UBS Group Cuts PPG Industries (NYSE:PPG) Price Target to $110.00

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

Several other equities research analysts have also commented on PPG. Royal Bank of Canada lowered their price objective 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. Wells Fargo & Co upped their price objective on PPG Industries from $140.00 to $155.00 and gave the stock an overweight rating in a research report on Wednesday, January 15th. BMO Capital Markets restated a market perform rating and issued a $136.00 price objective on shares of PPG Industries in a research report on Wednesday, January 22nd. They noted that the move was a valuation call. Robert W. Baird upped their price objective on PPG Industries from $130.00 to $145.00 and gave the stock an outperform rating in a research report on Thursday, December 5th. Finally, Deutsche Bank increased their target price on PPG Industries from $135.00 to $148.00 and gave the company a buy rating in a research report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. PPG Industries presently has a consensus rating of Hold and a consensus target price of $125.00.

PPG Industries stock traded up $4.05 during mid-day 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 has a current ratio of 1.41, a quick ratio of 1.02 and a debt-to-equity ratio of 0.96. PPG Industries has a 12-month low of $69.77 and a 12-month high of $134.36. The company’s fifty day moving average is $104.73 and its 200-day moving average is $120.26. The company has a market capitalization of $19.36 billion, a price-to-earnings ratio of 17.23, a P/E/G ratio of 1.88 and a beta of 1.27.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, January 16th. The specialty chemicals company reported $1.31 EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.67 billion. During the same quarter in the prior year, the company posted $1.15 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. As a group, sell-side analysts expect that PPG Industries will post 6.41 EPS for the current fiscal year.

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

Several large investors have recently made changes to their positions in the company. FMR LLC raised its stake in PPG Industries by 245.6% in the 4th quarter. FMR LLC now owns 1,298,518 shares of the specialty chemicals company’s stock valued at $173,339,000 after purchasing an additional 922,840 shares during the last quarter. Madison Asset Management LLC acquired a new position in PPG Industries in the 4th quarter valued at $95,383,000. First Trust Advisors LP raised its stake in PPG Industries by 624.8% in the 4th quarter. First Trust Advisors LP now owns 556,444 shares of the specialty chemicals company’s stock valued at $74,280,000 after purchasing an additional 479,668 shares during the last quarter. Lord Abbett & CO. LLC raised its stake in PPG Industries by 63.7% in the 4th quarter. Lord Abbett & CO. LLC now owns 940,259 shares of the specialty chemicals company’s stock valued at $125,515,000 after purchasing an additional 365,941 shares during the last quarter. Finally, Norges Bank acquired a new position in PPG Industries in the 4th quarter valued at $45,315,000. Hedge funds and other institutional investors own 77.78% of the company’s stock.

About PPG Industries

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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