PPG Industries (NYSE:PPG) Hits New 12-Month Low on Analyst Downgrade

PPG Industries, Inc. (NYSE:PPG)’s stock price hit a new 52-week low during mid-day trading on Monday after UBS Group lowered their price target on the stock from $128.00 to $126.00. UBS Group currently has a neutral rating on the stock. PPG Industries traded as low as $112.68 and last traded at $111.15, with a volume of 109698 shares changing hands. The stock had previously closed at $115.38.

Other analysts have also recently issued research reports about the company. BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. JPMorgan Chase & Co. reduced their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Royal Bank of Canada reduced their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. Finally, 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, December 18th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and an average target price of $147.00.

Institutional Investors Weigh In On PPG Industries

Several institutional investors have recently modified their holdings of PPG. Handelsbanken Fonder AB increased its holdings in PPG Industries by 1.3% during the 4th quarter. Handelsbanken Fonder AB now owns 120,564 shares of the specialty chemicals company’s stock worth $14,401,000 after purchasing an additional 1,552 shares during the period. Ieq Capital LLC increased its holdings in PPG Industries by 97.2% during the 4th quarter. Ieq Capital LLC now owns 19,738 shares of the specialty chemicals company’s stock worth $2,358,000 after purchasing an additional 9,729 shares during the period. Global Retirement Partners LLC increased its holdings in PPG Industries by 2.5% during the 4th quarter. Global Retirement Partners LLC now owns 5,040 shares of the specialty chemicals company’s stock worth $602,000 after purchasing an additional 124 shares during the period. Atlas Legacy Advisors LLC purchased a new position in PPG Industries during the 4th quarter worth $242,000. Finally, New York State Common Retirement Fund increased its holdings in PPG Industries by 1.1% during the 4th quarter. New York State Common Retirement Fund now owns 180,040 shares of the specialty chemicals company’s stock worth $21,506,000 after purchasing an additional 1,969 shares during the period. 81.86% of the stock is owned by institutional investors.

PPG Industries Price Performance

The firm has a fifty day simple moving average of $121.11 and a 200 day simple moving average of $124.33. The company has a market capitalization of $25.68 billion, a PE ratio of 23.46, a P/E/G ratio of 1.99 and a beta of 1.23. 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 (NYSE:PPG) last posted its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Equities analysts anticipate that PPG Industries, Inc. will post 7.9 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.46%. PPG Industries’s payout ratio is 57.51%.

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.