The Goldman Sachs Group Has Lowered Expectations for PPG Industries (NYSE:PPG) Stock Price

PPG Industries (NYSE:PPG) had its price objective decreased by The Goldman Sachs Group from $153.00 to $135.00 in a research report report published on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the specialty chemicals company’s stock.

Other research analysts have also issued reports about the stock. Royal Bank of Canada decreased their target price on shares of PPG Industries from $128.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Tuesday. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Citigroup lowered 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. StockNews.com downgraded PPG Industries from a “buy” rating to a “hold” rating in a report on Monday. Finally, JPMorgan Chase & Co. dropped their target price 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. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.46.

PPG Industries Trading Up 3.0 %

PPG opened at $115.93 on Thursday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. The company’s 50 day simple moving average is $120.37 and its two-hundred day simple moving average is $123.99. PPG Industries has a 1-year low of $110.20 and a 1-year high of $145.60. The firm has a market capitalization of $26.90 billion, a price-to-earnings ratio of 24.51, a price-to-earnings-growth ratio of 1.99 and a beta of 1.23.

PPG Industries (NYSE:PPG) last released its earnings results 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%. Analysts expect that PPG Industries will post 7.9 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid 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 yield of 2.35%. PPG Industries’s dividend payout ratio is currently 57.51%.

Institutional Investors Weigh In On PPG Industries

A number of large investors have recently modified their holdings of PPG. PFW Advisors LLC purchased a new position in PPG Industries in the fourth quarter valued at $868,000. Equity Investment Corp boosted its position in shares of PPG Industries by 7.0% during the 3rd quarter. Equity Investment Corp now owns 649,301 shares of the specialty chemicals company’s stock worth $86,006,000 after acquiring an additional 42,380 shares in the last quarter. Ritholtz Wealth Management purchased a new position in shares of PPG Industries in the 3rd quarter valued at about $604,000. JGP Wealth Management LLC acquired a new stake in shares of PPG Industries during the 4th quarter worth about $4,050,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in PPG Industries by 0.6% during 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 purchasing an additional 15,161 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other 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.