PPG Industries (NYSE:PPG) Price Target Lowered to $145.00 at Deutsche Bank Aktiengesellschaft

PPG Industries (NYSE:PPG) had its price target reduced by Deutsche Bank Aktiengesellschaft from $150.00 to $145.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a buy rating on the specialty chemicals company’s stock.

Other equities analysts also recently issued reports about the stock. StockNews.com upgraded shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a research note on Thursday, December 12th. Citigroup reduced their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. lowered their price target on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Royal Bank of Canada decreased their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 22nd. Finally, BMO Capital Markets reissued an “outperform” rating and set a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $149.29.

PPG Industries Stock Down 0.2 %

NYSE:PPG opened at $119.27 on Thursday. The company has a market cap of $27.67 billion, a PE ratio of 18.90, a PEG ratio of 1.90 and a beta of 1.24. The stock has a 50-day simple moving average of $125.15 and a 200 day simple moving average of $126.33. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries has a 52-week low of $118.07 and a 52-week high of $150.82.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The business had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same quarter last year, the business earned $2.07 earnings per share. PPG Industries’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, sell-side analysts expect that PPG Industries will post 8.18 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Tuesday, November 12th. PPG Industries’s payout ratio is 43.11%.

Insiders Place Their Bets

In related news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the sale, the vice president now directly owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Quotient Wealth Partners LLC grew its position in shares of PPG Industries by 80.7% in the second quarter. Quotient Wealth Partners LLC now owns 3,392 shares of the specialty chemicals company’s stock valued at $427,000 after purchasing an additional 1,515 shares in the last quarter. LRI Investments LLC grew its holdings in PPG Industries by 463.8% during the 2nd quarter. LRI Investments LLC now owns 389 shares of the specialty chemicals company’s stock valued at $49,000 after buying an additional 320 shares in the last quarter. Ceredex Value Advisors LLC increased its position in shares of PPG Industries by 25.3% during the second quarter. Ceredex Value Advisors LLC now owns 275,900 shares of the specialty chemicals company’s stock valued at $34,733,000 after buying an additional 55,700 shares during the period. Wedgewood Investors Inc. PA purchased a new stake in shares of PPG Industries in the second quarter worth about $566,000. Finally, State of Michigan Retirement System boosted its position in shares of PPG Industries by 4.3% in the second quarter. State of Michigan Retirement System now owns 67,443 shares of the specialty chemicals company’s stock valued at $8,490,000 after acquiring an additional 2,800 shares during the period. 81.86% of the stock is owned by institutional investors.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.