Citigroup Cuts PPG Industries (NYSE:PPG) Price Target to $118.00

PPG Industries (NYSE:PPG) had its target price reduced by Citigroup from $121.00 to $118.00 in a research note issued to investors on Wednesday morning. They currently have a neutral rating on the specialty chemicals company’s stock.

A number of other equities analysts also recently issued reports on PPG. Mizuho increased their price target on PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $136.00 target price on shares of PPG Industries in a research note on Thursday, September 24th. UBS Group decreased their target price on PPG Industries from $130.00 to $125.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Wall Street Zen cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, BMO Capital Markets cut their price target on shares of PPG Industries from $140.00 to $138.00 and set an “outperform” rating for the company in a report on Monday, July 6th. Eight equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $126.62.

PPG Industries Stock Performance

Shares of NYSE PPG opened at $105.18 on Wednesday. The company has a market capitalization of $23.38 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 1.70 and a beta of 1.06. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.58. The company’s fifty day moving average price is $111.04 and its 200 day moving average price is $111.45. PPG Industries has a 1 year low of $93.39 and a 1 year high of $133.43.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.02). PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.The firm had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same quarter last year, the company posted $2.22 EPS. The company’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, research analysts predict that PPG Industries will post 7.89 earnings per share for the current year.

PPG Industries Increases Dividend

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

Institutional Trading of PPG Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. QRG Capital Management Inc. grew its stake in shares of PPG Industries by 9.2% in the second quarter. QRG Capital Management Inc. now owns 20,147 shares of the specialty chemicals company’s stock worth $2,444,000 after acquiring an additional 1,695 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of PPG Industries by 6.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,012 shares of the specialty chemicals company’s stock valued at $244,000 after acquiring an additional 114 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in PPG Industries by 2.8% in the second quarter. Envestnet Asset Management Inc. now owns 251,590 shares of the specialty chemicals company’s stock valued at $30,515,000 after purchasing an additional 6,928 shares during the period. State Street Corp grew its stake in PPG Industries by 8.8% during the 2nd quarter. State Street Corp now owns 13,871,116 shares of the specialty chemicals company’s stock worth $1,682,428,000 after purchasing an additional 1,124,109 shares in the last quarter. Finally, Archford Capital Strategies LLC purchased a new position in shares of PPG Industries in the 2nd quarter valued at about $208,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

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.