PPG Industries, Inc. (NYSE:PPG) has been assigned a consensus rating of “Hold” from the eighteen ratings firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $116.62.
Several research firms recently commented on PPG. Zacks Investment Research upgraded PPG Industries from a “sell” rating to a “hold” rating in a research note on Thursday. KeyCorp upped their target price on PPG Industries from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday. Argus upgraded PPG Industries to a “buy” rating and set a $136.00 target price for the company in a research note on Thursday, December 20th. BMO Capital Markets set a $112.00 target price on PPG Industries and gave the company a “hold” rating in a research note on Wednesday, January 23rd. Finally, Royal Bank of Canada upgraded PPG Industries from a “sector perform” rating to an “outperform” rating and set a $96.43 target price for the company in a research note on Thursday, December 20th.
Shares of NYSE PPG traded up $0.87 during trading on Wednesday, reaching $116.47. The company had a trading volume of 1,094,100 shares, compared to its average volume of 1,255,067. PPG Industries has a twelve month low of $94.37 and a twelve month high of $116.73. The stock has a market cap of $27.29 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 2.17 and a beta of 1.19. The company has a quick ratio of 0.96, a current ratio of 1.36 and a debt-to-equity ratio of 0.92.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Friday, February 22nd were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.65%. PPG Industries’s dividend payout ratio is presently 32.43%.
A number of large investors have recently made changes to their positions in PPG. Mirae Asset Global Investments Co. Ltd. increased its stake in PPG Industries by 5.7% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,483 shares of the specialty chemicals company’s stock worth $2,017,000 after acquiring an additional 1,004 shares during the last quarter. Capital International Investors acquired a new stake in PPG Industries during the third quarter worth about $196,434,000. Burgundy Asset Management Ltd. increased its stake in PPG Industries by 1.7% during the third quarter. Burgundy Asset Management Ltd. now owns 336,992 shares of the specialty chemicals company’s stock worth $36,776,000 after acquiring an additional 5,486 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in PPG Industries by 19.0% during the third quarter. The Manufacturers Life Insurance Company now owns 711,664 shares of the specialty chemicals company’s stock worth $77,663,000 after acquiring an additional 113,466 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in PPG Industries by 14.0% during the third quarter. Pacer Advisors Inc. now owns 13,172 shares of the specialty chemicals company’s stock worth $1,437,000 after acquiring an additional 1,622 shares during the last quarter. Institutional investors own 79.74% 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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