PPG Industries (NYSE:PPG) Hits New 52-Week High – Here’s What Happened

PPG Industries, Inc. (NYSE:PPG)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $127.10 and last traded at $126.19, with a volume of 202178 shares. The stock had previously closed at $126.51.

Analysts Set New Price Targets

A number of brokerages have weighed in on PPG. Evercore lowered their price objective on PPG Industries from $145.00 to $112.00 and set an “in-line” rating for the company in a research note on Tuesday, November 11th. KeyCorp restated a “sector weight” rating on shares of PPG Industries in a research note on Thursday, January 29th. Bank of America reduced their price objective on shares of PPG Industries from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of PPG Industries in a research report on Wednesday, January 28th. Finally, Zacks Research raised shares of PPG Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $123.71.

PPG Industries Price Performance

The company has a market capitalization of $28.66 billion, a P/E ratio of 18.40, a PEG ratio of 1.90 and a beta of 1.16. The company has a quick ratio of 1.08, a current ratio of 1.47 and a debt-to-equity ratio of 0.74. The business has a 50 day simple moving average of $107.46 and a 200-day simple moving average of $105.70.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Tuesday, January 27th. The specialty chemicals company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.06). PPG Industries had a return on equity of 22.67% and a net margin of 9.93%.The firm had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the business earned $1.61 EPS. The firm’s revenue was up 5.0% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Friday, February 20th will be given a $0.71 dividend. The ex-dividend date is Friday, February 20th. This represents a $2.84 annualized dividend and a yield of 2.2%. PPG Industries’s payout ratio is 40.92%.

Insider Activity

In other news, VP Chancey E. Hagerty sold 2,250 shares of the business’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $115.59, for a total transaction of $260,077.50. Following the sale, the vice president directly owned 8,477 shares of the company’s stock, valued at $979,856.43. The trade was a 20.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vincent J. Morales sold 29,672 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $125.00, for a total value of $3,709,000.00. Following the completion of the transaction, the chief financial officer owned 28,439 shares of the company’s stock, valued at $3,554,875. This trade represents a 51.06% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 37,122 shares of company stock valued at $4,541,078. Insiders own 0.33% of the company’s stock.

Institutional Investors Weigh In On PPG Industries

Hedge funds have recently made changes to their positions in the company. Steigerwald Gordon & Koch Inc. acquired a new stake in PPG Industries during the 3rd quarter valued at $26,000. Dorato Capital Management purchased a new stake in PPG Industries in the 4th quarter worth about $26,000. Quarry LP purchased a new position in PPG Industries during the 3rd quarter valued at about $26,000. Root Financial Partners LLC acquired a new position in shares of PPG Industries in the 3rd quarter valued at about $30,000. Finally, Gladwyn Financial Advisors Inc. purchased a new stake in shares of PPG Industries in the second quarter worth approximately $31,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

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.