PPG Industries (NYSE:PPG) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of PPG Industries (NYSE:PPG) from a buy rating to a hold rating in a report published on Monday morning.

A number of other research firms have also weighed in on PPG. UBS Group dropped their price objective on shares of PPG Industries from $128.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. BMO Capital Markets reaffirmed an “outperform” rating and issued a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a research report on Monday, October 21st. Mizuho decreased their price objective on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Monday. Wells Fargo & Company dropped their target price on PPG Industries from $150.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Barclays cut their target price on PPG Industries from $144.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Monday. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $140.92.

PPG Industries Stock Performance

Shares of PPG opened at $112.61 on Monday. PPG Industries has a one year low of $110.20 and a one year high of $145.60. The company has a market cap of $26.13 billion, a PE ratio of 23.81, a P/E/G ratio of 1.99 and a beta of 1.23. The stock has a 50-day moving average of $120.59 and a 200-day moving average of $124.07. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Thursday, January 30th. The specialty chemicals company reported $1.61 EPS for the quarter, missing analysts’ consensus estimates of $1.65 by ($0.04). PPG Industries had a net margin of 6.41% and a return on equity of 23.78%. On average, equities research analysts predict that PPG Industries will post 7.9 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Friday, February 21st will be paid a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Friday, February 21st. PPG Industries’s payout ratio is 57.51%.

Hedge Funds Weigh In On PPG Industries

Institutional investors have recently added to or reduced their stakes in the stock. Legend Financial Advisors Inc. purchased a new position in PPG Industries in the fourth quarter valued at about $27,000. Pin Oak Investment Advisors Inc. raised its holdings in shares of PPG Industries by 465.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 200 shares during the period. Capital Performance Advisors LLP purchased a new position in PPG Industries in the third quarter valued at approximately $34,000. Hara Capital LLC bought a new position in PPG Industries during the third quarter valued at $40,000. Finally, Albion Financial Group UT purchased a new stake in PPG Industries in the fourth quarter worth $38,000. Institutional investors own 81.86% of the company’s stock.

About PPG Industries

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.