PPG Industries (NYSE:PPG) Price Target Lowered to $135.00 at Wells Fargo & Company

PPG Industries (NYSE:PPG) had its target price reduced by Wells Fargo & Company from $150.00 to $135.00 in a report issued on Monday morning,Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

PPG has been the subject of a number of other research reports. KeyCorp lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Citigroup decreased their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. BMO Capital Markets reiterated 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. StockNews.com lowered shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 20th. Finally, Royal Bank of Canada reduced their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $140.92.

PPG Industries Trading Up 1.2 %

Shares of NYSE PPG opened at $112.61 on Monday. PPG Industries has a twelve month low of $110.20 and a twelve month high of $145.60. The firm has a market cap of $26.13 billion, a PE ratio of 23.81, a price-to-earnings-growth ratio of 1.99 and a beta of 1.23. The business has a fifty day simple moving average of $120.59 and a two-hundred day simple moving average of $124.07. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate 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 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

Institutional Trading of PPG Industries

Several large investors have recently made changes to their positions in the business. Park Avenue Securities LLC lifted its stake in shares of PPG Industries by 21.0% in the 3rd quarter. Park Avenue Securities LLC now owns 2,129 shares of the specialty chemicals company’s stock valued at $282,000 after purchasing an additional 369 shares during the period. Handelsbanken Fonder AB increased its holdings in PPG Industries by 12.5% in the third quarter. Handelsbanken Fonder AB now owns 119,012 shares of the specialty chemicals company’s stock valued at $15,764,000 after buying an additional 13,194 shares in the last quarter. Czech National Bank raised its position in shares of PPG Industries by 6.0% in the third quarter. Czech National Bank now owns 47,525 shares of the specialty chemicals company’s stock worth $6,295,000 after acquiring an additional 2,674 shares during the period. GAMMA Investing LLC boosted its stake in shares of PPG Industries by 9.4% during the 3rd quarter. GAMMA Investing LLC now owns 5,623 shares of the specialty chemicals company’s stock worth $745,000 after acquiring an additional 483 shares in the last quarter. Finally, Diversified Trust Co grew its position in shares of PPG Industries by 41.4% during the 3rd quarter. Diversified Trust Co now owns 40,433 shares of the specialty chemicals company’s stock valued at $5,356,000 after acquiring an additional 11,836 shares during the period. 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.