PPG Industries (NYSE:PPG) Price Target Lowered to $145.00 at JPMorgan Chase & Co.

PPG Industries (NYSE:PPG) had its target price reduced by JPMorgan Chase & Co. from $155.00 to $145.00 in a research report report published on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the specialty chemicals company’s stock.

A number of other research firms have also recently commented on PPG. Royal Bank of Canada lowered their price target on shares of PPG Industries from $140.00 to $139.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 23rd. Citigroup lowered their target price on PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Bank of America cut their price target on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. UBS Group boosted their price objective on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Finally, Mizuho cut their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.50.

PPG Industries Stock Performance

Shares of PPG opened at $130.93 on Friday. The stock has a 50 day moving average of $127.21 and a 200 day moving average of $129.19. The company has a market capitalization of $30.55 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.73 and a beta of 1.26. PPG Industries has a 12 month low of $118.07 and a 12 month high of $151.16. The company has a current ratio of 1.49, a quick ratio of 1.05 and a debt-to-equity ratio of 0.73.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). PPG Industries had a return on equity of 23.57% and a net margin of 7.98%. The company had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period last year, the firm posted $2.07 earnings per share. PPG Industries’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, sell-side analysts forecast that PPG Industries will post 8.24 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s dividend payout ratio (DPR) is presently 44.59%.

Hedge Funds Weigh In On PPG Industries

Several institutional investors and hedge funds have recently bought and sold shares of PPG. Kingsview Wealth Management LLC grew its holdings in shares of PPG Industries by 0.9% in the first quarter. Kingsview Wealth Management LLC now owns 8,312 shares of the specialty chemicals company’s stock worth $1,204,000 after purchasing an additional 76 shares during the last quarter. Applied Capital LLC FL grew its stake in shares of PPG Industries by 1.3% in the first quarter. Applied Capital LLC FL now owns 6,402 shares of the specialty chemicals company’s stock worth $928,000 after purchasing an additional 82 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in PPG Industries by 0.4% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 20,244 shares of the specialty chemicals company’s stock valued at $2,549,000 after purchasing an additional 82 shares during the period. Klingman & Associates LLC lifted its holdings in PPG Industries by 2.6% in the 2nd quarter. Klingman & Associates LLC now owns 3,326 shares of the specialty chemicals company’s stock worth $419,000 after buying an additional 83 shares during the period. Finally, Fragasso Financial Advisors Inc increased its stake in shares of PPG Industries by 0.6% during the second quarter. Fragasso Financial Advisors Inc now owns 13,958 shares of the specialty chemicals company’s stock valued at $1,757,000 after buying an additional 84 shares during the period. 81.86% of the stock is currently owned by institutional investors.

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.