Societe Generale started coverage on shares of PPG Industries (NYSE:PPG) in a research report report published on Tuesday, Briefing.com Automated Import reports. The brokerage issued a buy rating and a $138.00 target price on the specialty chemicals company’s stock.
PPG has been the subject of several other research reports. BMO Capital Markets restated a hold rating and issued a $45.00 target price on shares of SAP in a research report on Wednesday, May 1st. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. KeyCorp set a $37.00 target price on shares of SeaWorld Entertainment and gave the stock a buy rating in a research report on Friday, April 12th. Barclays set a $46.00 price target on shares of D. R. Horton and gave the stock a buy rating in a research note on Friday, April 26th. Finally, Zacks Investment Research lowered shares of GENEL ENERGY PL/ADR from a hold rating to a sell rating in a research note on Thursday, July 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $119.23.
PPG stock opened at $116.00 on Tuesday. The stock has a market cap of $27.25 billion, a PE ratio of 19.59, a P/E/G ratio of 2.04 and a beta of 1.23. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.40 and a quick ratio of 0.97. PPG Industries has a one year low of $94.37 and a one year high of $121.29. The stock has a 50 day moving average price of $113.67.
PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, April 18th. The specialty chemicals company reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.17. PPG Industries had a net margin of 8.67% and a return on equity of 28.72%. The company had revenue of $3.62 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same period in the previous year, the company earned $1.39 EPS. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, equities analysts anticipate that PPG Industries will post 6.29 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 10th were paid a $0.48 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.92 annualized dividend and a yield of 1.66%. PPG Industries’s dividend payout ratio is presently 32.43%.
In other news, VP William E. Schaupp sold 2,500 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $106.88, for a total transaction of $267,200.00. Following the transaction, the vice president now owns 4,389 shares in the company, valued at approximately $469,096.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Victoria F. Haynes sold 674 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $107.16, for a total transaction of $72,225.84. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in PPG. Trian Fund Management L.P. increased its stake in shares of PPG Industries by 69.2% during the 4th quarter. Trian Fund Management L.P. now owns 7,009,412 shares of the specialty chemicals company’s stock worth $716,572,000 after purchasing an additional 2,866,150 shares during the last quarter. Norges Bank acquired a new position in PPG Industries in the 4th quarter valued at $36,143,000. Deutsche Bank AG grew its stake in PPG Industries by 24.0% in the 4th quarter. Deutsche Bank AG now owns 1,341,354 shares of the specialty chemicals company’s stock valued at $137,116,000 after buying an additional 259,442 shares during the last quarter. Retirement Systems of Alabama grew its stake in PPG Industries by 155.0% in the 2nd quarter. Retirement Systems of Alabama now owns 280,106 shares of the specialty chemicals company’s stock valued at $32,691,000 after buying an additional 170,261 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its stake in PPG Industries by 53.2% in the 4th quarter. Lord Abbett & CO. LLC now owns 476,492 shares of the specialty chemicals company’s stock valued at $48,712,000 after buying an additional 165,400 shares during the last quarter. Institutional investors own 78.45% 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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