PPG Industries, Inc. (NYSE:PPG) has received a consensus rating of “Hold” from the nineteen ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $120.63.
Several equities analysts have recently issued reports on PPG shares. Citigroup boosted their target price on PPG Industries from $112.00 to $114.00 and gave the stock a “buy” rating in a research report on Monday, October 2nd. Credit Suisse Group set a $119.00 target price on PPG Industries and gave the stock a “buy” rating in a research report on Friday, October 20th. Jefferies Group restated a “buy” rating and set a $120.00 target price on shares of PPG Industries in a research report on Thursday, October 19th. Robert W. Baird restated a “buy” rating and set a $115.00 target price on shares of PPG Industries in a research report on Friday, September 1st. Finally, KeyCorp restated a “buy” rating and set a $125.00 target price on shares of PPG Industries in a research report on Friday, August 25th.
PPG Industries (NYSE PPG) opened at $116.16 on Thursday. The stock has a market capitalization of $29,700.00, a PE ratio of 19.72, a PEG ratio of 2.31 and a beta of 1.60. PPG Industries has a 12-month low of $93.80 and a 12-month high of $119.85. The company has a current ratio of 1.65, a quick ratio of 1.26 and a debt-to-equity ratio of 0.68.
PPG Industries (NYSE:PPG) last posted its earnings results on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.52. The company had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.75 billion. PPG Industries had a return on equity of 27.85% and a net margin of 12.21%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.56 EPS. equities research analysts predict that PPG Industries will post 5.89 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Stockholders of record on Friday, November 10th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend was Thursday, November 9th. PPG Industries’s dividend payout ratio (DPR) is presently 35.86%.
PPG Industries declared that its board has authorized a stock buyback plan on Thursday, December 14th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sullivan Bruyette Speros & Blaney LLC lifted its stake in PPG Industries by 0.4% in the 2nd quarter. Sullivan Bruyette Speros & Blaney LLC now owns 3,165 shares of the specialty chemicals company’s stock valued at $348,000 after acquiring an additional 12 shares in the last quarter. First Interstate Bank lifted its stake in PPG Industries by 3.1% in the 2nd quarter. First Interstate Bank now owns 1,157 shares of the specialty chemicals company’s stock valued at $127,000 after acquiring an additional 35 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its stake in PPG Industries by 1.5% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,663 shares of the specialty chemicals company’s stock valued at $403,000 after acquiring an additional 54 shares in the last quarter. Cypress Capital Management LLC lifted its stake in PPG Industries by 1.0% in the 2nd quarter. Cypress Capital Management LLC now owns 5,556 shares of the specialty chemicals company’s stock valued at $611,000 after acquiring an additional 56 shares in the last quarter. Finally, TCI Wealth Advisors Inc. lifted its stake in PPG Industries by 1.6% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 3,931 shares of the specialty chemicals company’s stock valued at $432,000 after acquiring an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 75.00% of the company’s stock.
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About PPG Industries
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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