UBS Group Cuts PPG Industries (NYSE:PPG) Price Target to $116.00

PPG Industries (NYSE:PPG) had its price target reduced by UBS Group from $125.00 to $116.00 in a research note issued to investors on Monday,Benzinga reports. UBS Group currently has a neutral rating on the specialty chemicals company’s stock.

PPG has been the subject of several other reports. KeyCorp started coverage on PPG Industries in a research note on Friday, September 11th. They issued an “overweight” rating and a $133.00 price objective for the company. Citigroup decreased their target price on PPG Industries from $121.00 to $118.00 and set a “neutral” rating for the company in a report on Wednesday, September 30th. Wall Street Zen lowered PPG Industries from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Bank of America upgraded shares of PPG Industries from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $127.00 to $134.00 in a research note on Friday, July 17th. Finally, Royal Bank Of Canada cut their price objective on shares of PPG Industries from $129.00 to $122.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 30th. Eight research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $126.06.

PPG Industries Trading Down 1.4%

NYSE PPG opened at $104.99 on Monday. PPG Industries has a 12-month low of $93.39 and a 12-month high of $133.43. The company has a fifty day simple moving average of $110.39 and a two-hundred day simple moving average of $111.60. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. The stock has a market cap of $23.34 billion, a P/E ratio of 15.04, a P/E/G ratio of 1.73 and a beta of 1.06.

PPG Industries (NYSE:PPG) last released its earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.02). PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. The firm had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same period in the previous year, the company earned $2.22 earnings per share. PPG Industries’s revenue was up 7.2% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, analysts forecast that PPG Industries will post 7.89 earnings per share for the current year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Monday, August 10th were issued a dividend of $0.74 per share. This is a positive change from PPG Industries’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Monday, August 10th. This represents a $2.96 annualized dividend and a dividend yield of 2.8%. PPG Industries’s payout ratio is presently 42.41%.

Institutional Investors Weigh In On PPG Industries

A number of institutional investors have recently modified their holdings of the business. Bank of Nova Scotia acquired a new stake in shares of PPG Industries during the 2nd quarter worth approximately $2,850,000. Legal & General Group Plc purchased a new position in shares of PPG Industries during the 2nd quarter worth approximately $169,096,000. Bank of America Corp DE purchased a new stake in PPG Industries in the second quarter valued at approximately $278,965,000. PensionDanmark Pensionsforsikringsaktieselskab lifted its stake in PPG Industries by 38.8% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 46,861 shares of the specialty chemicals company’s stock worth $5,684,000 after purchasing an additional 13,101 shares in the last quarter. Finally, Glenview Trust Co acquired a new stake in shares of PPG Industries in the second quarter valued at $1,931,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Company Profile

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. Founded in 1883 as Pittsburgh Plate Glass, the company originally produced plate glass and later expanded into coatings and related technologies. Today, PPG’s products are used to protect, decorate and improve the performance of vehicles, aircraft, buildings, industrial equipment and consumer goods.

PPG serves the automotive, aerospace, construction, industrial, marine, packaging and consumer-product markets.