PPG Industries (NYSE:PPG) Price Target Raised to $140.00

PPG Industries (NYSE:PPG) had its target price increased by Mizuho from $125.00 to $140.00 in a report published on Thursday morning,Benzinga reports. They currently have an outperform rating on the specialty chemicals company’s stock.

A number of other equities research analysts have also issued reports on PPG. KeyCorp reissued a “sector weight” rating on shares of PPG Industries in a report on Thursday, January 29th. Citigroup increased their price target on shares of PPG Industries from $127.00 to $132.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Wells Fargo & Company lifted their price target on shares of PPG Industries from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. Evercore lowered their price objective on PPG Industries from $145.00 to $112.00 and set an “in-line” rating for the company in a research report on Tuesday, November 11th. Finally, Sanford C. Bernstein lifted their target price on PPG Industries from $123.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, PPG Industries presently has an average rating of “Hold” and an average price target of $124.79.

PPG Industries Trading Down 0.2%

Shares of PPG stock opened at $131.26 on Thursday. PPG Industries has a fifty-two week low of $90.24 and a fifty-two week high of $133.43. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.47. The stock’s fifty day moving average is $110.40 and its two-hundred day moving average is $106.31. The firm has a market capitalization of $29.45 billion, a P/E ratio of 18.91, a PEG ratio of 1.97 and a beta of 1.16.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, January 27th. The specialty chemicals company reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.06). PPG Industries had a net margin of 9.93% and a return on equity of 22.67%. The business had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter last year, the company earned $1.61 earnings per share. PPG Industries’s quarterly revenue was up 5.0% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Research analysts expect that PPG Industries will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 20th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, February 20th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.2%. PPG Industries’s payout ratio is presently 40.92%.

Insider Buying and Selling at PPG Industries

In related news, CFO Vincent J. Morales sold 29,672 shares of PPG Industries stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $125.00, for a total value of $3,709,000.00. Following the completion of the transaction, the chief financial officer owned 28,439 shares in the company, valued at approximately $3,554,875. The trade was a 51.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Chancey E. Hagerty sold 2,250 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $115.59, for a total transaction of $260,077.50. Following the sale, the vice president directly owned 8,477 shares in the company, valued at approximately $979,856.43. The trade was a 20.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 37,122 shares of company stock worth $4,541,078 in the last quarter. Company insiders own 0.33% of the company’s stock.

Institutional Trading of PPG Industries

A number of large investors have recently modified their holdings of PPG. Pzena Investment Management LLC grew its stake in PPG Industries by 306.2% during the 4th quarter. Pzena Investment Management LLC now owns 7,098,767 shares of the specialty chemicals company’s stock worth $727,340,000 after purchasing an additional 5,351,103 shares in the last quarter. Norges Bank acquired a new position in shares of PPG Industries during the second quarter worth about $362,412,000. Wellington Management Group LLP increased its stake in shares of PPG Industries by 19.9% during the third quarter. Wellington Management Group LLP now owns 15,159,770 shares of the specialty chemicals company’s stock worth $1,593,443,000 after buying an additional 2,521,004 shares during the period. Franklin Resources Inc. increased its stake in shares of PPG Industries by 48.9% during the fourth quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company’s stock worth $716,256,000 after buying an additional 2,295,118 shares during the period. Finally, Holocene Advisors LP raised its holdings in PPG Industries by 342.8% in the second quarter. Holocene Advisors LP now owns 1,688,870 shares of the specialty chemicals company’s stock valued at $192,109,000 after acquiring an additional 1,307,468 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

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.