Brokerages Set PPG Industries, Inc. (NYSE:PPG) Price Target at $124.30

Shares of PPG Industries, Inc. (NYSE:PPG) have earned a consensus rating of “Hold” from the seventeen analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $123.1818.

PPG has been the topic of several analyst reports. Evercore ISI lowered their target price on PPG Industries from $145.00 to $112.00 and set an “in-line” rating on the stock in a research report on Tuesday. Zacks Research cut shares of PPG Industries from a “hold” rating to a “strong sell” rating in a research note on Monday. Weiss Ratings reiterated a “hold (c-)” rating on shares of PPG Industries in a research report on Friday, October 31st. JPMorgan Chase & Co. upgraded shares of PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 price target on the stock in a research report on Thursday, October 16th. Finally, Bank of America decreased their price objective on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th.

PPG Industries Stock Up 0.7%

NYSE:PPG opened at $98.14 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.47. The stock has a 50-day simple moving average of $102.97 and a 200 day simple moving average of $108.67. PPG Industries has a one year low of $90.24 and a one year high of $130.05. The company has a market capitalization of $22.02 billion, a price-to-earnings ratio of 22.25, a price-to-earnings-growth ratio of 2.13 and a beta of 1.19.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.04. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.06 billion. PPG Industries had a return on equity of 24.17% and a net margin of 6.35%.The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.13 EPS. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Sell-side analysts predict that PPG Industries will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, November 10th will be given a dividend of $0.71 per share. The ex-dividend date is Monday, November 10th. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. PPG Industries’s dividend payout ratio (DPR) is 64.40%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Capital Advisors Ltd. LLC grew its holdings in PPG Industries by 127.6% during the second quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 125 shares during the period. Cheviot Value Management LLC bought a new position in shares of PPG Industries during the 1st quarter valued at about $26,000. Steigerwald Gordon & Koch Inc. acquired a new position in shares of PPG Industries in the 3rd quarter worth approximately $26,000. Headlands Technologies LLC bought a new stake in shares of PPG Industries in the 1st quarter worth approximately $30,000. Finally, Root Financial Partners LLC acquired a new stake in PPG Industries during the third quarter valued at approximately $30,000. Institutional investors own 81.86% of the company’s stock.

About PPG Industries

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.