Shares of PPG Industries, Inc. (NYSE:PPG) have been given an average recommendation of “Hold” by the twenty ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $116.40.
Several equities analysts have commented on PPG shares. Citigroup decreased their price objective on shares of PPG Industries from $123.00 to $113.00 and set a “neutral” rating on the stock in a report on Wednesday, July 11th. ValuEngine upgraded shares of PPG Industries from a “sell” rating to a “hold” rating in a report on Thursday, July 19th. Credit Suisse Group reduced their target price on shares of PPG Industries from $122.00 to $119.00 and set an “outperform” rating for the company in a research report on Friday, July 20th. SunTrust Banks reissued a “hold” rating and issued a $110.00 target price on shares of PPG Industries in a research report on Friday, July 20th. Finally, KeyCorp reduced their target price on shares of PPG Industries from $130.00 to $128.00 and set a “$104.41” rating for the company in a research report on Monday, July 23rd.
Several institutional investors have recently made changes to their positions in PPG. WESPAC Advisors SoCal LLC lifted its position in PPG Industries by 5.5% during the third quarter. WESPAC Advisors SoCal LLC now owns 38,550 shares of the specialty chemicals company’s stock worth $4,206,000 after purchasing an additional 2,000 shares during the period. Calamos Advisors LLC lifted its position in PPG Industries by 52.7% during the third quarter. Calamos Advisors LLC now owns 65,498 shares of the specialty chemicals company’s stock worth $7,148,000 after purchasing an additional 22,602 shares during the period. IFM Investors Pty Ltd lifted its position in PPG Industries by 15.6% during the third quarter. IFM Investors Pty Ltd now owns 13,196 shares of the specialty chemicals company’s stock worth $1,440,000 after purchasing an additional 1,778 shares during the period. Cornerstone Wealth Management LLC lifted its position in PPG Industries by 13.9% during the third quarter. Cornerstone Wealth Management LLC now owns 12,278 shares of the specialty chemicals company’s stock worth $109,000 after purchasing an additional 1,497 shares during the period. Finally, Aperio Group LLC lifted its position in PPG Industries by 4.7% during the third quarter. Aperio Group LLC now owns 123,079 shares of the specialty chemicals company’s stock worth $13,432,000 after purchasing an additional 5,563 shares during the period. 77.63% of the stock is owned by institutional investors.
PPG Industries (NYSE:PPG) last released its quarterly earnings data on Thursday, October 18th. The specialty chemicals company reported $1.45 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.45. PPG Industries had a net margin of 8.34% and a return on equity of 32.17%. The firm had revenue of $3.82 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same period in the previous year, the company earned $1.52 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, equities research analysts expect that PPG Industries will post 5.81 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 12th. Stockholders of record on Monday, November 12th will be given a $0.48 dividend. The ex-dividend date is Thursday, November 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.89%. PPG Industries’s payout ratio is presently 32.71%.
About PPG Industries
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.
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