PPG Industries (NYSE:PPG) Given New $135.00 Price Target at The Goldman Sachs Group

PPG Industries (NYSE:PPG) had its target price lowered by The Goldman Sachs Group from $153.00 to $135.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a buy rating on the specialty chemicals company’s stock.

PPG has been the subject of a number of other research reports. KeyCorp lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Citigroup reduced their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. UBS Group reduced their price objective on PPG Industries from $128.00 to $126.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. StockNews.com lowered PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, PPG Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.46.

PPG Industries Stock Performance

Shares of PPG opened at $115.93 on Thursday. The firm has a market cap of $26.90 billion, a PE ratio of 24.51, a P/E/G ratio of 1.99 and a beta of 1.23. 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 stock has a fifty day moving average price of $120.37 and a 200-day moving average price of $123.99. PPG Industries has a 12 month low of $110.20 and a 12 month high of $145.60.

PPG Industries (NYSE:PPG) last issued its earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. Equities research analysts predict that PPG Industries will post 7.9 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

Institutional Investors Weigh In On PPG Industries

Institutional investors have recently modified their holdings of the business. Park Avenue Securities LLC boosted its holdings in PPG Industries by 21.0% in the 3rd quarter. Park Avenue Securities LLC now owns 2,129 shares of the specialty chemicals company’s stock worth $282,000 after buying an additional 369 shares during the last quarter. Czech National Bank boosted its holdings in PPG Industries by 6.0% in the 3rd quarter. Czech National Bank now owns 47,525 shares of the specialty chemicals company’s stock worth $6,295,000 after buying an additional 2,674 shares during the last quarter. CWM LLC boosted its holdings in PPG Industries by 24.7% in the 3rd quarter. CWM LLC now owns 11,886 shares of the specialty chemicals company’s stock worth $1,574,000 after buying an additional 2,351 shares during the last quarter. Bruce G. Allen Investments LLC boosted its holdings in PPG Industries by 14.5% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,092 shares of the specialty chemicals company’s stock worth $145,000 after buying an additional 138 shares during the last quarter. Finally, USA Financial Formulas acquired a new stake in PPG Industries in the 3rd quarter worth about $76,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

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.