Analysts Set PPG Industries, Inc. (NYSE:PPG) Price Target at $124.79

Shares of PPG Industries, Inc. (NYSE:PPG) have received an average recommendation of “Hold” from the nineteen analysts that are currently covering the company, Marketbeat.com reports. Eleven research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $125.9286.

PPG has been the topic of several recent analyst reports. KeyCorp reissued a “sector weight” rating on shares of PPG Industries in a research note on Thursday, January 29th. The Goldman Sachs Group increased their price objective on PPG Industries from $118.00 to $132.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. UBS Group lifted their price objective on PPG Industries from $110.00 to $122.00 and gave the stock a “neutral” rating in a research report on Thursday, January 29th. Citigroup upped their target price on PPG Industries from $127.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Finally, Royal Bank Of Canada lifted their price target 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.

Insider Transactions at PPG Industries

In other PPG Industries news, CFO Vincent J. Morales sold 78,095 shares of the firm’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $131.00, for a total value of $10,230,445.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Chancey E. Hagerty sold 2,250 shares of PPG Industries 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 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 SEC filing for this sale provides additional information. Over the last three months, insiders sold 115,217 shares of company stock valued at $14,771,523. 0.33% of the stock is owned by insiders.

Institutional Investors Weigh In On PPG Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pzena Investment Management LLC grew its position in shares of PPG Industries by 306.2% in the 4th quarter. Pzena Investment Management LLC now owns 7,098,767 shares of the specialty chemicals company’s stock worth $727,340,000 after buying an additional 5,351,103 shares during the period. Norges Bank bought a new stake in PPG Industries during the second quarter worth about $362,412,000. Wellington Management Group LLP grew its holdings 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 worth $1,593,443,000 after purchasing an additional 2,521,004 shares during the period. Franklin Resources Inc. increased its stake 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 purchasing an additional 2,295,118 shares in the last quarter. Finally, Holocene Advisors LP lifted its holdings in shares of PPG Industries by 342.8% during the second quarter. Holocene Advisors LP now owns 1,688,870 shares of the specialty chemicals company’s stock valued at $192,109,000 after purchasing an additional 1,307,468 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Performance

Shares of PPG stock opened at $126.57 on Thursday. The company has a market capitalization of $28.40 billion, a P/E ratio of 18.24, a PEG ratio of 1.90 and a beta of 1.16. PPG Industries has a fifty-two week low of $90.24 and a fifty-two week high of $133.43. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.47. The stock has a 50 day moving average price of $113.06 and a two-hundred day moving average price of $107.09.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, January 27th. The specialty chemicals company reported $1.51 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.06). PPG Industries had a return on equity of 22.67% and a net margin of 9.93%.The firm had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the previous year, the firm earned $1.61 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Analysts expect that PPG Industries will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently announced 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 payout ratio is presently 40.92%.

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.