Analysts Set PPG Industries, Inc. (NYSE:PPG) PT at $123.00

Shares of PPG Industries, Inc. (NYSE:PPG) have received a consensus rating of “Hold” from the seventeen brokerages that are presently covering the company, Marketbeat reports. Eleven analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $123.7333.

A number of equities analysts recently issued reports on PPG shares. The Goldman Sachs Group dropped their price target on shares of PPG Industries from $134.00 to $130.00 in a research note on Friday, May 1st. Citigroup upped their price target on shares of PPG Industries from $114.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. JPMorgan Chase & Co. dropped their price target on shares of PPG Industries from $126.00 to $125.00 in a research note on Thursday, April 30th. Mizuho upped their price target on shares of PPG Industries from $115.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Finally, BMO Capital Markets upped their price target on shares of PPG Industries from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, June 15th.

Hedge Funds Weigh In On PPG Industries

A number of hedge funds have recently bought and sold shares of the business. CNB Bank raised its position in PPG Industries by 1.8% in the 4th quarter. CNB Bank now owns 4,514 shares of the specialty chemicals company’s stock worth $463,000 after buying an additional 80 shares during the last quarter. IFP Advisors Inc raised its position in PPG Industries by 2.7% in the 4th quarter. IFP Advisors Inc now owns 3,302 shares of the specialty chemicals company’s stock worth $338,000 after buying an additional 87 shares during the last quarter. Whittier Trust Co. raised its position in PPG Industries by 1.4% in the 4th quarter. Whittier Trust Co. now owns 6,658 shares of the specialty chemicals company’s stock worth $703,000 after buying an additional 89 shares during the last quarter. Evolve Private Wealth LLC raised its position in PPG Industries by 3.2% in the 1st quarter. Evolve Private Wealth LLC now owns 2,929 shares of the specialty chemicals company’s stock worth $313,000 after buying an additional 92 shares during the last quarter. Finally, Insigneo Advisory Services LLC raised its position in PPG Industries by 4.3% in the 4th quarter. Insigneo Advisory Services LLC now owns 2,234 shares of the specialty chemicals company’s stock worth $229,000 after buying an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Performance

Shares of PPG stock opened at $123.23 on Wednesday. PPG Industries has a 12 month low of $93.39 and a 12 month high of $133.43. The stock has a market cap of $27.47 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 1.80 and a beta of 1.06. The company has a current ratio of 1.61, a quick ratio of 1.17 and a debt-to-equity ratio of 0.78. The company’s fifty day moving average price is $112.11 and its 200-day moving average price is $111.22.

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

PPG Industries Announces Dividend

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

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.