PPG Industries (NYSE:PPG) Price Target Lowered to $114.00 at Royal Bank Of Canada

PPG Industries (NYSE:PPG) had its price target decreased by Royal Bank Of Canada from $115.00 to $114.00 in a research report released on Thursday,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the specialty chemicals company’s stock.

A number of other analysts have also issued reports on the company. BNP Paribas Exane lowered their price target on PPG Industries from $113.00 to $112.00 and set a “neutral” rating for the company in a report on Wednesday, January 14th. Wells Fargo & Company raised their price target on shares of PPG Industries from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, January 29th. JPMorgan Chase & Co. boosted their target price on PPG Industries from $117.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, January 29th. Berenberg Bank cut their price target on shares of PPG Industries from $131.00 to $110.00 and set a “hold” rating on the stock in a research note on Thursday, December 4th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of PPG Industries in a report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $125.86.

PPG Industries Price Performance

NYSE:PPG opened at $98.22 on Thursday. The stock has a market cap of $21.98 billion, a PE ratio of 14.15, a P/E/G ratio of 1.52 and a beta of 1.15. The company has a quick ratio of 1.22, a current ratio of 1.62 and a debt-to-equity ratio of 0.82. PPG Industries has a 52 week low of $90.24 and a 52 week high of $133.43. The business’s 50-day simple moving average is $116.05 and its two-hundred day simple moving average is $107.25.

PPG Industries (NYSE:PPG) last posted its earnings results on Tuesday, January 27th. The specialty chemicals company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.06). The business had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.77 billion. PPG Industries had a net margin of 9.93% and a return on equity of 22.30%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the business posted $1.61 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, analysts forecast that PPG Industries will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Friday, February 20th were given a dividend of $0.71 per share. The ex-dividend date was Friday, February 20th. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. PPG Industries’s dividend payout ratio is currently 40.92%.

Insider Activity

In related news, VP Chancey E. Hagerty sold 2,250 shares of PPG Industries stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $115.59, for a total value of $260,077.50. Following the sale, the vice president owned 8,477 shares of the company’s stock, valued at approximately $979,856.43. This trade represents a 20.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Anne M. Foulkes sold 3,594 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $124.61, for a total transaction of $447,848.34. Following the completion of the sale, the vice president directly owned 15,641 shares of the company’s stock, valued at approximately $1,949,025.01. The trade was a 18.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 118,811 shares of company stock worth $15,219,371 over the last three months. 0.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PPG Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dorato Capital Management acquired a new position in shares of PPG Industries during the 4th quarter worth about $26,000. Quarry LP acquired a new stake in PPG Industries in the 3rd quarter worth about $26,000. Steigerwald Gordon & Koch Inc. acquired a new stake in PPG Industries in the 3rd quarter worth about $26,000. Resources Management Corp CT ADV increased its stake in PPG Industries by 900.0% during the 4th quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 225 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC raised its holdings in shares of PPG Industries by 100.7% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 273 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 137 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 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.