PPG Industries (NYSE:PPG) Sets New 12-Month Low – Should You Sell?

PPG Industries, Inc. (NYSE:PPG)’s stock price hit a new 52-week low on Friday . The company traded as low as $113.49 and last traded at $113.49, with a volume of 491356 shares traded. The stock had previously closed at $115.69.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PPG. BMO Capital Markets reissued an “outperform” rating and set a $155.00 price target (down from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. JPMorgan Chase & Co. reduced their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. StockNews.com cut shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 20th. Mizuho cut their target price on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Finally, KeyCorp downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, PPG Industries currently has an average rating of “Moderate Buy” and an average price target of $149.29.

PPG Industries Stock Down 2.1 %

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 business’s 50-day simple moving average is $122.03 and its 200-day simple moving average is $125.05. The company has a market capitalization of $26.29 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The company had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. During the same period last year, the firm earned $2.07 EPS. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, equities research analysts anticipate that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were paid a $0.68 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.40%. PPG Industries’s dividend payout ratio is presently 43.11%.

Insider Buying and Selling at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total value of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PPG Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. Private Advisor Group LLC raised its stake in PPG Industries by 8.4% in the 2nd quarter. Private Advisor Group LLC now owns 11,342 shares of the specialty chemicals company’s stock valued at $1,428,000 after purchasing an additional 879 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of PPG Industries by 2,153.3% during the second quarter. Acadian Asset Management LLC now owns 6,512 shares of the specialty chemicals company’s stock worth $818,000 after buying an additional 6,223 shares in the last quarter. PFG Investments LLC raised its position in shares of PPG Industries by 9.6% in the second quarter. PFG Investments LLC now owns 2,148 shares of the specialty chemicals company’s stock valued at $270,000 after buying an additional 189 shares during the last quarter. Choreo LLC purchased a new position in shares of PPG Industries in the second quarter worth about $616,000. Finally, American Century Companies Inc. boosted its position in PPG Industries by 176.4% during the second quarter. American Century Companies Inc. now owns 226,215 shares of the specialty chemicals company’s stock worth $28,478,000 after acquiring an additional 144,357 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

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.