PPG Industries, Inc. (NYSE:PPG) has earned a consensus recommendation of “Hold” from the twenty analysts that are covering the company, Marketbeat reports. Eleven analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $123.25.
A number of brokerages have commented on PPG. Raymond James Financial began coverage on shares of PPG Industries in a report on Tuesday, December 19th. They issued an “outperform” rating and a $139.00 target price for the company. Atlantic Securities downgraded shares of PPG Industries from an “overweight” rating to a “neutral” rating in a report on Wednesday, January 17th. Robert W. Baird boosted their target price on shares of PPG Industries from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, October 20th. Wells Fargo & Co reiterated a “market perform” rating and issued a $120.00 target price (up from $110.00) on shares of PPG Industries in a report on Tuesday, November 28th. They noted that the move was a valuation call. Finally, Northcoast Research reiterated a “buy” rating and issued a $128.00 target price on shares of PPG Industries in a report on Friday, January 19th.
PPG Industries (NYSE:PPG) opened at $110.30 on Friday. The company has a market cap of $29,000.07, a PE ratio of 17.48, a price-to-earnings-growth ratio of 1.99 and a beta of 1.58. The company has a quick ratio of 1.26, a current ratio of 1.65 and a debt-to-equity ratio of 0.68. PPG Industries has a fifty-two week low of $99.79 and a fifty-two week high of $122.07.
PPG Industries declared that its board has initiated a stock buyback plan on Thursday, December 14th that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, February 15th. This represents a $1.80 annualized dividend and a dividend yield of 1.63%. PPG Industries’s dividend payout ratio (DPR) is currently 28.53%.
Several institutional investors and hedge funds have recently bought and sold shares of the company. First Allied Advisory Services Inc. increased its holdings in shares of PPG Industries by 22.4% during the fourth quarter. First Allied Advisory Services Inc. now owns 7,900 shares of the specialty chemicals company’s stock valued at $920,000 after acquiring an additional 1,448 shares in the last quarter. MUFG Americas Holdings Corp boosted its position in PPG Industries by 5.6% in the fourth quarter. MUFG Americas Holdings Corp now owns 22,698 shares of the specialty chemicals company’s stock valued at $2,652,000 after buying an additional 1,202 shares during the last quarter. D.A. Davidson & CO. boosted its position in PPG Industries by 4.5% in the fourth quarter. D.A. Davidson & CO. now owns 92,729 shares of the specialty chemicals company’s stock valued at $10,833,000 after buying an additional 3,958 shares during the last quarter. Advisory Services Network LLC boosted its position in PPG Industries by 379.1% in the fourth quarter. Advisory Services Network LLC now owns 3,756 shares of the specialty chemicals company’s stock valued at $439,000 after buying an additional 2,972 shares during the last quarter. Finally, Toronto Dominion Bank boosted its position in PPG Industries by 11.3% in the fourth quarter. Toronto Dominion Bank now owns 116,568 shares of the specialty chemicals company’s stock valued at $13,617,000 after buying an additional 11,808 shares during the last quarter. Hedge funds and other institutional investors own 75.21% 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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