PPG Industries (NYSE:PPG) Given New $140.00 Price Target at Mizuho

PPG Industries (NYSE:PPG) had its price target hoisted by Mizuho from $125.00 to $140.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the specialty chemicals company’s stock.

Several other research analysts also recently issued reports on the company. Jefferies Financial Group lifted their price objective on PPG Industries from $115.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, January 29th. BNP Paribas Exane cut 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. UBS Group increased their price objective on PPG Industries from $110.00 to $122.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Evercore dropped their price objective on PPG Industries from $145.00 to $112.00 and set an “in-line” rating for the company in a research report on Tuesday, November 11th. Finally, Royal Bank Of Canada upped their target price on shares of PPG Industries from $109.00 to $115.00 and gave the company a “sector perform” rating in a report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, PPG Industries has an average rating of “Hold” and an average price target of $124.79.

PPG Industries Price Performance

PPG Industries stock opened at $131.34 on Thursday. The firm has a market capitalization of $29.47 billion, a PE ratio of 18.92, a P/E/G ratio of 1.97 and a beta of 1.16. PPG Industries has a 52 week low of $90.24 and a 52 week high of $133.43. The firm’s 50-day simple moving average is $109.80 and its 200 day simple moving average is $106.23. 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 announced its earnings results on Tuesday, January 27th. The specialty chemicals company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.06). PPG Industries had a return on equity of 22.67% and a net margin of 9.93%.The business had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the firm posted $1.61 EPS. The business’s revenue was up 5.0% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, equities research analysts predict that PPG Industries will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 20th will be paid a dividend of $0.71 per share. 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 2.2%. PPG Industries’s dividend payout ratio is currently 40.92%.

Insider Activity at PPG Industries

In related news, VP Chancey E. Hagerty sold 2,250 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the vice president directly owned 8,477 shares in the company, valued at approximately $979,856.43. The trade was a 20.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vincent J. Morales sold 29,672 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $125.00, for a total transaction of $3,709,000.00. Following the transaction, the chief financial officer directly owned 28,439 shares in the company, valued at approximately $3,554,875. This represents a 51.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 37,122 shares of company stock worth $4,541,078 over the last three months. Corporate insiders own 0.33% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PPG. Walnut Level Capital LLC boosted its holdings in PPG Industries by 46.8% in the second quarter. Walnut Level Capital LLC now owns 62,754 shares of the specialty chemicals company’s stock worth $7,138,000 after purchasing an additional 20,000 shares during the period. GAM Holding AG boosted its holdings in shares of PPG Industries by 97.5% in the 3rd quarter. GAM Holding AG now owns 21,281 shares of the specialty chemicals company’s stock valued at $2,237,000 after buying an additional 10,508 shares during the period. Empower Advisory Group LLC grew its position in shares of PPG Industries by 9.3% during the 2nd quarter. Empower Advisory Group LLC now owns 77,252 shares of the specialty chemicals company’s stock valued at $8,787,000 after buying an additional 6,559 shares during the last quarter. Rakuten Investment Management Inc. bought a new stake in shares of PPG Industries during the 3rd quarter valued at about $16,245,000. Finally, Strs Ohio lifted its holdings in PPG Industries by 30.1% in the third quarter. Strs Ohio now owns 125,434 shares of the specialty chemicals company’s stock worth $13,184,000 after acquiring an additional 29,031 shares during the last quarter. Institutional investors and hedge funds 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.