PPG Industries (NYSE:PPG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of PPG Industries (NYSE:PPG) from a hold rating to a buy rating in a research report report published on Saturday.

Other research analysts have also recently issued reports about the company. Wells Fargo & Company lowered their price objective on PPG Industries from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday, April 10th. UBS Group raised their target price on PPG Industries from $110.00 to $116.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. The Goldman Sachs Group decreased their target price on PPG Industries from $134.00 to $130.00 in a research note on Friday, May 1st. Mizuho upped their price target on PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Finally, BNP Paribas Exane increased their price target on shares of PPG Industries from $115.00 to $116.00 in a research note on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $126.13.

PPG Industries Trading Down 1.4%

NYSE PPG opened at $115.71 on Friday. PPG Industries has a 52 week low of $93.39 and a 52 week high of $133.43. The firm has a 50 day moving average of $114.94 and a two-hundred day moving average of $113.01. The stock has a market capitalization of $25.79 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 1.71 and a beta of 1.05. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 0.78.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.05. The firm had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.85 billion. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The company’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.72 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, research analysts expect that PPG Industries will post 7.94 EPS for the current fiscal year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from PPG Industries’s previous quarterly dividend of $0.71. The ex-dividend date is Monday, August 10th. PPG Industries’s payout ratio is presently 40.51%.

Institutional Trading of PPG Industries

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