PPG Industries (NYSE:PPG) Hits New 12-Month Low on Analyst Downgrade

PPG Industries, Inc. (NYSE:PPG)’s stock price hit a new 52-week low on Monday after UBS Group lowered their price target on the stock from $128.00 to $126.00. UBS Group currently has a neutral rating on the stock. PPG Industries traded as low as $112.68 and last traded at $111.15, with a volume of 109698 shares traded. The stock had previously closed at $115.38.

PPG has been the subject of a number of other research reports. JPMorgan Chase & Co. reduced their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. BMO Capital Markets restated an “outperform” rating and issued a $155.00 price objective (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. 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. Royal Bank of Canada reduced their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. Finally, Citigroup dropped their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Hedge Funds Weigh In On PPG Industries

Several institutional investors have recently modified their holdings of the company. Insight Folios Inc increased its position in shares of PPG Industries by 3.8% during the 3rd quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock valued at $294,000 after purchasing an additional 81 shares during the last quarter. Alpha DNA Investment Management LLC grew its position in PPG Industries by 1.1% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 8,344 shares of the specialty chemicals company’s stock worth $1,105,000 after acquiring an additional 92 shares during the last quarter. Mutual Advisors LLC grew its position in PPG Industries by 3.6% during the 4th quarter. Mutual Advisors LLC now owns 2,666 shares of the specialty chemicals company’s stock worth $319,000 after acquiring an additional 92 shares during the last quarter. Groupama Asset Managment grew its position in PPG Industries by 1.2% during the 3rd quarter. Groupama Asset Managment now owns 7,750 shares of the specialty chemicals company’s stock worth $1,027,000 after acquiring an additional 93 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its position in PPG Industries by 28.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 431 shares of the specialty chemicals company’s stock worth $51,000 after acquiring an additional 95 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Trading Down 4.1 %

The firm has a 50-day moving average of $121.11 and a 200-day moving average of $124.33. 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 firm has a market capitalization of $25.68 billion, a P/E ratio of 23.46, a price-to-earnings-growth ratio of 1.99 and a beta of 1.23.

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

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.46%. PPG Industries’s dividend payout ratio is currently 57.51%.

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.