PPG Industries (NYSE:PPG) Given New $138.00 Price Target at BMO Capital Markets

PPG Industries (NYSE:PPG) had its price target trimmed by BMO Capital Markets from $140.00 to $138.00 in a report released on Monday,Benzinga reports. The brokerage currently has an outperform rating on the specialty chemicals company’s stock.

PPG has been the subject of several other reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of PPG Industries from $120.00 to $130.00 in a research note on Friday, March 27th. Weiss Ratings upgraded shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. UBS Group boosted their price objective on shares of PPG Industries from $110.00 to $116.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Citigroup upped their target price on PPG Industries from $114.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, June 24th. Finally, Wells Fargo & Company lowered their price target on PPG Industries from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday, April 10th. Six research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $124.27.

PPG Industries Stock Performance

Shares of NYSE:PPG opened at $123.62 on Monday. The firm has a 50 day moving average of $113.12 and a 200 day moving average of $111.96. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $27.55 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 1.83 and a beta of 1.05. PPG Industries has a 52 week low of $93.39 and a 52 week high of $133.43.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.05. The business had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.85 billion. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.The business’s revenue was up 6.7% compared to the same quarter last year. During the same period last year, the business posted $1.72 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, sell-side analysts predict that PPG Industries will post 7.93 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, May 11th were given a dividend of $0.71 per share. 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 (DPR) is currently 40.51%.

Institutional Trading of PPG Industries

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC boosted its position in PPG Industries by 9.1% in the 4th 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 lifted its stake in shares of PPG Industries by 31.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,849 shares of the specialty chemicals company’s stock valued at $421,000 after purchasing an additional 920 shares during the period. Empowered Funds LLC boosted its holdings in PPG Industries by 6.1% during the first quarter. Empowered Funds LLC now owns 26,354 shares of the specialty chemicals company’s stock worth $2,882,000 after buying an additional 1,526 shares in the last quarter. Woodline Partners LP grew its position in PPG Industries by 40.7% during the first quarter. Woodline Partners LP now owns 19,600 shares of the specialty chemicals company’s stock valued at $2,143,000 after buying an additional 5,667 shares during the period. Finally, Cresset Asset Management LLC grew its position in PPG Industries by 6.2% during the second quarter. Cresset Asset Management LLC now owns 6,346 shares of the specialty chemicals company’s stock valued at $722,000 after buying an additional 371 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

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.