Citigroup Reaffirms Neutral Rating for PPG Industries (NYSE:PPG)

PPG Industries (NYSE:PPG)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Citigroup in a research report issued on Wednesday, Marketbeat.com reports. They presently have a $113.00 target price on the specialty chemicals company’s stock. Citigroup’s target price points to a potential upside of 5.53% from the company’s previous close.

Several other research analysts have also recently weighed in on PPG. Bank of America lowered their price target on shares of PPG Industries from $118.00 to $116.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. Jefferies Financial Group boosted their price objective on PPG Industries from $115.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, January 29th. Sanford C. Bernstein increased their target price on PPG Industries from $123.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Zacks Research raised PPG Industries from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. Finally, Evercore boosted their price target on PPG Industries from $112.00 to $128.00 in a research note on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $122.71.

PPG Industries Trading Up 3.1%

PPG stock opened at $107.08 on Wednesday. PPG Industries has a one year low of $90.24 and a one year high of $133.43. The stock has a market cap of $23.96 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 1.57 and a beta of 1.15. The company has a fifty day moving average price of $115.22 and a two-hundred day moving average price of $106.85. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.62 and a quick ratio of 1.22.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Tuesday, January 27th. The specialty chemicals company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.06). The company had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.77 billion. PPG Industries had a net margin of 9.93% and a return on equity of 22.30%. PPG Industries’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.61 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Equities analysts anticipate that PPG Industries will post 7.95 EPS for the current year.

Insider Activity

In related news, VP Anne M. Foulkes sold 3,594 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $124.61, for a total transaction of $447,848.34. Following the sale, the vice president owned 15,641 shares of the company’s stock, valued at $1,949,025.01. This represents a 18.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Vincent J. Morales sold 78,095 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $131.00, for a total value of $10,230,445.00. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 118,811 shares of company stock worth $15,219,371. Corporate insiders own 0.33% of the company’s stock.

Institutional Trading of PPG Industries

Several large investors have recently modified their holdings of PPG. Wellington Management Group LLP increased its position in shares of PPG Industries by 19.9% in 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 purchasing an additional 2,521,004 shares during the period. State Street Corp lifted its position in PPG Industries by 4.6% during the fourth quarter. State Street Corp now owns 12,829,677 shares of the specialty chemicals company’s stock worth $1,314,529,000 after purchasing an additional 565,523 shares during the period. Pzena Investment Management LLC grew its stake in PPG Industries by 306.2% during the fourth quarter. Pzena Investment Management LLC now owns 7,098,767 shares of the specialty chemicals company’s stock worth $727,340,000 after buying an additional 5,351,103 shares in the last quarter. Franklin Resources Inc. grew its stake in 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 in the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in PPG Industries by 0.4% in the 4th quarter. First Eagle Investment Management LLC now owns 6,290,622 shares of the specialty chemicals company’s stock valued at $644,537,000 after buying an additional 26,793 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.