JPMorgan Chase & Co. Issues Positive Forecast for PPG Industries (NYSE:PPG) Stock Price

PPG Industries (NYSE:PPG) had its price objective lifted by JPMorgan Chase & Co. from $112.00 to $117.00 in a report released on Friday,Benzinga reports. They currently have an overweight rating on the specialty chemicals company’s stock.

Several other equities analysts also recently issued reports on PPG. Royal Bank Of Canada raised their price target on shares of PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a research note on Friday, August 1st. UBS Group lowered their target price on PPG Industries from $115.00 to $110.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PPG Industries in a report on Friday, October 31st. Mizuho decreased their price target on PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Finally, Wells Fargo & Company cut their price objective on PPG Industries from $132.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $123.64.

PPG Industries Trading Up 3.8%

PPG Industries stock traded up $3.59 during trading hours on Friday, hitting $98.79. The stock had a trading volume of 3,808,083 shares, compared to its average volume of 2,012,741. The stock has a market cap of $22.17 billion, a price-to-earnings ratio of 22.40, a P/E/G ratio of 2.13 and a beta of 1.19. The company has a quick ratio of 1.04, a current ratio of 1.47 and a debt-to-equity ratio of 0.76. The business’s 50 day simple moving average is $101.25 and its 200-day simple moving average is $108.19. PPG Industries has a one year low of $90.24 and a one year high of $130.05.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.04. PPG Industries had a return on equity of 24.17% and a net margin of 6.35%.The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the prior year, the firm posted $2.13 earnings per share. The firm’s revenue was up 1.2% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. On average, equities analysts predict that PPG Industries will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, November 10th will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, November 10th. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. PPG Industries’s dividend payout ratio is currently 64.40%.

Institutional Trading of PPG Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC boosted its holdings in PPG Industries by 127.6% in the second quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 125 shares in the last quarter. Cheviot Value Management LLC bought a new position in shares of PPG Industries in the 1st quarter worth $26,000. Steigerwald Gordon & Koch Inc. bought a new stake in PPG Industries during the 3rd quarter valued at $26,000. Quarry LP acquired a new position in PPG Industries during the third quarter worth $26,000. Finally, Headlands Technologies LLC acquired a new position in PPG Industries during the first quarter worth $30,000. 81.86% of the stock is owned by institutional investors.

About PPG Industries

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.