Shares of PPG Industries Inc. (NYSE:PPG) have received a consensus recommendation of “Buy” from the thirteen ratings firms that are presently covering the firm. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $123.67.
Several research analysts recently weighed in on the stock. Jefferies Group restated a “buy” rating and set a $129.00 price target on shares of PPG Industries in a research report on Wednesday. Zacks Investment Research upgraded shares of PPG Industries from a “sell” rating to a “hold” rating in a report on Wednesday, September 28th. Credit Suisse Group AG reiterated a “buy” rating and issued a $115.00 price objective on shares of PPG Industries in a report on Tuesday, September 13th. Seaport Global Securities upgraded shares of PPG Industries from an “accumulate” rating to a “buy” rating and increased their price objective for the company from $125.00 to $130.00 in a report on Tuesday, July 26th. Finally, Longbow Research upgraded shares of PPG Industries from a “neutral” rating to a “buy” rating and set a $130.00 price objective for the company in a report on Thursday, June 23rd.
Shares of PPG Industries (NYSE:PPG) opened at 101.58 on Monday. The company has a market cap of $27.05 billion, a P/E ratio of 18.77 and a beta of 1.47. The stock’s 50 day moving average is $103.85 and its 200 day moving average is $107.13. PPG Industries has a 1-year low of $88.37 and a 1-year high of $117.00.
PPG Industries (NYSE:PPG) last released its quarterly earnings results on Thursday, July 21st. The company reported $1.85 earnings per share for the quarter, hitting the consensus estimate of $1.85. PPG Industries had a net margin of 9.57% and a return on equity of 30.94%. The firm earned $4.10 billion during the quarter, compared to the consensus estimate of $4.17 billion. During the same quarter in the prior year, the firm earned $1.67 EPS. The company’s revenue for the quarter was down .9% on a year-over-year basis. On average, analysts predict that PPG Industries will post $6.18 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Wednesday, August 10th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, August 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.58%. PPG Industries’s payout ratio is currently 29.57%.
In related news, insider Viktoras R. Sekmakas sold 40,950 shares of the stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $106.64, for a total transaction of $4,366,908.00. Following the completion of the transaction, the insider now owns 69,044 shares of the company’s stock, valued at approximately $7,362,852.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Timothy M. Knavish sold 9,300 shares of the stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $104.08, for a total transaction of $967,944.00. Following the transaction, the vice president now directly owns 11,806 shares of the company’s stock, valued at approximately $1,228,768.48. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.
Several institutional investors have recently bought and sold shares of PPG. Cable Hill Partners LLC boosted its position in PPG Industries by 1.9% in the second quarter. Cable Hill Partners LLC now owns 1,346 shares of the company’s stock worth $142,000 after buying an additional 25 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in PPG Industries during the first quarter worth about $144,000. Invictus RG acquired a new stake in PPG Industries during the first quarter worth about $147,000. Nikko Asset Management Americas Inc. acquired a new stake in PPG Industries during the first quarter worth about $157,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in PPG Industries by 12.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 1,413 shares of the company’s stock worth $158,000 after buying an additional 162 shares during the period. 73.04% of the stock is owned by hedge funds and other institutional investors.