PPG Industries (NYSE:PPG) Cut to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of PPG Industries (NYSE:PPG) from an overweight rating to a neutral rating in a research note published on Wednesday, Marketbeat Ratings reports. The brokerage currently has $115.00 price target on the specialty chemicals company’s stock, down from their previous price target of $145.00.

Other equities analysts also recently issued reports about the stock. Citigroup lowered their price objective on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Mizuho lowered their price target on PPG Industries from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. The Goldman Sachs Group cut their price objective on PPG Industries from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, February 6th. BMO Capital Markets restated an “outperform” rating and set a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Finally, KeyCorp lowered PPG Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 16th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $138.15.

PPG Industries Stock Down 0.1 %

Shares of NYSE:PPG opened at $114.77 on Wednesday. The stock has a market capitalization of $26.63 billion, a P/E ratio of 24.26, a price-to-earnings-growth ratio of 1.97 and a beta of 1.23. The stock’s 50-day moving average price is $119.57 and its 200-day moving average price is $123.64. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries has a 12-month low of $110.20 and a 12-month high of $145.60.

PPG Industries (NYSE:PPG) last announced 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%. On average, equities analysts anticipate that PPG Industries will post 7.96 earnings per share for the current 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 given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, February 21st. PPG Industries’s dividend payout ratio is presently 57.51%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. CWM LLC lifted its holdings in shares of PPG Industries by 24.7% during the third quarter. CWM LLC now owns 11,886 shares of the specialty chemicals company’s stock valued at $1,574,000 after purchasing an additional 2,351 shares during the last quarter. Ritholtz Wealth Management bought a new position in PPG Industries during the 3rd quarter valued at approximately $604,000. Exchange Traded Concepts LLC raised its stake in PPG Industries by 156.1% during the third quarter. Exchange Traded Concepts LLC now owns 1,160 shares of the specialty chemicals company’s stock valued at $154,000 after buying an additional 707 shares during the last quarter. Koshinski Asset Management Inc. bought a new stake in PPG Industries in the third quarter worth $352,000. Finally, Vontobel Holding Ltd. grew its stake in shares of PPG Industries by 7.1% in the third quarter. Vontobel Holding Ltd. now owns 3,426 shares of the specialty chemicals company’s stock worth $454,000 after acquiring an additional 227 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

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.