PPG Industries (NYSE:PPG) Price Target Lowered to $110.00 at Berenberg Bank

PPG Industries (NYSE:PPG) had its price target decreased by Berenberg Bank from $131.00 to $110.00 in a research note released on Thursday morning,MarketScreener reports. Berenberg Bank currently has a hold rating on the specialty chemicals company’s stock.

PPG has been the topic of several other reports. JPMorgan Chase & Co. lifted their price objective on shares of PPG Industries from $112.00 to $117.00 and gave the company an “overweight” rating in a research report on Friday, November 21st. Evercore ISI cut their price target on PPG Industries from $145.00 to $112.00 and set an “in-line” rating on the stock in a report on Tuesday, November 11th. UBS Group reduced their price objective 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. Mizuho decreased their price objective on PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. Finally, Sanford C. Bernstein cut their target price on PPG Industries from $129.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $122.54.

PPG Industries Stock Performance

Shares of NYSE:PPG traded up $0.39 during trading on Thursday, reaching $101.06. 2,474,670 shares of the company’s stock traded hands, compared to its average volume of 1,948,548. The stock has a market capitalization of $22.68 billion, a P/E ratio of 22.92, a price-to-earnings-growth ratio of 2.77 and a beta of 1.16. PPG Industries has a 12 month low of $90.24 and a 12 month high of $130.05. The company has a 50 day moving average of $99.79 and a 200-day moving average of $107.35. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.08.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.04. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.06 billion. PPG Industries had a return on equity of 23.61% and a net margin of 6.35%.PPG Industries’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.13 earnings per share. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. On average, equities analysts expect that PPG Industries will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, November 10th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, November 10th. PPG Industries’s payout ratio is currently 64.40%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PPG. Allworth Financial LP lifted its holdings in PPG Industries by 4.7% in the 3rd quarter. Allworth Financial LP now owns 3,749 shares of the specialty chemicals company’s stock valued at $394,000 after acquiring an additional 169 shares during the last quarter. IFP Advisors Inc raised its holdings in shares of PPG Industries by 31.0% in the 3rd quarter. IFP Advisors Inc now owns 3,202 shares of the specialty chemicals company’s stock worth $340,000 after purchasing an additional 758 shares in the last quarter. Swiss Life Asset Management Ltd lifted its stake in PPG Industries by 4.3% during the third quarter. Swiss Life Asset Management Ltd now owns 64,965 shares of the specialty chemicals company’s stock valued at $6,828,000 after purchasing an additional 2,667 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in PPG Industries by 3.5% during the third quarter. CIBC Private Wealth Group LLC now owns 18,047 shares of the specialty chemicals company’s stock worth $1,897,000 after buying an additional 609 shares in the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new position in PPG Industries in the third quarter worth approximately $14,486,000. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Company Profile

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.