PPG Industries (NYSE:PPG) Rating Increased to Strong-Buy at KeyCorp

KeyCorp upgraded shares of PPG Industries (NYSE:PPG) to a strong-buy rating in a report issued on Thursday morning,Zacks reports. KeyCorp also issued estimates for PPG Industries’ Q3 2026 earnings at $2.11 EPS, Q4 2026 earnings at $1.72 EPS, FY2027 earnings at $8.45 EPS and FY2028 earnings at $9.45 EPS.

PPG has been the topic of a number of other research reports. 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 report on Monday, July 6th. UBS Group cut their target price 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. Wall Street Zen lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Citigroup lowered their price target on PPG Industries from $125.00 to $121.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Finally, Weiss Ratings upgraded PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, PPG Industries presently has an average rating of “Moderate Buy” and a consensus target price of $126.00.

PPG Industries Price Performance

NYSE PPG opened at $104.89 on Thursday. PPG Industries has a one year low of $93.39 and a one year high of $133.43. The stock has a 50-day moving average of $114.72 and a 200 day moving average of $112.40. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.58. The company has a market capitalization of $23.32 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.74 and a beta of 1.07.

PPG Industries (NYSE:PPG) last posted its earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.02). The company had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.37 billion. PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. PPG Industries’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.22 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, sell-side analysts forecast that PPG Industries will post 7.89 EPS for the current year.

PPG Industries Increases Dividend

The firm 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. The ex-dividend date is Monday, August 10th. 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. PPG Industries’s dividend payout ratio is 42.41%.

Institutional Investors Weigh In On PPG Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System grew its holdings in PPG Industries by 12,647.0% during the second quarter. California State Teachers Retirement System now owns 60,284,284 shares of the specialty chemicals company’s stock valued at $7,311,881,000 after purchasing an additional 59,811,353 shares during the period. BlackRock Inc. bought a new position in shares of PPG Industries in the second quarter worth about $2,856,392,000. State Street Corp lifted its position in shares of PPG Industries by 4.6% during the 4th quarter. State Street Corp now owns 12,829,677 shares of the specialty chemicals company’s stock valued at $1,314,529,000 after buying an additional 565,523 shares in the last quarter. Pzena Investment Management LLC purchased a new position in shares of PPG Industries during the 2nd quarter valued at about $946,964,000. Finally, Franklin Resources Inc. grew its stake in shares of PPG Industries by 48.9% during the 4th quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company’s stock valued at $716,256,000 after acquiring an additional 2,295,118 shares during the period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

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.