PPG Industries, Inc. (NYSE:PPG) Receives Average Rating of “Hold” from Brokerages

PPG Industries, Inc. (NYSE:PPG) has received an average rating of “Hold” from the eighteen analysts that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $123.5833.

Several research analysts have recently commented on PPG shares. UBS Group decreased their price objective on PPG Industries from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Bank of America decreased their target price on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Citigroup lowered their price target on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, October 6th. Wells Fargo & Company reduced their price objective on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Finally, Mizuho decreased their price objective on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd.

Institutional Investors Weigh In On PPG Industries

Institutional investors have recently added to or reduced their stakes in the stock. Meridian Wealth Management LLC increased its position in PPG Industries by 311.2% in the first quarter. Meridian Wealth Management LLC now owns 7,665 shares of the specialty chemicals company’s stock worth $838,000 after purchasing an additional 5,801 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of PPG Industries by 10.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 494,482 shares of the specialty chemicals company’s stock worth $54,060,000 after buying an additional 48,177 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of PPG Industries by 3.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,734,270 shares of the specialty chemicals company’s stock worth $298,992,000 after buying an additional 85,891 shares in the last quarter. Avior Wealth Management LLC increased its holdings in shares of PPG Industries by 8,828.7% in the 2nd quarter. Avior Wealth Management LLC now owns 8,393 shares of the specialty chemicals company’s stock worth $955,000 after buying an additional 8,299 shares during the last quarter. Finally, Jump Financial LLC raised its position in shares of PPG Industries by 1,478.5% during the 1st quarter. Jump Financial LLC now owns 88,587 shares of the specialty chemicals company’s stock valued at $9,687,000 after buying an additional 82,975 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Up 0.4%

PPG stock opened at $101.06 on Friday. The company has a market cap of $22.68 billion, a price-to-earnings ratio of 22.92, a P/E/G ratio of 2.76 and a beta of 1.16. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.47. The business’s 50-day moving average is $99.79 and its two-hundred day moving average is $107.40. PPG Industries has a fifty-two week low of $90.24 and a fifty-two week high of $130.05.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.04. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.06 billion. PPG Industries had a net margin of 6.35% and a return on equity of 23.61%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.13 earnings per share. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. As a group, analysts forecast that PPG Industries will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, November 10th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.8%. PPG Industries’s dividend payout ratio is 64.40%.

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.