PPG Industries’ (PPG) Neutral Rating Reaffirmed at Bank of America

PPG Industries (NYSE:PPG)‘s stock had its “neutral” rating restated by stock analysts at Bank of America in a research report issued on Tuesday. They presently have a $126.00 price objective on the specialty chemicals company’s stock. Bank of America‘s target price would suggest a potential upside of 25.71% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the company. Wells Fargo & Company dropped their price objective on PPG Industries from $130.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Citigroup lowered their price objective on shares of PPG Industries from $135.00 to $113.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. UBS Group dropped their price target on PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. The Goldman Sachs Group dropped their target price on shares of PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, February 6th. Finally, Argus lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Monday, March 10th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $132.31.

PPG Industries Trading Down 1.2 %

Shares of PPG stock traded down $1.25 on Tuesday, hitting $100.23. 60,620 shares of the company’s stock traded hands, compared to its average volume of 1,790,786. The stock has a market capitalization of $22.75 billion, a price-to-earnings ratio of 21.19, a P/E/G ratio of 2.19 and a beta of 1.16. The company’s fifty day simple moving average is $110.61 and its 200 day simple moving average is $118.75. PPG Industries has a one year low of $90.24 and a one year high of $137.24. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data 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 net margin of 6.41% and a return on equity of 23.78%. Equities analysts forecast that PPG Industries will post 7.95 EPS for the current year.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, CEO Timothy M. Knavish sold 4,800 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the transaction, the chief executive officer now directly owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.

Institutional Trading of PPG Industries

Several large investors have recently added to or reduced their stakes in PPG. Norges Bank bought a new stake in shares of PPG Industries during the 4th quarter valued at $470,535,000. Kovitz Investment Group Partners LLC lifted its position in shares of PPG Industries by 482.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company’s stock valued at $518,132,000 after buying an additional 3,592,655 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of PPG Industries by 815.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,031,164 shares of the specialty chemicals company’s stock valued at $362,074,000 after acquiring an additional 2,700,018 shares during the period. First Eagle Investment Management LLC raised its stake in PPG Industries by 138.9% during the 4th quarter. First Eagle Investment Management LLC now owns 3,196,951 shares of the specialty chemicals company’s stock worth $381,876,000 after acquiring an additional 1,858,895 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of PPG Industries by 17.7% in the fourth quarter. Wellington Management Group LLP now owns 10,567,051 shares of the specialty chemicals company’s stock worth $1,262,234,000 after purchasing an additional 1,590,041 shares during the period. 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.