Brokerages Set PPG Industries, Inc. (NYSE:PPG) Target Price at $123.00

PPG Industries, Inc. (NYSE:PPG) has earned a consensus rating of “Hold” from the seventeen research firms that are currently covering the stock, Marketbeat reports. Eleven research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $123.7333.

Several research firms recently weighed in on PPG. Mizuho increased their target price on shares of PPG Industries from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. The Goldman Sachs Group reduced their target price on shares of PPG Industries from $134.00 to $130.00 in a research note on Friday, May 1st. BNP Paribas Exane increased their target price on shares of PPG Industries from $115.00 to $116.00 in a research note on Thursday, April 30th. Jefferies Financial Group reduced their target price on shares of PPG Industries from $125.00 to $116.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $119.00 target price on shares of PPG Industries in a research note on Wednesday, June 10th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PPG. Brighton Jones LLC raised its position 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 worth $487,000 after purchasing an additional 339 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in PPG Industries by 31.4% in the first quarter. Integrated Wealth Concepts LLC now owns 3,849 shares of the specialty chemicals company’s stock worth $421,000 after purchasing an additional 920 shares in the last quarter. Empowered Funds LLC raised its position in PPG Industries by 6.1% in the first quarter. Empowered Funds LLC now owns 26,354 shares of the specialty chemicals company’s stock worth $2,882,000 after purchasing an additional 1,526 shares in the last quarter. Woodline Partners LP raised its position in PPG Industries by 40.7% in the first quarter. Woodline Partners LP now owns 19,600 shares of the specialty chemicals company’s stock worth $2,143,000 after purchasing an additional 5,667 shares in the last quarter. Finally, Cresset Asset Management LLC raised its position in PPG Industries by 6.2% in the second quarter. Cresset Asset Management LLC now owns 6,346 shares of the specialty chemicals company’s stock worth $722,000 after purchasing an additional 371 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Up 0.3%

NYSE PPG opened at $121.23 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.17 and a current ratio of 1.61. The firm has a 50-day simple moving average of $112.41 and a 200 day simple moving average of $111.52. PPG Industries has a twelve month low of $93.39 and a twelve month high of $133.43. The stock has a market cap of $27.02 billion, a PE ratio of 17.29, a PEG ratio of 1.77 and a beta of 1.06.

PPG Industries (NYSE:PPG) last released its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.05. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The business had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.85 billion. During the same quarter last year, the company earned $1.72 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, research analysts forecast that PPG Industries will post 7.92 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, May 11th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Monday, May 11th. PPG Industries’s dividend payout ratio is 40.51%.

About PPG Industries

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.