PPG Industries (NYSE:PPG) Sets New 12-Month Low – Should You Sell?

PPG Industries, Inc. (NYSE:PPG)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $107.89 and last traded at $107.23, with a volume of 106068 shares traded. The stock had previously closed at $111.93.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PPG shares. Wells Fargo & Company reduced their target price on shares of PPG Industries from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Argus downgraded PPG Industries from a “buy” rating to a “hold” rating in a report on Monday, March 10th. JPMorgan Chase & Co. lowered PPG Industries from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $145.00 to $115.00 in a research report on Wednesday, February 12th. KeyCorp downgraded PPG Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 16th. Finally, Citigroup cut their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $138.15.

PPG Industries Trading Down 4.0 %

The company has a market cap of $24.39 billion, a P/E ratio of 22.72, a P/E/G ratio of 2.19 and a beta of 1.22. The business’s 50-day moving average price is $115.85 and its 200 day moving average price is $121.45. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results 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 return on equity of 23.78% and a net margin of 6.41%. As a group, analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 12th. Investors of record on Friday, February 21st were paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date was Friday, February 21st. PPG Industries’s dividend payout ratio (DPR) is presently 57.51%.

Insiders Place Their Bets

In related news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $118.35, for a total transaction of $568,080.00. Following the completion of the sale, the chief executive officer now owns 35,833 shares of the company’s stock, valued at approximately $4,240,835.55. The trade was a 11.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On PPG Industries

Several hedge funds have recently bought and sold shares of PPG. Park Square Financial Group LLC acquired a new stake in PPG Industries during the 4th quarter worth approximately $26,000. Legend Financial Advisors Inc. bought a new position in PPG Industries during the 4th quarter worth $27,000. Pin Oak Investment Advisors Inc. lifted its holdings in shares of PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 200 shares in the last quarter. Prudent Man Investment Management Inc. acquired a new position in shares of PPG Industries in the fourth quarter valued at about $36,000. Finally, Albion Financial Group UT bought a new position in PPG Industries during the fourth quarter worth about $38,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

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.