PPG Industries (NYSE:PPG) Downgraded by ValuEngine to “Hold”

ValuEngine downgraded shares of PPG Industries (NYSE:PPG) from a buy rating to a hold rating in a research report report published on Thursday morning, ValuEngine reports.

PPG has been the subject of several other reports. SunTrust Banks reaffirmed a hold rating and issued a $123.00 price target on shares of PPG Industries in a report on Friday, July 19th. They noted that the move was a valuation call. Societe Generale assumed coverage on shares of PPG Industries in a report on Tuesday, July 9th. They issued a buy rating and a $138.00 price target for the company. Buckingham Research lifted their price target on shares of PPG Industries from $110.00 to $115.00 and gave the company a neutral rating in a report on Tuesday, July 16th. Deutsche Bank lifted their price target on shares of PPG Industries from $120.00 to $134.00 and gave the company a buy rating in a report on Monday, April 22nd. They noted that the move was a valuation call. Finally, KeyCorp lifted their price target on shares of PPG Industries from $117.00 to $125.00 and gave the company an overweight rating in a report on Friday, April 12th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of Hold and an average target price of $123.71.

Shares of PPG traded down $1.50 during midday trading on Thursday, hitting $114.17. The company had a trading volume of 1,124,604 shares, compared to its average volume of 1,224,755. The firm has a 50 day moving average price of $116.95. The stock has a market cap of $27.74 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 2.04 and a beta of 1.22. PPG Industries has a 52 week low of $94.37 and a 52 week high of $121.29. The company has a current ratio of 1.43, a quick ratio of 1.01 and a debt-to-equity ratio of 1.04.

PPG Industries (NYSE:PPG) last released its earnings results on Thursday, July 18th. The specialty chemicals company reported $1.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.02. The company had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $4.10 billion. PPG Industries had a net margin of 8.07% and a return on equity of 27.89%. The company’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.90 EPS. On average, research analysts predict that PPG Industries will post 6.28 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Monday, August 12th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.79%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, August 9th. PPG Industries’s payout ratio is presently 32.43%.

In other PPG Industries news, VP William E. Schaupp sold 2,500 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $106.88, for a total transaction of $267,200.00. Following the completion of the transaction, the vice president now directly owns 4,389 shares of the company’s stock, valued at approximately $469,096.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Vadlamannati Ramaprasad sold 13,904 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $117.12, for a total transaction of $1,628,436.48. Following the transaction, the vice president now directly owns 29,617 shares of the company’s stock, valued at $3,468,743.04. The disclosure for this sale can be found here. Insiders have sold a total of 17,078 shares of company stock valued at $1,967,862 over the last three months. 0.37% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in PPG Industries by 13.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,119,556 shares of the specialty chemicals company’s stock worth $114,450,000 after acquiring an additional 130,127 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of PPG Industries by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 2,839,765 shares of the specialty chemicals company’s stock valued at $289,748,000 after purchasing an additional 153,809 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in shares of PPG Industries in the 4th quarter valued at $201,000. Thrivent Financial for Lutherans boosted its holdings in shares of PPG Industries by 1.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 10,898 shares of the specialty chemicals company’s stock valued at $1,114,000 after purchasing an additional 192 shares during the last quarter. Finally, Actinver Wealth Management Inc. acquired a new position in shares of PPG Industries in the 4th quarter valued at $265,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Company Profile

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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Analyst Recommendations for PPG Industries (NYSE:PPG)

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