PPG Industries (NYSE:PPG) Lowered to “Hold” Rating by KeyCorp

PPG Industries (NYSE:PPG) was downgraded by investment analysts at KeyCorp from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

A number of other analysts have also recently issued reports on PPG. Mizuho decreased their target price on PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Royal Bank of Canada decreased their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research note on Tuesday, October 22nd. Citigroup cut their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday. StockNews.com raised shares of PPG Industries from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $149.29.

PPG Industries Trading Down 1.3 %

PPG traded down $1.57 during midday trading on Monday, hitting $119.68. The company’s stock had a trading volume of 536,236 shares, compared to its average volume of 1,618,294. PPG Industries has a 52-week low of $118.07 and a 52-week high of $150.82. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $125.30 and a two-hundred day moving average price of $126.37. The firm has a market cap of $27.77 billion, a P/E ratio of 18.97, a PEG ratio of 1.90 and a beta of 1.24.

PPG Industries (NYSE:PPG) last issued its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The firm had revenue of $4.58 billion during the quarter, compared to analysts’ expectations of $4.66 billion. During the same period last year, the business posted $2.07 earnings per share. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, research analysts anticipate that PPG Industries will post 8.18 earnings per share for the current year.

Insider Buying and Selling at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the completion of the transaction, the vice president now directly owns 13,454 shares of the company’s stock, valued at $1,692,513.20. This trade represents a 12.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is owned by insiders.

Hedge Funds Weigh In On PPG Industries

Large investors have recently modified their holdings of the stock. Financial Connections Group Inc. acquired a new stake in shares of PPG Industries during the 2nd quarter valued at approximately $25,000. Pin Oak Investment Advisors Inc. grew its position in shares of PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 200 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in PPG Industries during the third quarter worth about $34,000. Rothschild Investment LLC bought a new position in PPG Industries in the second quarter worth about $37,000. Finally, Hara Capital LLC bought a new position in shares of PPG Industries during the third quarter valued at approximately $40,000. Institutional investors own 81.86% of the company’s stock.

PPG Industries Company Profile

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.