TheStreet lowered shares of PPG Industries Inc. (NYSE:PPG) from a buy rating to a hold rating in a research report report published on Monday morning.

Several other equities analysts have also commented on PPG. Argus lowered PPG Industries from a buy rating to a hold rating in a research report on Tuesday, October 25th. Citigroup Inc. reduced their price target on PPG Industries from $131.00 to $112.00 and set a buy rating on the stock in a research report on Tuesday, October 11th. Goldman Sachs Group Inc. reissued a buy rating and set a $111.00 price target (down from $119.00) on shares of PPG Industries in a research report on Thursday, October 13th. Jefferies Group reissued a buy rating and set a $113.00 price target (down from $129.00) on shares of PPG Industries in a research report on Monday, October 24th. Finally, Seaport Global Securities raised PPG Industries from an accumulate rating to a buy rating and boosted their price target for the stock from $125.00 to $130.00 in a research report on Tuesday, July 26th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of $113.42.

Analyst Recommendations for PPG Industries (NYSE:PPG)

Shares of PPG Industries (NYSE:PPG) traded up 0.45% during trading on Monday, hitting $96.62. 1,513,562 shares of the stock were exchanged. The stock’s 50 day moving average price is $94.49 and its 200 day moving average price is $102.80. PPG Industries has a one year low of $88.37 and a one year high of $117.00. The stock has a market cap of $25.51 billion, a PE ratio of 30.69 and a beta of 1.40.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, October 20th. The company reported $1.56 EPS for the quarter, hitting the consensus estimate of $1.56. The firm had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.83 billion. PPG Industries had a return on equity of 30.59% and a net margin of 5.56%. PPG Industries’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.61 EPS. Equities research analysts predict that PPG Industries will post $5.91 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Thursday, November 10th will be issued a $0.40 dividend. The ex-dividend date is Tuesday, November 8th. This represents a $1.60 annualized dividend and a dividend yield of 1.66%. PPG Industries’s dividend payout ratio (DPR) is 51.12%.

Hedge funds have recently made changes to their positions in the stock. Cornerstone Advisors Inc. raised its stake in shares of PPG Industries by 1,076.4% in the third quarter. Cornerstone Advisors Inc. now owns 1,047 shares of the company’s stock valued at $108,000 after buying an additional 958 shares during the period. Penserra Capital Management LLC raised its stake in shares of PPG Industries by 95.6% in the third quarter. Penserra Capital Management LLC now owns 1,375 shares of the company’s stock valued at $141,000 after buying an additional 672 shares during the period. Cable Hill Partners LLC raised its stake in shares of PPG Industries by 1.9% in the second quarter. Cable Hill Partners LLC now owns 1,346 shares of the company’s stock valued at $142,000 after buying an additional 25 shares during the period. SRB Corp raised its stake in shares of PPG Industries by 11.0% in the third quarter. SRB Corp now owns 1,471 shares of the company’s stock valued at $152,000 after buying an additional 146 shares during the period. Finally, Ropes Wealth Advisors LLC raised its stake in shares of PPG Industries by 2.2% in the second quarter. Ropes Wealth Advisors LLC now owns 1,697 shares of the company’s stock valued at $177,000 after buying an additional 37 shares during the period. Institutional investors and hedge funds own 71.24% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “PPG Industries Inc. (PPG) Downgraded by TheStreet to Hold” was posted by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are accessing this story on another site, it was illegally copied and republished in violation of United States and international copyright legislation. The original version of this story can be read at https://www.thecerbatgem.com/2016/11/23/ppg-industries-inc-ppg-downgraded-by-thestreet-to-hold.html.

About PPG Industries

PPG Industries, Inc (PPG) manufactures and distributes a range of coatings, specialty materials and glass products. PPG operates through three business segments: Performance Coatings, Industrial Coatings and Glass. The Performance Coatings segment consists of the refinish, aerospace, protective and marine, architectural-Americas and Asia Pacific, and architectural-EMEA coatings businesses.

5 Day Chart for NYSE:PPG

Receive News & Stock Ratings for PPG Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries Inc. and related stocks with our FREE daily email newsletter.