PPG Industries (NYSE:PPG) Given New $115.00 Price Target at Mizuho

PPG Industries (NYSE:PPG) had its price target lowered by Mizuho from $140.00 to $115.00 in a research note released on Monday,Benzinga reports. The firm currently has an outperform rating on the specialty chemicals company’s stock.

PPG has been the subject of several other research reports. KeyCorp restated a “sector weight” rating on shares of PPG Industries in a research report on Thursday, January 29th. Royal Bank Of Canada reduced their price target on PPG Industries from $115.00 to $114.00 and set a “sector perform” rating on the stock in a report on Thursday, March 19th. Evercore raised their price target on PPG Industries from $112.00 to $128.00 in a research note on Wednesday, February 18th. Berenberg Bank dropped their price objective on PPG Industries from $131.00 to $110.00 and set a “hold” rating for the company in a report on Thursday, December 4th. Finally, UBS Group upped their price objective on PPG Industries from $110.00 to $122.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $124.07.

PPG Industries Trading Up 5.2%

PPG stock opened at $102.25 on Monday. PPG Industries has a twelve month low of $90.24 and a twelve month high of $133.43. The stock has a market capitalization of $22.88 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 1.47 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. The firm’s fifty day simple moving average is $115.73 and its two-hundred day simple moving average is $107.08.

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

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Friday, February 20th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Friday, February 20th. PPG Industries’s dividend payout ratio is 40.92%.

Insider Activity at PPG Industries

In other news, VP Chancey E. Hagerty sold 2,250 shares of the firm’s stock in a transaction dated 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 directly owned 8,477 shares in the company, valued at approximately $979,856.43. This trade represents a 20.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Anne M. Foulkes sold 3,594 shares of PPG Industries stock in a transaction that occurred 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 transaction, the vice president directly owned 15,641 shares in the company, valued at approximately $1,949,025.01. The trade was a 18.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 118,811 shares of company stock valued at $15,219,371 over the last quarter. 0.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PPG Industries

Large investors have recently made changes to their positions in the business. Wellington Management Group LLP raised its stake in PPG Industries by 19.9% in 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 4.6% in the fourth quarter. State Street Corp now owns 12,829,677 shares of the specialty chemicals company’s stock worth $1,314,529,000 after acquiring an additional 565,523 shares in the last quarter. Pzena Investment Management LLC grew its stake in shares of PPG Industries by 306.2% during the fourth quarter. Pzena Investment Management LLC now owns 7,098,767 shares of the specialty chemicals company’s stock worth $727,340,000 after acquiring an additional 5,351,103 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of PPG Industries by 48.9% during the fourth quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company’s stock valued at $716,256,000 after acquiring an additional 2,295,118 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in shares of PPG Industries by 0.4% during the fourth quarter. First Eagle Investment Management LLC now owns 6,290,622 shares of the specialty chemicals company’s stock valued at $644,537,000 after acquiring an additional 26,793 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

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.