PPG Industries, Inc. (PPG) Receives “Buy” Rating from Jefferies Group LLC
Jefferies Group LLC reiterated their buy rating on shares of PPG Industries, Inc. (NYSE:PPG) in a report issued on Thursday. The firm currently has a $120.00 price target on the specialty chemicals company’s stock.
PPG has been the topic of a number of other research reports. Deutsche Bank AG raised their price objective on shares of PPG Industries from $110.00 to $115.00 and gave the stock a hold rating in a report on Friday, July 21st. BidaskClub downgraded shares of PPG Industries from a buy rating to a hold rating in a report on Monday, July 31st. Robert W. Baird reissued a buy rating and issued a $115.00 price objective on shares of PPG Industries in a report on Friday, September 1st. Argus raised shares of PPG Industries from a hold rating to a buy rating and raised their price objective for the stock from $110.61 to $136.00 in a report on Wednesday, July 5th. Finally, Royal Bank Of Canada reissued a hold rating and issued a $109.00 price objective on shares of PPG Industries in a report on Wednesday, September 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. PPG Industries currently has a consensus rating of Hold and an average target price of $118.43.
Shares of PPG Industries (PPG) opened at 117.76 on Thursday. The stock has a market capitalization of $30.20 billion, a PE ratio of 30.98 and a beta of 1.55. The company’s 50 day moving average is $109.49 and its 200-day moving average is $107.98. PPG Industries has a 52 week low of $89.64 and a 52 week high of $117.80.
PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Thursday, October 19th. The specialty chemicals company reported $1.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.52. The company had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.75 billion. PPG Industries had a net margin of 12.21% and a return on equity of 28.77%. The firm’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.56 earnings per share. On average, equities analysts predict that PPG Industries will post $5.97 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, November 10th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.53%. The ex-dividend date is Thursday, November 9th. PPG Industries’s dividend payout ratio is currently 26.12%.
In other news, insider Viktoras R. Sekmakas sold 18,616 shares of PPG Industries stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $102.49, for a total transaction of $1,907,953.84. Following the sale, the insider now owns 15,545 shares in the company, valued at $1,593,207.05. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Glenn E. Bost II sold 19,812 shares of PPG Industries stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $100.80, for a total transaction of $1,997,049.60. Following the sale, the vice president now owns 52,748 shares in the company, valued at approximately $5,316,998.40. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in PPG. Waldron LP bought a new stake in shares of PPG Industries during the first quarter valued at approximately $292,000. Westpac Banking Corp raised its position in shares of PPG Industries by 69.1% during the first quarter. Westpac Banking Corp now owns 91,350 shares of the specialty chemicals company’s stock valued at $10,142,000 after buying an additional 37,340 shares during the last quarter. AE Wealth Management LLC bought a new stake in shares of PPG Industries during the first quarter valued at approximately $288,000. AXA raised its position in shares of PPG Industries by 36.4% during the first quarter. AXA now owns 562,228 shares of the specialty chemicals company’s stock valued at $59,079,000 after buying an additional 150,175 shares during the last quarter. Finally, Roundview Capital LLC raised its position in shares of PPG Industries by 57.4% during the first quarter. Roundview Capital LLC now owns 10,558 shares of the specialty chemicals company’s stock valued at $1,109,000 after buying an additional 3,850 shares during the last quarter. Hedge funds and other institutional investors own 73.93% of the company’s stock.
PPG Industries Company Profile
PPG Industries, Inc manufactures and distributes a range of coatings and specialty materials. The Company has two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment includes the refinish, aerospace, protective and marine, architectural businesses. The Industrial Coatings segment includes the automotive original equipment manufacturer (OEM), industrial coatings, packaging coatings, coatings services and specialty coatings and materials businesses.
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