PPG Industries (NYSE:PPG) Stock Rating Lowered by KeyCorp

PPG Industries (NYSE:PPG) was downgraded by investment analysts at KeyCorp from a “strong-buy” rating to a “hold” rating in a research report issued on Monday,Zacks.com reports.

Several other brokerages have also commented on PPG. StockNews.com upgraded shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. lowered their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Citigroup dropped their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Finally, Mizuho decreased their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $149.29.

PPG Industries Stock Up 0.5 %

Shares of NYSE PPG traded up $0.57 during mid-day trading on Monday, reaching $121.82. The company had a trading volume of 56,942 shares, compared to its average volume of 1,616,553. PPG Industries has a 52-week low of $118.07 and a 52-week high of $150.82. The stock has a market cap of $28.26 billion, a P/E ratio of 19.31, a PEG ratio of 1.90 and a beta of 1.24. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The firm has a 50 day simple moving average of $125.30 and a two-hundred day simple moving average of $126.37.

PPG Industries (NYSE:PPG) last announced its earnings results 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 return on equity of 23.63% and a net margin of 8.24%. The business had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. During the same quarter last year, the business posted $2.07 earnings per share. The business’s revenue was down 1.5% on a year-over-year basis. Sell-side analysts predict that PPG Industries will post 8.18 earnings per share for the current year.

Insider Buying and Selling at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 13,454 shares in the company, valued at $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.56% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PPG. State Street Corp raised its stake in PPG Industries by 4.4% during the third quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock worth $1,552,100,000 after acquiring an additional 491,774 shares during the period. Wellington Management Group LLP lifted its holdings in shares of PPG Industries by 5.7% in the 3rd quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock worth $1,189,095,000 after purchasing an additional 485,597 shares during the last quarter. Franklin Resources Inc. grew its stake in PPG Industries by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company’s stock worth $403,049,000 after buying an additional 170,339 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in PPG Industries by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,571,753 shares of the specialty chemicals company’s stock worth $340,654,000 after buying an additional 15,161 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in PPG Industries by 20.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock valued at $276,576,000 after buying an additional 368,410 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

About PPG Industries

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.