In yesterday’s Wall Street session, PPG Industries Inc. (NYSE:PPG) shares traded at $126.23, down -2.04% from the previous session.
29 analysts cover PPG Industries Inc. (NYSE:PPG), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $159.00 and a low of $118.00, we find $140.00. Given the previous closing price of $128.86, this indicates a potential upside of 8.65 percent. PPG stock price is now -2.58% away from the 50-day moving average and 1.93% away from the 200-day moving average. The market capitalization of the company currently stands at $30.29B.
25-cent Stock Takes $11T Commodities Sector Digital
One brilliantly-run technology firm has successfully partnered with some of the largest players in the industry to bring a first-of-its-kind digital solution to the global commodities supply chain sector. Best of all, this upstart technology firm is currently trading undiscovered — below 25-cents per share — so very, very few investors know about it yet! For investors… it's an early-stage opportunity in a company that's bringing the US$11T global commodities sector straight into the 21st century.
All the details are in the FREE online report you can get here.
Sponsored
The stock has received a hold rating from 16 analysts and a buy rating from 10. Brokers who have rated the stock have averaged $138.88 as their price target over the next twelve months.
On January 23, 2023, Exane BNP Paribas Downgraded its previous ‘Outperform’ rating to ‘Neutral’ on the stock keeping its target price maintained at $130, while ‘RBC Capital Mkts’ rates the stock as ‘Sector Perform’.
In other news, MCGARRY MICHAEL H, Executive Chairman sold 61,867 shares of the company’s stock on Jan 31. The stock was sold for $8,040,427 at an average price of $129.96. Upon completion of the transaction, the Executive Chairman now directly owns 183,645 shares in the company, valued at $23.18 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 24, Sr. VP and General Counsel Foulkes Anne M. sold 21,757 shares of the business’s stock. A total of $2,791,985 was realized by selling the stock at an average price of $128.33. This leaves the insider owning 10,577 shares of the company worth $1.34 million. Insiders disposed of 63,766 shares of company stock worth roughly $8.05 million over the past 1 year. A total of 0.27% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PPG stock. A new stake in PPG Industries Inc. shares was purchased by CAPITAL RESEARCH GLOBAL INVESTORS during the first quarter worth $67,254,000. TWINBEECH CAPITAL LP invested $30,961,000 in shares of PPG during the first quarter. In the first quarter, DUQUESNE FAMILY OFFICE LLC acquired a new stake in PPG Industries Inc. valued at approximately $26,880,000. BALYASNY ASSET MANAGEMENT LLC acquired a new stake in PPG for approximately $25,107,000. FARMER STEVEN PATRICK purchased a new stake in PPG valued at around $16,776,000 in the second quarter. In total, there are 1,288 active investors with 82.50% ownership of the company’s stock.
On Friday morning PPG Industries Inc. (NYSE: PPG) stock kicked off with the opening price of $127.98. During the past 12 months, PPG Industries Inc. has had a low of $107.06 and a high of $157.55. As of last week, the company has a debt-to-equity ratio of 1.13, a current ratio of 1.50, and a quick ratio of 1.00. The fifty day moving average price for PPG is $129.47 and a two-hundred day moving average price translates $123.84 for the stock.
The latest earnings results from PPG Industries Inc. (NYSE: PPG) was released for Dec, 2022. The net profit margin was 6.20% and return on equity was 17.60% for PPG. The company reported revenue of $4.47 billion for the quarter, compared to $4.37 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 2.2 percent. For the current quarter, analysts expect PPG to generate $4.1B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 03/10/2023. Investors who held shares on 02/17/2023 were paid a $0.62 dividend. On an annualized basis, this represents a $2.48 dividend and a 1.96% percent yield. There was an ex-dividend date of 02/16/2023 for this dividend. In terms of dividend payout ratio, PPG is presently at 51.40%.
PPG Industries Inc.(PPG) Company Profile
PPG Industries, Inc. manufactures and distributes paints, coatings, and specialty materials worldwide. The company’s 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft. It also provides coatings and finishes for the protection of metals and structures, such as metal fabricators, heavy duty maintenance contractors, and manufacturers of ships, bridges, and rail cars; paints, wood stains, adhesives, and purchased sundries for painting and maintenance contractors, and consumers for decoration and maintenance of residential and commercial building structures; and paints, thermoplastics, pavement marking products, and other technologies for pavement marking. The company’s Industrial Coatings segment offers coatings, adhesives and sealants, and metal pretreatments, as well as services and coatings applications for appliances, agricultural and construction equipment, consumer electronics, automotive parts and accessories, building products, kitchenware, and transportation vehicles and other finished products; and on-site coatings services. It also provides coatings for metal cans, closures, plastic tubes, and promotional and specialty packaging; amorphous precipitated silica for tire, battery separator, and other end-uses; TESLIN substrates for labels, e-passports, drivers’ licenses, breathable membranes, and loyalty and identification cards; and organic light emitting diode materials, displays and lighting lens materials, optical lenses, color-change products, and photochromic dyes. The company was incorporated in 1883 and is headquartered in Pittsburgh, Pennsylvania.
