Atlantic Securities upgraded shares of PPG Industries, Inc. (NYSE:PPG) from a neutral rating to an overweight rating in a research report released on Wednesday. They currently have $125.00 price target on the stock.
PPG has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of PPG Industries from a sell rating to a hold rating in a report on Monday, December 12th. Royal Bank of Canada restated a hold rating and set a $101.00 price target on shares of PPG Industries in a report on Wednesday, January 4th. Susquehanna Bancshares Inc downgraded shares of PPG Industries from a positive rating to a neutral rating and cut their price target for the company from $108.00 to $100.00 in a report on Tuesday, January 17th. Barclays PLC restated a hold rating and set a $110.00 price target on shares of PPG Industries in a report on Sunday, January 22nd. Finally, TheStreet downgraded shares of PPG Industries from a buy rating to a hold rating in a report on Monday, November 21st. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $113.71.
PPG Industries (NYSE:PPG) opened at 105.57 on Wednesday. The stock has a market cap of $27.14 billion, a price-to-earnings ratio of 32.18 and a beta of 1.39. PPG Industries has a one year low of $89.64 and a one year high of $117.00. The stock’s 50 day moving average price is $101.99 and its 200 day moving average price is $98.70.
PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, January 19th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. The business had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.55 billion. PPG Industries had a net margin of 5.84% and a return on equity of 29.94%. PPG Industries’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 EPS. Equities analysts predict that PPG Industries will post $6.23 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 17th were paid a $0.40 dividend. The ex-dividend date was Wednesday, February 15th. This represents a $1.60 dividend on an annualized basis and a yield of 1.52%. PPG Industries’s payout ratio is presently 48.93%.
A number of hedge funds and other institutional investors have recently bought and sold shares of PPG. Morgan Stanley raised its position in PPG Industries by 42.5% in the third quarter. Morgan Stanley now owns 1,304,855 shares of the company’s stock worth $134,870,000 after buying an additional 389,342 shares during the last quarter. James Investment Research Inc. raised its position in PPG Industries by 2.2% in the third quarter. James Investment Research Inc. now owns 119,448 shares of the company’s stock worth $12,346,000 after buying an additional 2,585 shares during the last quarter. Dimensional Fund Advisors LP raised its position in PPG Industries by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 586,729 shares of the company’s stock worth $55,602,000 after buying an additional 8,060 shares during the last quarter. BlackRock Fund Advisors raised its position in PPG Industries by 3.7% in the third quarter. BlackRock Fund Advisors now owns 3,442,121 shares of the company’s stock worth $355,778,000 after buying an additional 123,496 shares during the last quarter. Finally, Cliftonlarsonallen Wealth Advisors LLC purchased a new position in PPG Industries during the third quarter worth about $1,480,000. Institutional investors and hedge funds own 71.49% of the company’s stock.
About PPG Industries
PPG Industries, Inc (PPG) manufactures and distributes a range of coatings, specialty materials and glass products. PPG operates through three business segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, architectural-Americas and Asia Pacific, and architectural-EMEA coatings businesses.
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