PPG Industries (NYSE:PPG) Downgraded by StockNews.com to “Buy”

StockNews.com cut shares of PPG Industries (NYSE:PPG) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday.

A number of other equities analysts have also recently commented on the company. Royal Bank of Canada reduced their price target on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. JPMorgan Chase & Co. reduced their price target on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Mizuho reduced their price target on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $149.93.

PPG Industries Price Performance

NYSE:PPG opened at $123.41 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. The stock’s 50-day simple moving average is $126.80 and its 200 day simple moving average is $127.22. The company has a market cap of $28.63 billion, a P/E ratio of 19.56, a P/E/G ratio of 1.92 and a beta of 1.26. PPG Industries has a 52-week low of $118.07 and a 52-week high of $151.16.

PPG Industries (NYSE:PPG) last released its earnings results 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 during the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. PPG Industries’s revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.07 EPS. As a group, sell-side analysts forecast that PPG Industries will post 8.18 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be paid a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is currently 43.11%.

Insider Activity at PPG Industries

In related news, VP Anne M. Foulkes sold 1,985 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was 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 directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.55% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PPG Industries

Several institutional investors have recently made changes to their positions in the stock. Financial Connections Group Inc. acquired a new position in PPG Industries during the second quarter valued at approximately $25,000. Pin Oak Investment Advisors Inc. raised 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 acquired a new position in PPG Industries during the third quarter valued at approximately $34,000. Rothschild Investment LLC acquired a new position in PPG Industries during the second quarter valued at approximately $37,000. Finally, Hara Capital LLC acquired a new position in PPG Industries during the third quarter valued at approximately $40,000. 81.86% of the stock is currently owned by institutional investors.

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.