PPG Industries (NYSE:PPG) Rating Reiterated by BMO Capital Markets

BMO Capital Markets reaffirmed their outperform rating on shares of PPG Industries (NYSE:PPG) in a research report sent to investors on Monday morning, Benzinga reports. BMO Capital Markets currently has a $155.00 price objective on the specialty chemicals company’s stock, down from their prior price objective of $160.00.

PPG has been the subject of several other research reports. Barclays reduced their price target on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, July 22nd. Citigroup reduced their price objective on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. UBS Group increased their target price on PPG Industries from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. KeyCorp reduced their price target on PPG Industries from $162.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, Mizuho dropped their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, PPG Industries currently has an average rating of “Moderate Buy” and a consensus target price of $149.93.

PPG Industries Stock Up 0.8 %

Shares of NYSE:PPG opened at $127.23 on Monday. The business’s 50 day moving average is $127.69 and its 200 day moving average is $128.83. The stock has a market cap of $29.52 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 1.94 and a beta of 1.26. PPG Industries has a 52-week low of $118.07 and a 52-week high of $151.16. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG) last posted its quarterly 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 firm had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. PPG Industries’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.07 EPS. Sell-side analysts predict that PPG Industries will post 8.19 EPS for the current year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be given a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Tuesday, November 12th. PPG Industries’s payout ratio is 43.11%.

Institutional Trading of PPG Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Financial Connections Group Inc. acquired a new position in shares of PPG Industries in the second quarter valued at about $25,000. Riverview Trust Co acquired a new position in PPG Industries in the 1st quarter worth approximately $34,000. Rothschild Investment LLC purchased a new position in PPG Industries during the 2nd quarter worth approximately $37,000. LRI Investments LLC lifted its stake in PPG Industries by 463.8% during the 2nd quarter. LRI Investments LLC now owns 389 shares of the specialty chemicals company’s stock valued at $49,000 after acquiring an additional 320 shares during the period. Finally, Slocum Gordon & Co LLP boosted its holdings in shares of PPG Industries by 51.7% in the 2nd quarter. Slocum Gordon & Co LLP now owns 455 shares of the specialty chemicals company’s stock valued at $57,000 after acquiring an additional 155 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

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.