PPG Industries (NYSE:PPG) Sets New 1-Year High at $130.81

PPG Industries, Inc. (NYSE:PPG)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $130.81 and last traded at $130.65, with a volume of 213396 shares traded. The stock had previously closed at $129.20.

Several brokerages recently issued reports on PPG. Citigroup decreased their price target on shares of PPG Industries from $136.00 to $133.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Credit Suisse Group set a $115.00 price target on shares of PPG Industries and gave the stock a “hold” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. upgraded shares of PPG Industries from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $108.00 to $120.00 in a research note on Friday, October 18th. ValuEngine lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, SunTrust Banks reiterated a “hold” rating and issued a $123.00 price target on shares of PPG Industries in a research note on Friday, July 19th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. PPG Industries has an average rating of “Hold” and a consensus price target of $128.44.

The company’s 50-day moving average is $121.85 and its 200 day moving average is $116.10. The company has a market capitalization of $30.48 billion, a PE ratio of 22.01, a P/E/G ratio of 2.21 and a beta of 1.24. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.08 and a current ratio of 1.49.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, October 17th. The specialty chemicals company reported $1.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.06. PPG Industries had a net margin of 8.00% and a return on equity of 28.36%. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same period in the prior year, the firm posted $1.45 EPS. PPG Industries’s revenue for the quarter was up .2% on a year-over-year basis. On average, analysts forecast that PPG Industries, Inc. will post 6.25 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Friday, November 8th. PPG Industries’s dividend payout ratio (DPR) is 34.46%.

In related news, CEO Michael H. Mcgarry sold 12,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $120.00, for a total transaction of $1,440,000.00. Following the sale, the chief executive officer now directly owns 131,434 shares of the company’s stock, valued at approximately $15,772,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael H. Mcgarry sold 11,916 shares of the stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $125.00, for a total transaction of $1,489,500.00. Following the sale, the chief executive officer now directly owns 131,350 shares in the company, valued at $16,418,750. The disclosure for this sale can be found here. Insiders have sold a total of 54,366 shares of company stock worth $6,888,000 over the last three months. 0.37% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in PPG. FMR LLC boosted its holdings in PPG Industries by 27.8% during the first quarter. FMR LLC now owns 169,739 shares of the specialty chemicals company’s stock valued at $19,158,000 after purchasing an additional 36,888 shares in the last quarter. WINTON GROUP Ltd acquired a new stake in PPG Industries during the second quarter valued at approximately $2,450,000. Retirement Systems of Alabama boosted its holdings in PPG Industries by 155.0% during the second quarter. Retirement Systems of Alabama now owns 280,106 shares of the specialty chemicals company’s stock valued at $32,691,000 after purchasing an additional 170,261 shares in the last quarter. First National Bank of Omaha acquired a new stake in PPG Industries during the second quarter valued at approximately $201,000. Finally, PFS Investments Inc. acquired a new stake in PPG Industries during the second quarter valued at approximately $532,000. 77.20% of the stock is currently owned by institutional investors.

PPG Industries Company Profile (NYSE:PPG)

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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