PPG Industries (NYSE:PPG) PT Lowered to $110.00

PPG Industries (NYSE:PPG) had its price objective reduced by UBS Group from $141.00 to $110.00 in a research note published on Monday morning, Benzinga reports. UBS Group currently has a buy rating on the specialty chemicals company’s stock.

PPG has been the topic of several other research reports. Royal Bank of Canada cut their target price on PPG Industries from $141.00 to $138.00 and set an outperform rating on the stock in a research report on Wednesday, January 22nd. Robert W. Baird raised their target price on PPG Industries from $130.00 to $145.00 and gave the stock an outperform rating in a research report on Thursday, December 5th. BMO Capital Markets reissued a market perform rating and set a $136.00 target price on shares of PPG Industries in a research report on Wednesday, January 22nd. They noted that the move was a valuation call. Wells Fargo & Co raised their target price on PPG Industries from $140.00 to $155.00 and gave the stock an overweight rating in a research report on Wednesday, January 15th. Finally, Deutsche Bank raised their target price on PPG Industries from $135.00 to $148.00 and gave the stock a buy rating in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $125.00.

Shares of PPG traded up $4.05 during midday trading on Monday, hitting $89.76. The company had a trading volume of 1,984,081 shares, compared to its average volume of 2,207,337. The company’s 50-day simple moving average is $104.73 and its 200-day simple moving average is $120.26. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.02 and a current ratio of 1.41. The firm has a market capitalization of $19.36 billion, a P/E ratio of 17.23, a P/E/G ratio of 1.88 and a beta of 1.27. PPG Industries has a 1 year low of $69.77 and a 1 year high of $134.36.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, January 16th. The specialty chemicals company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.03). PPG Industries had a return on equity of 28.25% and a net margin of 8.21%. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same period last year, the business posted $1.15 EPS. PPG Industries’s revenue was up .7% on a year-over-year basis. Equities analysts predict that PPG Industries will post 6.41 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Tuesday, January 21st were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend was Thursday, February 20th. PPG Industries’s dividend payout ratio (DPR) is 32.80%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PPG. FMR LLC increased its position in PPG Industries by 27.8% during the first quarter. FMR LLC now owns 169,739 shares of the specialty chemicals company’s stock worth $19,158,000 after buying an additional 36,888 shares during the period. Colony Group LLC increased its position in PPG Industries by 25.1% during the third quarter. Colony Group LLC now owns 3,981 shares of the specialty chemicals company’s stock worth $472,000 after buying an additional 800 shares during the period. Voya Investment Management LLC increased its position in PPG Industries by 2.3% during the third quarter. Voya Investment Management LLC now owns 92,421 shares of the specialty chemicals company’s stock worth $10,953,000 after buying an additional 2,080 shares during the period. State Street Corp increased its position in PPG Industries by 0.6% during the third quarter. State Street Corp now owns 11,625,446 shares of the specialty chemicals company’s stock worth $1,377,732,000 after buying an additional 69,569 shares during the period. Finally, Stifel Financial Corp increased its position in PPG Industries by 2.7% during the third quarter. Stifel Financial Corp now owns 162,102 shares of the specialty chemicals company’s stock worth $19,174,000 after buying an additional 4,267 shares during the period. 77.78% of the stock is currently owned by institutional investors.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.

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Analyst Recommendations for PPG Industries (NYSE:PPG)

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