UBS Group Cuts PPG Industries (NYSE:PPG) Price Target to $110.00

PPG Industries (NYSE:PPG) had its target price cut by UBS Group from $122.00 to $110.00 in a research note published on Thursday morning,Benzinga reports. They currently have a neutral rating on the specialty chemicals company’s stock.

Several other analysts have also issued reports on PPG. BNP Paribas Exane reduced their target price on PPG Industries from $113.00 to $112.00 and set a “neutral” rating on the stock in a report on Wednesday, January 14th. Wells Fargo & Company boosted their price target on PPG Industries from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, January 29th. Sanford C. Bernstein upped their price objective on shares of PPG Industries from $123.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. JPMorgan Chase & Co. increased their price objective on shares of PPG Industries from $117.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, January 29th. Finally, Mizuho decreased their target price on shares of PPG Industries from $140.00 to $115.00 and set an “outperform” rating on the stock in a report on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $120.50.

PPG Industries Stock Up 0.1%

Shares of PPG opened at $103.31 on Thursday. The company has a current ratio of 1.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.82. PPG Industries has a 12 month low of $90.24 and a 12 month high of $133.43. The firm’s 50 day moving average is $114.71 and its 200-day moving average is $106.77. The stock has a market capitalization of $23.12 billion, a PE ratio of 14.89, a P/E/G ratio of 1.56 and a beta of 1.16.

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

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Friday, February 20th were given a $0.71 dividend. The ex-dividend date was Friday, February 20th. This represents a $2.84 dividend on an annualized basis and a yield of 2.7%. PPG Industries’s dividend payout ratio (DPR) is currently 40.92%.

Insiders Place Their Bets

In other news, VP Anne M. Foulkes sold 3,594 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $124.61, for a total value of $447,848.34. Following the completion of the transaction, the vice president directly owned 15,641 shares in the company, valued at approximately $1,949,025.01. This represents a 18.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Chancey E. Hagerty sold 2,250 shares of the firm’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $115.59, for a total value of $260,077.50. Following the sale, the vice president directly owned 8,477 shares in the company, valued at approximately $979,856.43. This trade represents a 20.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 118,811 shares of company stock valued at $15,219,371. 0.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PPG Industries

A number of institutional investors and hedge funds have recently bought and sold shares of the company. First Eagle Investment Management LLC lifted its holdings in shares of PPG Industries by 12.7% during the third quarter. First Eagle Investment Management LLC now owns 6,263,829 shares of the specialty chemicals company’s stock worth $658,391,000 after purchasing an additional 703,549 shares during the period. Dimensional Fund Advisors LP increased its holdings in PPG Industries by 1.5% in the third quarter. Dimensional Fund Advisors LP now owns 3,020,138 shares of the specialty chemicals company’s stock valued at $317,421,000 after purchasing an additional 43,702 shares during the period. Walnut Level Capital LLC increased its holdings in PPG Industries by 46.8% in the second quarter. Walnut Level Capital LLC now owns 62,754 shares of the specialty chemicals company’s stock valued at $7,138,000 after purchasing an additional 20,000 shares during the period. GAM Holding AG raised its position in PPG Industries by 97.5% during the 3rd quarter. GAM Holding AG now owns 21,281 shares of the specialty chemicals company’s stock worth $2,237,000 after purchasing an additional 10,508 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in PPG Industries by 19.9% during the 3rd 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 last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

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.