PPG Industries, Inc. (NYSE: PPG) has received an average “Buy” recommendation from the twenty-one research companies currently covering the stock, MarketBeat reports. Six equity research analysts rated the stock with a conservation rating and fifteen issued a buy rating on the company. The one-year average price target among analysts who issued ratings on the stock in the past year is $ 177.97.
A number of research companies recently commented on PPG. Mizuho raised its target price on PPG Industries from $ 180.00 to $ 184.00 and gave the company a “buy” rating in a research note on Friday, October 22. Wells Fargo & Company increased its price target for PPG Industries from $ 180.00 to $ 183.00 and rated the stock “overweight” in a Friday October 22nd research note. Citigroup raised its price target on PPG Industries from $ 161.00 to $ 169.00 and rated the stock “neutral” in a research note on Friday, October 22. Royal Bank of Canada lowered its price target on PPG Industries from $ 183.00 to $ 170.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 8. Finally, JPMorgan Chase & Co. downgraded PPG Industries from an “overweight” rating to a “neutral” rating and set a target price of $ 165.00 for the stock. in a research note on Friday, October 22.
PPG opened at $ 169.32 on Friday. The stock has a market cap of $ 40.20 billion, a price / earnings ratio of 28.46, a P / E / G ratio of 1.19 and a beta of 1.16. The stock’s 50-day moving average price is $ 160.67 and its 200-day moving average price is $ 162.32. PPG Industries has a one-year minimum of $ 132.10 and a one-year maximum of $ 182.97. The company has a debt ratio of 0.95, a rapid ratio of 0.92, and a current ratio of 1.34.
PPG Industries (NYSE: PPG) last released its results on Tuesday, October 19. The specialty chemicals company reported EPS of $ 1.69 for the quarter, beating analyst consensus estimates of $ 1.59 by $ 0.10. The company posted revenue of $ 4.37 billion for the quarter, compared to $ 4.25 billion expected by analysts. PPG Industries achieved a return on equity of 27.62% and a net margin of 8.71%. The company’s quarterly revenue increased 18.6% year-over-year. In the same quarter of the previous year, the company posted earnings per share of $ 1.93. As a group, analysts predict that PPG Industries will post earnings per share of 6.71 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 10. Shareholders of record on Wednesday, November 10 received a dividend of $ 0.59 per share. The ex-dividend date of this dividend was Tuesday, November 9. This represents an annualized dividend of $ 2.36 and a return of 1.39%. PPG Industries’ dividend payout ratio (DPR) is currently 39.66%.
Several institutional investors and hedge funds have recently changed their holdings to PPG. FMR LLC increased its stake in PPG Industries shares by 27.8% during the 1st quarter. FMR LLC now owns 169,739 shares of the specialty chemicals company valued at $ 19,158,000 after purchasing an additional 36,888 shares during the last quarter. Advisors Asset Management Inc. increased its stake in PPG Industries by 26.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 553 shares of the specialty chemicals company valued at $ 94,000 after acquiring 116 additional shares in the last quarter. Ieq Capital LLC acquired a new position in PPG Industries in the 2nd quarter for a value of $ 261,000. Kestra Private Wealth Services LLC increased its stake in PPG Industries by 2.1% in the 2nd quarter. Kestra Private Wealth Services LLC now owns 8,661 shares of the specialty chemicals company valued at $ 1,470,000 after acquiring 174 additional shares in the last quarter. Finally, Huntington National Bank increased its stake in PPG Industries by 5.5% in the second quarter. Huntington National Bank now owns 39,034 shares of the specialty chemicals company valued at $ 6,626,000 after acquiring 2,031 more shares in the last quarter. Hedge funds and other institutional investors hold 78.46% of the company’s shares.
About PPG Industries
PPG Industries, Inc. is engaged in the manufacture and distribution of coatings, specialty materials and glass products. It operates through the Performance Coatings and Industrial Coatings segments. The performance coatings segment includes the finishing, aerospace, protective and marine, and architectural coatings businesses.
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