PPG Industries (NYSE:PPG) Upgraded at Bank of America

Bank of America upgraded shares of PPG Industries (NYSE:PPG) from a neutral rating to a buy rating in a report released on Friday morning, MarketBeat reports. Bank of America currently has $134.00 price target on the specialty chemicals company’s stock, up from their previous price target of $127.00.

Several other analysts have also recently commented on PPG. Royal Bank Of Canada increased their target price on PPG Industries from $119.00 to $129.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 8th. JPMorgan Chase & Co. reduced their price target on shares of PPG Industries from $126.00 to $125.00 in a research report on Thursday, April 30th. BNP Paribas Exane increased their price objective on shares of PPG Industries from $115.00 to $116.00 in a report on Thursday, April 30th. UBS Group raised their price objective on shares of PPG Industries from $110.00 to $116.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Finally, Wells Fargo & Company dropped their target price on shares of PPG Industries from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday, April 10th. Seven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $126.13.

PPG Industries Stock Up 0.0%

Shares of PPG opened at $117.39 on Friday. The company has a market capitalization of $26.17 billion, a P/E ratio of 16.75, a PEG ratio of 1.71 and a beta of 1.05. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.61 and a quick ratio of 1.17. PPG Industries has a one year low of $93.39 and a one year high of $133.43. The business’s 50 day simple moving average is $114.79 and its 200-day simple moving average is $112.93.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.05. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.The firm had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.85 billion. During the same period last year, the firm posted $1.72 EPS. The business’s revenue was up 6.7% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, sell-side analysts predict that PPG Industries will post 7.94 EPS for the current fiscal year.

PPG Industries Increases Dividend

The company 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. This represents a $2.96 annualized dividend and a dividend yield of 2.5%. This is a boost from PPG Industries’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, August 10th. PPG Industries’s payout ratio is currently 40.51%.

Institutional Trading of PPG Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PPG. Hudson Value Partners LLC bought a new stake in PPG Industries during the 2nd quarter worth about $218,000. Tema ETFs LLC boosted its stake in shares of PPG Industries by 10.5% in the 2nd quarter. Tema ETFs LLC now owns 4,593 shares of the specialty chemicals company’s stock valued at $557,000 after purchasing an additional 435 shares during the last quarter. G&S Capital LLC grew its position in shares of PPG Industries by 8.6% during the 2nd quarter. G&S Capital LLC now owns 6,892 shares of the specialty chemicals company’s stock worth $836,000 after buying an additional 548 shares during the period. Charles Schwab Trust Co raised its stake in shares of PPG Industries by 16.5% during the second quarter. Charles Schwab Trust Co now owns 2,817 shares of the specialty chemicals company’s stock worth $342,000 after buying an additional 400 shares during the last quarter. Finally, Valeo Financial Advisors LLC acquired a new position in PPG Industries in the second quarter valued at approximately $234,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Company Profile

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.