PPG Industries Inc. (NYSE:PPG) shares traded 1.82% higher at $150.59 on Wall Street last session.
In accordance with the data, 30 analysts cover PPG Industries Inc. (NYSE:PPG). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $179.00 and a low of $133.00, we find $152.00. Given the previous closing price of $147.90, this indicates a potential upside of 2.77 percent. PPG stock price is now 7.39% away from the 50-day moving average and 15.84% away from the 200-day moving average. The market capitalization of the company currently stands at $35.08B.
It has been rated a hold by 14 analysts and a buy by 13. Brokers who have rated the stock have averaged $153.88 as their price target over the next twelve months.
With the price target of $161, Citigroup recently initiated with Buy rating for PPG Industries Inc. (NYSE: PPG).
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 $27.66 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 $1.59 million. Insiders disposed of 99,824 shares of company stock worth roughly $15.03 million over the past 1 year. A total of 0.29% 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 WESTFIELD CAPITAL MANAGEMENT CO LP during the first quarter worth $61,746,000. SCOPUS ASSET MANAGEMENT, L.P. invested $30,871,000 in shares of PPG during the first quarter. In the first quarter, JUNTO CAPITAL MANAGEMENT LP acquired a new stake in PPG Industries Inc. valued at approximately $22,454,000. CANDLESTICK CAPITAL MANAGEMENT LP acquired a new stake in PPG for approximately $15,059,000. EMPOWER ADVISORY GROUP, LLC purchased a new stake in PPG valued at around $12,792,000 in the second quarter. In total, there are 1,297 active investors with 82.50% ownership of the company’s stock.
PPG Industries Inc. (NYSE: PPG) opened at $149.08 on Tuesday. During the past 12 months, PPG Industries Inc. has had a low of $107.40 and a high of $149.66. As of last week, the company has a debt-to-equity ratio of 1.02, a current ratio of 1.70, and a quick ratio of 1.10. According to the stock market information, the enterprise value for the company is $42.08B, which is based on a 28.02 price-to-earnings ratio, a 2.04 price-to-earnings-growth ratio, and a beta of 1.19. The fifty day moving average price for PPG is $140.46 and a two-hundred day moving average price translates $130.18 for the stock.
The latest earnings results from PPG Industries Inc. (NYSE: PPG) was released for Mar, 2023. The net profit margin was 7.20% and return on equity was 19.60% for PPG. The company reported revenue of $4.38 billion for the quarter, compared to $4.31 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 1.67 percent. For the current quarter, analysts expect PPG to generate $4.84B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/12/2023. Investors who held shares on 05/10/2023 were paid a $0.62 dividend. On an annualized basis, this represents a $2.48 dividend and a 1.65% percent yield. There was an ex-dividend date of 05/09/2023 for this dividend. In terms of dividend payout ratio, PPG is presently at 45.40%.
PPG Industries Inc.(PPG) Company Profile
PPG Industries, Inc. manufactures and distributes paints, coatings, and specialty materials worldwide. The company operates through 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; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft. The 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.
