StockNews.com Downgrades PPG Industries (NYSE:PPG) to Hold

StockNews.com lowered shares of PPG Industries (NYSE:PPGGet Rating) from a buy rating to a hold rating in a research report report published on Monday.

Other equities analysts also recently issued research reports about the company. UBS Group cut their price target on PPG Industries to $160.00 in a research note on Friday, July 22nd. Vertical Research upgraded PPG Industries from a hold rating to a buy rating and set a $139.00 price target for the company in a research note on Monday, June 27th. TheStreet upgraded PPG Industries from a c+ rating to a b rating in a research note on Monday, September 12th. Credit Suisse Group cut their price target on PPG Industries to $110.00 in a research note on Friday, July 22nd. Finally, Redburn Partners raised shares of PPG Industries from a neutral rating to a buy rating in a research report on Tuesday, September 6th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $155.41.

PPG Industries Stock Performance

Shares of PPG opened at $111.92 on Monday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.50 and a quick ratio of 1.02. The stock has a 50-day moving average of $126.18 and a 200-day moving average of $125.13. The company has a market cap of $26.30 billion, a PE ratio of 24.54, a P/E/G ratio of 2.40 and a beta of 1.16. PPG Industries has a one year low of $107.06 and a one year high of $177.32.

PPG Industries (NYSE:PPGGet Rating) last issued its earnings results on Thursday, July 21st. The specialty chemicals company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.75 by $0.06. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.75 billion. PPG Industries had a return on equity of 22.97% and a net margin of 6.20%. On average, equities research analysts predict that PPG Industries will post 6.73 EPS for the current fiscal year.

PPG Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Wednesday, August 10th were given a dividend of $0.62 per share. This is a positive change from PPG Industries’s previous quarterly dividend of $0.59. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Tuesday, August 9th. PPG Industries’s payout ratio is 54.39%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Rockbridge Investment Management LCC grew its position in shares of PPG Industries by 83.0% during the 4th quarter. Rockbridge Investment Management LCC now owns 183 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 83 shares in the last quarter. Vectors Research Management LLC purchased a new position in shares of PPG Industries during the 4th quarter valued at $34,000. Janiczek Wealth Management LLC purchased a new position in shares of PPG Industries during the 2nd quarter valued at $29,000. Allworth Financial LP grew its position in PPG Industries by 157.4% in the first quarter. Allworth Financial LP now owns 242 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 148 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in PPG Industries by 45.8% in the first quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 87 shares in the last quarter. 80.39% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Company Profile

(Get Rating)

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

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Analyst Recommendations for PPG Industries (NYSE:PPG)

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