PPG Industries Inc. (NYSE:PPG) shares traded -5.28% lower at $123.11 on Wall Street last session.
As we calculate the median target price by taking the range between a high of $155.00 and a low of $104.00, we find $128.00. Given the previous closing price of $129.97, this indicates a potential downside of -1.52 percent. PPG stock price is now -1.81% away from the 50-day moving average and -0.75% away from the 200-day moving average. The market capitalization of the company currently stands at $29.09B.
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Brokers who have rated the stock have averaged $131.26 as their price target over the next twelve months.
With the price target of $127, KeyBanc Capital Markets recently initiated with Overweight rating for PPG Industries Inc. (NYSE: PPG). On October 13, 2022, Goldman recently initiated its ‘Buy’ rating on the stock quoting a target price of $145, while ‘Redburn’ rates the stock as ‘Buy’.
In other news, Liebert Rebecca B., Executive Vice President sold 30,086 shares of the company’s stock on Apr 27. The stock was sold for $3,908,273 at an average price of $129.90. Upon completion of the transaction, the Executive Vice President now directly owns 24,693 shares in the company, valued at $3.04 million. Insiders disposed of 63,766 shares of company stock worth roughly $7.85 million over the past 1 year. A total of 0.27% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PPG stock. A new stake in PPG Industries Inc. shares was purchased by CAPITAL RESEARCH GLOBAL INVESTORS during the first quarter worth $65,591,000. CARTENNA CAPITAL, LP invested $30,778,000 in shares of PPG during the first quarter. In the first quarter, TWINBEECH CAPITAL LP acquired a new stake in PPG Industries Inc. valued at approximately $30,196,000. DUQUESNE FAMILY OFFICE LLC acquired a new stake in PPG for approximately $26,216,000. BALYASNY ASSET MANAGEMENT LLC purchased a new stake in PPG valued at around $24,486,000 in the second quarter. In total, there are 1,253 active investors with 82.50% ownership of the company’s stock.
PPG Industries Inc. (NYSE: PPG) opened at $126.54 on Thursday. During the past 12 months, PPG Industries Inc. has had a low of $107.06 and a high of $177.32. As of last week, the company has a debt-to-equity ratio of 1.13, a current ratio of 1.50, and a quick ratio of 1.00. The fifty day moving average price for PPG is $125.60 and a two-hundred day moving average price translates $124.01 for the stock.
The latest earnings results from PPG Industries Inc. (NYSE: PPG) was released for Sep, 2022. The net profit margin was 6.10% and return on equity was 17.40% for PPG. The company reported revenue of $4.47 billion for the quarter, compared to $4.37 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 2.2 percent. For the current quarter, analysts expect PPG to generate $4.1B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/12/2022. Investors who held shares on 11/10/2022 were paid a $0.62 dividend. On an annualized basis, this represents a $2.48 dividend and a 2.01% percent yield. There was an ex-dividend date of 11/09/2022 for this dividend. In terms of dividend payout ratio, PPG is presently at 52.60%.
PPG Industries Inc.(PPG) Company Profile
PPG Industries, Inc. manufactures and distributes paints, coatings, and specialty materials worldwide. The company’s 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft. It also provides coatings and finishes for the protection of metals and structures, such as metal fabricators, heavy duty maintenance contractors, and manufacturers of ships, bridges, and rail cars; paints, wood stains, adhesives, and purchased sundries for painting and maintenance contractors, and consumers for decoration and maintenance of residential and commercial building structures; and paints, thermoplastics, pavement marking products, and other technologies for pavement marking. The company’s Industrial Coatings segment offers coatings, adhesives and sealants, and metal pretreatments, as well as services and coatings applications for appliances, agricultural and construction equipment, consumer electronics, automotive parts and accessories, building products, kitchenware, and transportation vehicles and other finished products; and on-site coatings services. It also provides coatings for metal cans, closures, plastic tubes, and promotional and specialty packaging; amorphous precipitated silica for tire, battery separator, and other end-uses; TESLIN substrates for labels, e-passports, drivers’ licenses, breathable membranes, and loyalty and identification cards; and organic light emitting diode materials, displays and lighting lens materials, optical lenses, color-change products, and photochromic dyes. The company was incorporated in 1883 and is headquartered in Pittsburgh, Pennsylvania.
