PPG Industries (NYSE:PPG) Stock Gets Price Target Trim from Royal Bank Of Canada

PPG Industries (NYSE:PPG) had its target price cut by Royal Bank Of Canada from $122.00 to $115.00 in a research report released on Friday morning,Benzinga reports. They currently have a sector perform rating on the specialty chemicals company’s stock.

PPG has been the subject of a number of other research reports. Mizuho raised their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Sanford C. Bernstein reiterated an “outperform” rating and set a $136.00 price objective on shares of PPG Industries in a research report on Thursday, September 24th. KeyCorp assumed coverage on shares of PPG Industries in a research note on Friday, September 11th. They set an “overweight” rating and a $133.00 target price on the stock. Wall Street Zen lowered PPG Industries from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $128.00 target price on shares of PPG Industries in a report on Friday. Eight equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, PPG Industries presently has a consensus rating of “Hold” and a consensus target price of $125.50.

PPG Industries Stock Performance

Shares of PPG opened at $103.98 on Friday. PPG Industries has a one year low of $93.39 and a one year high of $133.43. The company has a 50-day moving average of $110.13 and a two-hundred day moving average of $111.67. The stock has a market cap of $23.11 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.69 and a beta of 1.06. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.58 and a quick ratio of 1.15.

PPG Industries (NYSE:PPG) last released its earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.37 billion. During the same period last year, the business earned $2.22 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, equities research analysts expect that PPG Industries will post 7.89 earnings per share for the current year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Monday, August 10th were issued a $0.74 dividend. The ex-dividend date was Monday, August 10th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.8%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.71. PPG Industries’s dividend payout ratio is currently 42.41%.

Institutional Trading of PPG Industries

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of PPG Industries in the 2nd quarter valued at approximately $2,856,392,000. State Street Corp raised its position in PPG Industries by 8.8% during the second quarter. State Street Corp now owns 13,871,116 shares of the specialty chemicals company’s stock valued at $1,682,428,000 after acquiring an additional 1,124,109 shares in the last quarter. Pzena Investment Management LLC bought a new position in PPG Industries during the second quarter valued at approximately $946,964,000. Dimensional Fund Advisors LP raised its position in PPG Industries by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,925,343 shares of the specialty chemicals company’s stock valued at $312,613,000 after acquiring an additional 58,411 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in PPG Industries in the second quarter valued at approximately $318,870,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

About PPG Industries

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. Founded in 1883 as Pittsburgh Plate Glass, the company originally produced plate glass and later expanded into coatings and related technologies. Today, PPG’s products are used to protect, decorate and improve the performance of vehicles, aircraft, buildings, industrial equipment and consumer goods.

PPG serves the automotive, aerospace, construction, industrial, marine, packaging and consumer-product markets.