PPG Industries (NYSE:PPG) Given New $145.00 Price Target at Deutsche Bank Aktiengesellschaft

PPG Industries (NYSE:PPG) had its price target reduced by Deutsche Bank Aktiengesellschaft from $150.00 to $145.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a buy rating on the specialty chemicals company’s stock.

PPG has been the topic of several other research reports. Citigroup dropped their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday. Royal Bank of Canada reduced their price target 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. Mizuho reduced their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. StockNews.com upgraded PPG Industries from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 12th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, PPG Industries has an average rating of “Moderate Buy” and an average target price of $149.29.

PPG Industries Price Performance

Shares of PPG Industries stock opened at $119.27 on Thursday. The firm has a market cap of $27.67 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. The company’s fifty day simple moving average is $125.15 and its two-hundred day simple moving average is $126.33. 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 has a 12-month low of $118.07 and a 12-month high of $150.82.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to analysts’ expectations of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.07 EPS. As a group, equities analysts expect that PPG Industries will post 8.18 EPS for the current year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is 43.11%.

Insider Activity

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the sale, the vice president now owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.56% of the company’s stock.

Institutional Trading of PPG Industries

Institutional investors and hedge funds have recently made changes to their positions in the business. Financial Connections Group Inc. bought a new stake in PPG Industries during the 2nd quarter valued at $25,000. Pin Oak Investment Advisors Inc. boosted its position in PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Capital Performance Advisors LLP bought a new position in PPG Industries in the third quarter worth about $34,000. Rothschild Investment LLC purchased a new stake in shares of PPG Industries during the second quarter valued at about $37,000. Finally, Hara Capital LLC bought a new stake in shares of PPG Industries in the 3rd quarter valued at about $40,000. 81.86% of the stock is currently owned by 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.