PPG Industries (NYSE:PPG) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of PPG Industries (NYSE:PPG) from a hold rating to a buy rating in a report released on Saturday morning.

A number of other equities research analysts have also recently commented on PPG. BMO Capital Markets lowered their price objective on shares of PPG Industries from $140.00 to $138.00 and set an “outperform” rating on the stock in a research note on Monday, July 6th. Deutsche Bank Aktiengesellschaft boosted their price target on PPG Industries from $120.00 to $130.00 in a research report on Friday, March 27th. Royal Bank Of Canada raised their target price on shares of PPG Industries from $119.00 to $129.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 8th. Citigroup upped their price target on PPG Industries from $114.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Finally, Bank of America upgraded PPG Industries from a “neutral” rating to a “buy” rating and raised their target price for the company from $127.00 to $134.00 in a research note on Friday. Seven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, PPG Industries has an average rating of “Hold” and an average target price of $126.13.

PPG Industries Trading Down 1.1%

Shares of PPG Industries stock opened at $117.39 on Friday. The company has a 50-day moving average of $114.79 and a two-hundred day moving average of $112.87. PPG Industries has a 12-month low of $93.39 and a 12-month high of $133.43. 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 stock has a market cap of $26.17 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 1.72 and a beta of 1.05.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.05. The business had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.85 billion. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.The company’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.72 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, research analysts anticipate that PPG Industries will post 7.94 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 is a boost from PPG Industries’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, August 10th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.5%. PPG Industries’s dividend payout ratio (DPR) is 42.23%.

Institutional Investors Weigh In On PPG Industries

A number of large investors have recently added to or reduced their stakes in PPG. Nvest Wealth Strategies Inc. acquired a new position in shares of PPG Industries during the fourth quarter worth approximately $505,000. Cooke & Bieler LP raised its stake in PPG Industries by 16.7% during the 4th quarter. Cooke & Bieler LP now owns 1,616,672 shares of the specialty chemicals company’s stock valued at $165,644,000 after purchasing an additional 231,537 shares during the last quarter. Equity Investment Corp boosted its holdings in PPG Industries by 3.4% in the 4th quarter. Equity Investment Corp now owns 995,323 shares of the specialty chemicals company’s stock valued at $101,981,000 after purchasing an additional 32,337 shares during the period. Mather Group LLC. grew its position in PPG Industries by 10.3% in the 4th quarter. Mather Group LLC. now owns 142,340 shares of the specialty chemicals company’s stock worth $14,584,000 after purchasing an additional 13,254 shares during the last quarter. Finally, UBS Group AG increased its holdings in shares of PPG Industries by 15.0% during the 4th quarter. UBS Group AG now owns 1,172,231 shares of the specialty chemicals company’s stock worth $120,107,000 after purchasing an additional 152,779 shares during the period. Institutional investors own 81.86% of the company’s stock.

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.