Investment Analysts’ Weekly Ratings Updates for PPG Industries (PPG)

A number of firms have modified their ratings and price targets on shares of PPG Industries (NYSE: PPG) recently:

• 4/19/2024 – PPG Industries had its price target lowered by analysts at UBS Group AG from $156.00 to $150.00. They now have a “neutral” rating on the stock.
• 4/11/2024 – PPG Industries was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating. They now have a $163.00 price target on the stock, up previously from $150.00.
• 4/10/2024 – PPG Industries had its price target lowered by analysts at Citigroup Inc. from $170.00 to $161.00. They now have a “buy” rating on the stock.
• 4/9/2024 – PPG Industries had its price target lowered by analysts at KeyCorp from $167.00 to $164.00. They now have an “overweight” rating on the stock.
• 3/7/2024 – PPG Industries had its “neutral” rating reaffirmed by analysts at UBS Group AG. They now have a $156.00 price target on the stock, down previously from $173.00.
• 3/1/2024 – PPG Industries is now covered by analysts at Wolfe Research. They set a “peer perform” rating on the stock.
• 2/27/2024 – PPG Industries was downgraded by analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating. They now have a $149.00 price target on the stock, down previously from $163.00.

PPG Industries Stock Down 3.1 %

Shares of PPG opened at $130.90 on Monday. PPG Industries, Inc. has a 52-week low of $120.32 and a 52-week high of $152.89. The company has a market capitalization of $30.81 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 1.56 and a beta of 1.28. The stock has a fifty day simple moving average of $140.36 and a two-hundred day simple moving average of $138.99. The company has a quick ratio of 1.05, a current ratio of 1.47 and a debt-to-equity ratio of 0.72.

PPG Industries (NYSE:PPG) last issued its earnings results on Friday, April 19th. The specialty chemicals company reported $1.86 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.86. The business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.43 billion. PPG Industries had a return on equity of 23.13% and a net margin of 7.74%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the company earned $1.82 EPS. As a group, equities analysts forecast that PPG Industries, Inc. will post 8.46 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 10th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, May 9th. PPG Industries’s dividend payout ratio is presently 43.92%.

Insider Transactions at PPG Industries

In other news, CFO Vincent J. Morales sold 3,400 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $140.94, for a total transaction of $479,196.00. Following the completion of the transaction, the chief financial officer now directly owns 28,439 shares in the company, valued at approximately $4,008,192.66. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On PPG Industries

A number of hedge funds have recently modified their holdings of PPG. OFI Invest Asset Management purchased a new position in PPG Industries during the 3rd quarter valued at about $25,000. Valued Wealth Advisors LLC purchased a new position in PPG Industries during the 4th quarter valued at about $26,000. SJS Investment Consulting Inc. boosted its holdings in PPG Industries by 588.5% during the 4th quarter. SJS Investment Consulting Inc. now owns 179 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 153 shares during the period. Private Wealth Management Group LLC purchased a new position in PPG Industries during the 4th quarter valued at about $27,000. Finally, CVA Family Office LLC purchased a new position in PPG Industries during the 4th quarter valued at about $28,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.