PPG Industries (NYSE:PPG) Rating Increased to Buy at Bank of America

Bank of America upgraded shares of PPG Industries (NYSE:PPG) from a neutral rating to a buy rating in a report issued on Friday, Marketbeat reports. They currently have $134.00 target price on the specialty chemicals company’s stock, up from their prior target price of $127.00.

PPG has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of PPG Industries from $120.00 to $130.00 in a research note on Friday, March 27th. UBS Group increased their price objective on PPG Industries from $110.00 to $116.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. BMO Capital Markets cut their price target on PPG Industries from $140.00 to $138.00 and set an “outperform” rating for the company in a research note on Monday, July 6th. Weiss Ratings raised PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Finally, Royal Bank Of Canada lifted their price objective on shares of PPG Industries from $119.00 to $129.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 8th. Seven analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, PPG Industries presently has a consensus rating of “Hold” and a consensus price target of $126.13.

PPG Industries Stock Down 1.1%

PPG Industries stock opened at $117.39 on Friday. PPG Industries has a fifty-two week low of $93.39 and a fifty-two week high of $133.43. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.17 and a current ratio of 1.61. The company has a market capitalization of $26.17 billion, a P/E ratio of 16.75, a PEG ratio of 1.73 and a beta of 1.05. The stock has a 50-day simple moving average of $114.79 and a 200-day simple moving average of $112.87.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.05. The business had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.85 billion. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.The company’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.72 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Equities research analysts expect that PPG Industries will post 7.92 earnings per share for the current year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 10th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 2.5%. This is an increase from PPG Industries’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, August 10th. PPG Industries’s dividend payout ratio is 40.51%.

Hedge Funds Weigh In On PPG Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC grew its stake in PPG Industries by 9.1% in the 4th quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock valued at $487,000 after acquiring an additional 339 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in PPG Industries by 31.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,849 shares of the specialty chemicals company’s stock worth $421,000 after purchasing an additional 920 shares in the last quarter. Empowered Funds LLC lifted its holdings in PPG Industries by 6.1% in the 1st quarter. Empowered Funds LLC now owns 26,354 shares of the specialty chemicals company’s stock valued at $2,882,000 after purchasing an additional 1,526 shares in the last quarter. Woodline Partners LP grew its holdings in shares of PPG Industries by 40.7% during the first quarter. Woodline Partners LP now owns 19,600 shares of the specialty chemicals company’s stock worth $2,143,000 after buying an additional 5,667 shares in the last quarter. Finally, Cresset Asset Management LLC raised its position in shares of PPG Industries by 6.2% in the second quarter. Cresset Asset Management LLC now owns 6,346 shares of the specialty chemicals company’s stock valued at $722,000 after buying an additional 371 shares during 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.