PPG Industries (NYSE:PPG) Cut to “Hold” at Wall Street Zen

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

Several other analysts have also issued reports on PPG. Royal Bank Of Canada reduced 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. UBS Group cut their price objective on shares of PPG Industries from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Citigroup cut their price target on shares of PPG Industries from $125.00 to $121.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Bank of America upgraded shares of PPG Industries from a “neutral” rating to a “buy” rating and boosted their price target for the company from $127.00 to $134.00 in a research report on Friday, July 17th. Finally, The Goldman Sachs Group lowered their price objective on PPG Industries from $134.00 to $130.00 in a research report on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $126.00.

PPG Industries Trading Up 3.0%

NYSE PPG opened at $113.83 on Friday. The company has a market cap of $25.31 billion, a price-to-earnings ratio of 16.31, a P/E/G ratio of 1.60 and a beta of 1.07. PPG Industries has a 52 week low of $93.39 and a 52 week high of $133.43. The business has a 50 day moving average price of $116.86 and a 200-day moving average price of $113.69. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.72.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share 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 firm had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same period in the previous year, the company earned $2.22 earnings per share. PPG Industries’s revenue for the quarter was up 7.2% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, equities analysts expect that PPG Industries will post 7.9 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 10th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $2.96 annualized dividend and a dividend yield of 2.6%. This is an increase from PPG Industries’s previous quarterly dividend of $0.71. PPG Industries’s payout ratio is 40.69%.

Institutional Trading of PPG Industries

Several hedge funds have recently added to or reduced their stakes in PPG. Dorato Capital Management purchased a new position in shares of PPG Industries in the fourth quarter worth about $26,000. Resources Management Corp CT ADV lifted its position in PPG Industries by 900.0% in the fourth quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 225 shares during the last quarter. Quarry LP bought a new stake in PPG Industries in the third quarter valued at approximately $26,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of PPG Industries during the fourth quarter valued at approximately $30,000. Finally, Essential Partners LLC boosted its stake in shares of PPG Industries by 59.3% during the first quarter. Essential Partners LLC now owns 301 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 112 shares during the period. 81.86% of the stock is owned by institutional investors.

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.