PPG Industries, Inc. (NYSE:PPG) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of PPG Industries, Inc. (NYSE:PPG) have been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $149.23.

PPG has been the topic of a number of recent analyst reports. Mizuho dropped their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research note on Thursday, October 17th. Royal Bank of Canada decreased their target price on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. cut their price objective on shares of 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 PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th.

Insider Buying and Selling

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.56% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. State Street Corp raised its position in PPG Industries by 4.4% in the third quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock valued at $1,552,100,000 after purchasing an additional 491,774 shares during the period. Wellington Management Group LLP raised its holdings in PPG Industries by 5.7% in the third quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock valued at $1,189,095,000 after acquiring an additional 485,597 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of PPG Industries by 20.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock worth $276,576,000 after purchasing an additional 368,410 shares in the last quarter. FMR LLC boosted its holdings in PPG Industries by 68.3% in the third quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company’s stock valued at $115,757,000 after purchasing an additional 354,740 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in PPG Industries by 189.6% in the third quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock valued at $56,538,000 after acquiring an additional 279,455 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Trading Up 0.5 %

Shares of PPG Industries stock opened at $120.14 on Wednesday. The firm has a market capitalization of $27.87 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 1.77 and a beta of 1.24. PPG Industries has a 1 year low of $113.00 and a 1 year high of $145.86. 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 firm’s 50 day moving average is $121.26 and its 200 day moving average is $124.80.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Friday, February 21st will be paid a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a yield of 2.26%. PPG Industries’s dividend payout ratio (DPR) is currently 43.11%.

About PPG Industries

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.