PPG Industries (NYSE:PPG) has received an average recommendation of “Hold” from the twenty-one analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $124.21.
Several analysts recently commented on the stock. Jefferies Group cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, May 16th. BMO Capital Markets reduced their price objective on shares of PPG Industries to $116.00 and set a “market perform” rating for the company in a research note on Thursday, May 17th. Royal Bank of Canada reiterated a “hold” rating on shares of PPG Industries in a research note on Tuesday, April 24th. Seaport Global Securities cut shares of PPG Industries from a “buy” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research note on Tuesday, April 17th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $125.00 price objective on shares of PPG Industries in a research note on Friday, April 20th.
Shares of PPG Industries traded up $0.90, hitting $103.40, during midday trading on Friday, according to Marketbeat Ratings. The company had a trading volume of 1,121,484 shares, compared to its average volume of 1,649,749. The company has a quick ratio of 1.22, a current ratio of 1.66 and a debt-to-equity ratio of 0.73. PPG Industries has a twelve month low of $100.36 and a twelve month high of $122.07. The stock has a market capitalization of $25.67 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 1.80 and a beta of 1.56.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 12th. Shareholders of record on Thursday, May 10th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Wednesday, May 9th. PPG Industries’s payout ratio is currently 30.66%.
Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Montreal Can raised its position in shares of PPG Industries by 41.2% in the fourth quarter. Bank of Montreal Can now owns 259,602 shares of the specialty chemicals company’s stock valued at $30,328,000 after buying an additional 75,741 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of PPG Industries by 443.0% in the fourth quarter. State of Alaska Department of Revenue now owns 31,526 shares of the specialty chemicals company’s stock valued at $3,680,000 after buying an additional 25,720 shares during the last quarter. TRUE Private Wealth Advisors raised its position in shares of PPG Industries by 101.8% in the fourth quarter. TRUE Private Wealth Advisors now owns 4,454 shares of the specialty chemicals company’s stock valued at $520,000 after buying an additional 2,247 shares during the last quarter. V Wealth Management LLC acquired a new position in shares of PPG Industries in the fourth quarter valued at approximately $204,000. Finally, Terril Brothers Inc. acquired a new position in shares of PPG Industries in the fourth quarter valued at approximately $694,000. Institutional investors own 75.86% of the company’s stock.
About PPG Industries
PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States and internationally. It operates through Performance Coatings and Industrial Coatings segments. The Performance Coatings segment provides coatings products for automotive and commercial transport/fleet repair and refurbishing; light industrial and specialty coatings for signs; coatings, sealants, and transparencies for commercial, military, regional jet and general aviation aircraft, and transparent armor; protective and marine coatings and finishes; architectural coatings; and purchased sundries to painting contractors and consumers, as well as chemical management services.
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