LLC purchased a new position in shares of PPG Industries during the first quarter valued at approximately $240,000. Vanguard Group Inc. boosted its position in shares of PPG Industries by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 29,369,691 shares of the specialty chemicals company's stock valued at $3,508,210,000 after buying an additional 756,937 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of PPG Industries by 4.4% during the first quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company's stock valued at $33,129,000 after buying an additional 12,650 shares during the last quarter. Bell Asset Management Ltd purchased a new position in shares of PPG Industries during the fourth quarter valued at approximately $6,955,000. Finally, Wealthfront Advisers LLC boosted its position in shares of PPG Industries by 256.2% during the fourth quarter. Wealthfront Advisers LLC now owns 23,761 shares of the specialty chemicals company's stock valued at $2,838,000 after buying an additional 17,090 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

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.