Shares of PPG Industries, Inc. (NYSE:PPG – Get Free Report) have been given an average recommendation of “Hold” by the seventeen analysts that are presently covering the company, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $126.00.
Several research analysts recently issued reports on the stock. Citigroup reduced their price target on shares of PPG Industries from $125.00 to $121.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Royal Bank Of Canada dropped their target price on shares of PPG Industries from $129.00 to $122.00 and set a “sector perform” rating for the company in a research note on Thursday, July 30th. Wall Street Zen lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. BMO Capital Markets reduced their price objective on PPG Industries from $140.00 to $138.00 and set an “outperform” rating on the stock in a report on Monday, July 6th. Finally, Mizuho increased their price objective on PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st.
PPG Industries Stock Performance
PPG Industries (NYSE:PPG – Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 EPS 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 business had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter last year, the company earned $2.22 earnings per share. The firm’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. As a group, sell-side analysts anticipate that PPG Industries will post 7.89 EPS for the current fiscal year.
PPG Industries Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 2.8%. This is a boost from PPG Industries’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, August 10th. PPG Industries’s payout ratio is currently 42.41%.
Institutional Trading of PPG Industries
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PPG. Meeder Asset Management Inc. bought a new position in shares of PPG Industries in the 2nd quarter valued at about $26,000. Resources Management Corp CT ADV raised its stake in shares of PPG Industries by 900.0% during the fourth quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 225 shares during the last quarter. Quarry LP acquired a new position in PPG Industries in the third quarter valued at approximately $26,000. Keating Financial Advisory Services Inc. acquired a new position in PPG Industries in the second quarter valued at approximately $28,000. Finally, Community Bank N.A. bought a new position in PPG Industries in the second quarter valued at approximately $28,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.
About PPG Industries
PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. The company supplies protective and decorative coatings used in automotive, aerospace, industrial, marine, packaging and consumer applications. Its products are designed to protect surfaces, improve appearance and provide specialized performance characteristics such as corrosion resistance and durability.
PPG’s portfolio includes automotive refinish coatings, original-equipment automotive coatings, aerospace coatings, industrial and protective coatings, packaging coatings, and architectural paints and coatings.
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