Shares of PPG Industries, Inc. (NYSE:PPG) have earned an average recommendation of “Hold” from the twenty analysts that are presently covering the firm, MarketBeat reports. Fourteen investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $121.93.
Several analysts have recently commented on the company. Zacks Investment Research raised PPG Industries from a “sell” rating to a “hold” rating in a research note on Tuesday. Credit Suisse Group reissued a “neutral” rating and issued a $119.00 price objective on shares of PPG Industries in a research note on Monday. ValuEngine raised PPG Industries from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Citigroup lowered their price objective on PPG Industries from $123.00 to $113.00 and set a “neutral” rating for the company in a research note on Wednesday, July 11th. Finally, SunTrust Banks reissued a “hold” rating and issued a $110.00 price objective on shares of PPG Industries in a research note on Friday, July 20th.
Institutional investors and hedge funds have recently modified their holdings of the stock. Archford Capital Strategies LLC purchased a new stake in shares of PPG Industries during the first quarter valued at approximately $109,000. McKinley Carter Wealth Services Inc. bought a new position in PPG Industries during the first quarter valued at $104,000. Kohmann Bosshard Financial Services LLC bought a new position in PPG Industries during the first quarter valued at $112,000. Fort L.P. bought a new position in PPG Industries during the second quarter valued at $120,000. Finally, Adviser Investments LLC bought a new position in PPG Industries during the first quarter valued at $157,000. 76.60% of the stock is owned by institutional investors.
PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Thursday, July 19th. The specialty chemicals company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.88 by $0.02. The firm had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.12 billion. PPG Industries had a return on equity of 27.36% and a net margin of 9.87%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.83 earnings per share. research analysts anticipate that PPG Industries will post 6.2 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 12th. Investors of record on Friday, August 10th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.72%. This is an increase from PPG Industries’s previous quarterly dividend of $0.45. The ex-dividend date was Thursday, August 9th. PPG Industries’s dividend payout ratio (DPR) is presently 32.71%.
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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