Recent Research Analysts’ Ratings Changes for PPG Industries (PPG)

Several brokerages have updated their recommendations and price targets on shares of PPG Industries (NYSE: PPG) in the last few weeks:

• 12/20/2024 – PPG Industries was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 12/19/2024 – PPG Industries had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $150.00 to $145.00. They now have a “buy” rating on the stock.
• 12/18/2024 – PPG Industries had its price target lowered by analysts at Citigroup Inc. from $150.00 to $145.00. They now have a “buy” rating on the stock.
• 12/16/2024 – PPG Industries was downgraded by analysts at KeyCorp from a “strong-buy” rating to a “hold” rating.
• 12/12/2024 – PPG Industries was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 11/27/2024 – PPG Industries was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 11/19/2024 – PPG Industries was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.

PPG Industries Stock Down 1.3 %

Shares of PPG Industries stock traded down $1.50 during trading hours on Friday, reaching $113.92. 556,471 shares of the company were exchanged, compared to its average volume of 1,582,486. The firm has a market cap of $26.43 billion, a PE ratio of 18.05, a PEG ratio of 1.90 and a beta of 1.24. The stock’s fifty day moving average is $123.33 and its 200 day moving average is $125.61. PPG Industries, Inc. has a 1 year low of $113.49 and a 1 year high of $147.76. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The firm had revenue of $4.58 billion during the quarter, compared to analyst estimates of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. PPG Industries’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.07 earnings per share. As a group, equities research analysts forecast that PPG Industries, Inc. will post 8.18 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th were paid a $0.68 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $2.72 annualized dividend and a yield of 2.39%. PPG Industries’s dividend payout ratio is currently 43.11%.

Insider Transactions at PPG Industries

In other news, VP Anne M. Foulkes sold 1,985 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the transaction, the vice president now directly owns 13,454 shares in the company, valued at approximately $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.55% of the company’s stock.

Institutional Investors Weigh In On PPG Industries

A number of institutional investors and hedge funds have recently made changes to their positions in PPG. State Street Corp raised its position in PPG Industries by 4.4% during the 3rd quarter. State Street Corp now owns 11,717,499 shares of the specialty chemicals company’s stock worth $1,552,100,000 after buying an additional 491,774 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of PPG Industries by 5.7% during the 3rd quarter. Wellington Management Group LLP now owns 8,977,010 shares of the specialty chemicals company’s stock worth $1,189,095,000 after buying an additional 485,597 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of PPG Industries by 20.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,197,012 shares of the specialty chemicals company’s stock valued at $276,576,000 after buying an additional 368,410 shares in the last quarter. FMR LLC raised its position in PPG Industries by 68.3% in the third quarter. FMR LLC now owns 873,902 shares of the specialty chemicals company’s stock worth $115,757,000 after acquiring an additional 354,740 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of PPG Industries by 189.6% in the 3rd quarter. International Assets Investment Management LLC now owns 426,834 shares of the specialty chemicals company’s stock valued at $56,538,000 after purchasing an additional 279,455 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

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.