PPG Industries, Inc. (NYSE:PPG) Receives $122.54 Consensus Price Target from Analysts

Shares of PPG Industries, Inc. (NYSE:PPG) have earned an average recommendation of “Hold” from the eighteen ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $122.5385.

Several analysts have weighed in on the company. Berenberg Bank lowered their target price on PPG Industries from $131.00 to $110.00 and set a “hold” rating on the stock in a report on Thursday, December 4th. Wells Fargo & Company dropped their target price on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Bank of America reduced their price target on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Weiss Ratings reissued a “hold (c-)” rating on shares of PPG Industries in a research note on Friday, October 31st. Finally, Evercore ISI cut 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.

PPG Industries Trading Up 1.8%

Shares of PPG Industries stock opened at $104.25 on Wednesday. The company has a 50-day moving average of $100.08 and a two-hundred day moving average of $106.22. PPG Industries has a 12-month low of $90.24 and a 12-month high of $124.74. The company has a current ratio of 1.47, a quick ratio of 1.08 and a debt-to-equity ratio of 0.74. The stock has a market cap of $23.39 billion, a PE ratio of 23.64, a price-to-earnings-growth ratio of 2.66 and a beta of 1.17.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.04. PPG Industries had a return on equity of 23.61% and a net margin of 6.35%.The business had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the prior year, the firm posted $2.13 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. On average, research analysts anticipate that PPG Industries will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Monday, November 10th were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.7%. PPG Industries’s dividend payout ratio (DPR) is presently 64.40%.

Institutional Investors Weigh In On PPG Industries

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC grew its stake in PPG Industries by 6.6% in the 2nd quarter. Lazard Asset Management LLC now owns 1,576 shares of the specialty chemicals company’s stock worth $179,000 after acquiring an additional 97 shares during the period. Bell Investment Advisors Inc grew its position in shares of PPG Industries by 40.9% in the first quarter. Bell Investment Advisors Inc now owns 355 shares of the specialty chemicals company’s stock valued at $39,000 after purchasing an additional 103 shares during the period. G&S Capital LLC increased its stake in PPG Industries by 1.9% in the third quarter. G&S Capital LLC now owns 5,620 shares of the specialty chemicals company’s stock valued at $591,000 after purchasing an additional 104 shares during the last quarter. Columbia Bank lifted its position in PPG Industries by 1.0% during the third quarter. Columbia Bank now owns 10,951 shares of the specialty chemicals company’s stock worth $1,090,000 after buying an additional 106 shares during the period. Finally, Citizens Financial Group Inc. RI boosted its stake in PPG Industries by 0.5% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 22,716 shares of the specialty chemicals company’s stock worth $2,584,000 after buying an additional 107 shares during the last quarter. 81.86% of the stock is currently 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.