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

Shares of PPG Industries, Inc. (NYSE:PPG) have been given a consensus rating of “Hold” by the eighteen analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $120.8571.

A number of research firms recently issued reports on PPG. Evercore ISI decreased their price target on shares of PPG Industries from $145.00 to $112.00 and set an “in-line” rating for the company in a research note on Tuesday, November 11th. UBS Group reduced their target price on PPG Industries from $115.00 to $110.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Zacks Research lowered PPG Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, November 10th. Mizuho dropped their price target on PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. Finally, Sanford C. Bernstein reduced their price target on PPG Industries from $129.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, November 24th.

PPG Industries Stock Performance

Shares of PPG stock opened at $112.20 on Friday. The firm has a market capitalization of $25.18 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 3.32 and a beta of 1.17. The stock has a fifty day moving average of $103.33 and a 200 day moving average of $105.64. PPG Industries has a 52 week low of $90.24 and a 52 week high of $124.74. The company has a quick ratio of 1.08, a current ratio of 1.47 and a debt-to-equity ratio of 0.74.

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

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 20th will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, February 20th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.5%. PPG Industries’s dividend payout ratio is currently 64.40%.

Insider Activity

In related news, CFO Vincent J. Morales sold 5,200 shares of PPG Industries stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $110.00, for a total transaction of $572,000.00. Following the completion of the transaction, the chief financial officer directly owned 28,439 shares of the company’s stock, valued at $3,128,290. This trade represents a 15.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PPG Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of PPG Industries by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 29,265,369 shares of the specialty chemicals company’s stock worth $3,328,936,000 after purchasing an additional 192,560 shares in the last quarter. Wellington Management Group LLP raised its stake in PPG Industries by 19.9% during the third quarter. Wellington Management Group LLP now owns 15,159,770 shares of the specialty chemicals company’s stock valued at $1,593,443,000 after buying an additional 2,521,004 shares during the last quarter. State Street Corp boosted its holdings in PPG Industries by 6.3% in the second quarter. State Street Corp now owns 12,624,828 shares of the specialty chemicals company’s stock worth $1,436,074,000 after acquiring an additional 749,081 shares in the last quarter. First Eagle Investment Management LLC grew its stake in shares of PPG Industries by 12.7% in the third quarter. First Eagle Investment Management LLC now owns 6,263,829 shares of the specialty chemicals company’s stock worth $658,391,000 after acquiring an additional 703,549 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of PPG Industries by 39.4% during the third quarter. Franklin Resources Inc. now owns 4,695,477 shares of the specialty chemicals company’s stock valued at $493,542,000 after acquiring an additional 1,326,619 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Company Profile

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.