PPG Industries (NYSE:PPG – Get Rating) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report released on Monday, The Fly reports.
Other equities analysts also recently issued reports about the company. Morgan Stanley upped their target price on PPG Industries from $120.00 to $140.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 4th. BNP Paribas downgraded PPG Industries from an “outperform” rating to a “neutral” rating and set a $130.00 target price on the stock. in a research report on Monday, January 23rd. Wells Fargo & Company upped their target price on PPG Industries from $124.00 to $143.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 4th. UBS Group upped their target price on PPG Industries from $144.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, January 11th. Finally, KeyCorp upped their price target on shares of PPG Industries from $159.00 to $162.00 and gave the company an “overweight” rating in a report on Tuesday, April 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, PPG Industries currently has a consensus rating of “Hold” and a consensus target price of $141.47.
PPG Industries Stock Performance
Shares of PPG stock opened at $141.98 on Monday. The business’s fifty day simple moving average is $131.99 and its 200-day simple moving average is $127.49. The company has a market cap of $33.42 billion, a PE ratio of 26.49, a PEG ratio of 1.09 and a beta of 1.17. The company has a current ratio of 1.52, a quick ratio of 1.04 and a debt-to-equity ratio of 0.97. PPG Industries has a 12-month low of $107.06 and a 12-month high of $145.14.
Insider Transactions at PPG Industries
In related news, Chairman Michael H. Mcgarry sold 61,867 shares of the company’s stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $129.96, for a total transaction of $8,040,235.32. Following the completion of the transaction, the chairman now owns 183,645 shares in the company, valued at approximately $23,866,504.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Chairman Michael H. Mcgarry sold 61,867 shares of the company’s stock in a transaction dated Tuesday, January 31st. The shares were sold at an average price of $129.96, for a total transaction of $8,040,235.32. Following the completion of the transaction, the chairman now owns 183,645 shares in the company, valued at approximately $23,866,504.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Anne M. Foulkes sold 21,757 shares of the company’s stock in a transaction dated Tuesday, January 24th. The stock was sold at an average price of $128.33, for a total transaction of $2,792,075.81. Following the transaction, the vice president now owns 10,577 shares of the company’s stock, valued at approximately $1,357,346.41. The disclosure for this sale can be found here. Corporate insiders own 0.55% of the company’s stock.
Hedge Funds Weigh In On PPG Industries
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in PPG Industries by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 20,472,227 shares of the specialty chemicals company’s stock valued at $2,266,070,000 after buying an additional 68,359 shares during the period. JPMorgan Chase & Co. boosted its position in PPG Industries by 5.5% in the 4th quarter. JPMorgan Chase & Co. now owns 17,843,159 shares of the specialty chemicals company’s stock valued at $2,243,597,000 after buying an additional 931,097 shares during the period. Geode Capital Management LLC boosted its position in PPG Industries by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 4,748,598 shares of the specialty chemicals company’s stock valued at $595,991,000 after buying an additional 117,868 shares during the period. Moneta Group Investment Advisors LLC boosted its position in PPG Industries by 163,082.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,157,889 shares of the specialty chemicals company’s stock valued at $522,813,000 after buying an additional 4,155,341 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in PPG Industries by 2.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,193,621 shares of the specialty chemicals company’s stock valued at $418,589,000 after buying an additional 65,996 shares during the period. Hedge funds and other institutional investors own 80.04% of the company’s stock.
About PPG Industries
PPG Industries, Inc engages in the manufacture and distribution of paints, coatings, and specialty materials. It operates through the Performance Coatings and Industrial Coatings segments. The Performance Coatings segment supplies a variety of protective and decorative coatings, sealants, and finishes along with pavement marking products, paint strippers, stains, and related chemicals, as well as transparencies and transparent armor.
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