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

Shares of PPG Industries, Inc. (NYSE:PPG - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $131.83.

PPG has been the topic of a number of recent research reports. Citigroup increased their price objective on PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, June 13th. Bank of America reiterated a "neutral" rating and issued a $126.00 price objective (down from $143.00) on shares of PPG Industries in a research report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their price objective on PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company raised their price target on PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Finally, Fermium Researc upgraded PPG Industries to a "strong-buy" rating in a research report on Thursday, May 1st.

Institutional Trading of PPG Industries

Several hedge funds have recently added to or reduced their stakes in the business. Cookson Peirce & Co. Inc. raised its stake in shares of PPG Industries by 1.9% in the 1st quarter. Cookson Peirce & Co. Inc. now owns 4,862 shares of the specialty chemicals company's stock valued at $532,000 after purchasing an additional 89 shares during the period. Summit Financial LLC raised its stake in shares of PPG Industries by 1.3% in the 1st quarter. Summit Financial LLC now owns 7,246 shares of the specialty chemicals company's stock valued at $792,000 after purchasing an additional 90 shares during the period. LRI Investments LLC raised its stake in shares of PPG Industries by 25.3% in the 4th quarter. LRI Investments LLC now owns 456 shares of the specialty chemicals company's stock valued at $54,000 after purchasing an additional 92 shares during the period. Conning Inc. raised its stake in shares of PPG Industries by 5.5% in the 1st quarter. Conning Inc. now owns 1,881 shares of the specialty chemicals company's stock valued at $206,000 after purchasing an additional 98 shares during the period. Finally, Beacon Capital Management LLC raised its stake in shares of PPG Industries by 37.1% in the 1st quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company's stock valued at $41,000 after purchasing an additional 101 shares during the period. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Price Performance

NYSE PPG traded up $0.90 during trading hours on Wednesday, reaching $118.31. 1,267,601 shares of the company's stock were exchanged, compared to its average volume of 1,855,724. The stock has a market cap of $26.86 billion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 2.42 and a beta of 1.16. PPG Industries has a one year low of $90.24 and a one year high of $137.24. The firm has a fifty day moving average of $111.98 and a 200-day moving average of $112.19. The company has a current ratio of 1.35, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79.

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

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Monday, May 12th were paid a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a yield of 2.30%. The ex-dividend date was Monday, May 12th. PPG Industries's payout ratio is presently 58.24%.

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.