PPG Industries (NYSE:PPG) Reaches New 12-Month Low – Here’s Why

PPG Industries, Inc. (NYSE:PPG) shares hit a new 52-week low on Tuesday . The company traded as low as $109.96 and last traded at $110.39, with a volume of 323943 shares trading hands. The stock had previously closed at $111.72.

Wall Street Analyst Weigh In

PPG has been the subject of a number of recent research reports. Barclays restated an “equal weight” rating on shares of PPG Industries in a research note on Monday, February 3rd. UBS Group decreased their price target on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. cut PPG Industries from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $145.00 to $115.00 in a report on Wednesday, February 12th. Citigroup reduced their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Finally, KeyCorp cut PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $138.15.

PPG Industries Stock Down 2.0 %

The business’s 50 day moving average price is $117.40 and its 200 day moving average price is $123.02. The firm has a market cap of $24.84 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 2.19 and a beta of 1.23. 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 posted its 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 analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s payout ratio is presently 57.51%.

Insider Transactions at PPG Industries

In related news, CEO Timothy M. Knavish sold 4,800 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the transaction, the chief executive officer now 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. grew its position in PPG Industries by 15.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 2,224 shares of the specialty chemicals company’s stock valued at $295,000 after acquiring an additional 293 shares in the last quarter. Stephens Inc. AR grew its holdings in shares of PPG Industries by 3.7% in the third quarter. Stephens Inc. AR now owns 11,534 shares of the specialty chemicals company’s stock valued at $1,528,000 after purchasing an additional 409 shares in the last quarter. Farther Finance Advisors LLC increased its stake in PPG Industries by 14.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,445 shares of the specialty chemicals company’s stock worth $324,000 after buying an additional 306 shares during the period. Van ECK Associates Corp lifted its holdings in PPG Industries by 15.5% during the 3rd quarter. Van ECK Associates Corp now owns 39,801 shares of the specialty chemicals company’s stock worth $5,026,000 after buying an additional 5,329 shares in the last quarter. Finally, KG&L Capital Management LLC purchased a new position in PPG Industries in the 3rd quarter valued at approximately $200,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

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.