PPG Industries (NYSE:PPG) Cut to Hold at Seaport Res Ptn

Seaport Res Ptn lowered shares of PPG Industries (NYSE:PPG - Free Report) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday morning,Zacks.com reports. Seaport Res Ptn also issued estimates for PPG Industries' Q1 2025 earnings at $1.53 EPS, Q2 2025 earnings at $2.24 EPS, Q3 2025 earnings at $2.12 EPS, Q4 2025 earnings at $1.82 EPS, FY2025 earnings at $7.71 EPS and FY2026 earnings at $8.62 EPS.

Several other analysts have also recently weighed in on PPG. KeyCorp cut shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a research note on Monday, December 16th. Barclays reiterated an "equal weight" rating on shares of PPG Industries in a research report on Monday, February 3rd. Mizuho cut their target price on PPG Industries from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. lowered PPG Industries from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $145.00 to $115.00 in a research note on Wednesday, February 12th. Finally, Citigroup cut their price objective on PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Wednesday, December 18th. Nine investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $138.15.

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PPG Industries Price Performance

PPG traded down $0.77 during midday trading on Wednesday, hitting $114.71. 2,496,607 shares of the company traded hands, compared to its average volume of 1,625,627. The business has a 50 day simple moving average of $116.82 and a two-hundred day simple moving average of $122.75. PPG Industries has a 52-week low of $109.15 and a 52-week high of $145.61. The company has a market capitalization of $26.03 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 2.19 and a beta of 1.22. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The specialty chemicals company reported $1.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.65 by ($0.04). PPG Industries had a return on equity of 23.78% and a net margin of 6.41%. On average, equities analysts forecast that PPG Industries will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Friday, February 21st will be paid a $0.68 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $2.72 annualized dividend and a dividend yield of 2.37%. PPG Industries's dividend payout ratio (DPR) is 57.51%.

Insider Transactions at PPG Industries

In other news, CEO Timothy M. Knavish sold 4,800 shares of PPG Industries stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $118.35, for a total value of $568,080.00. Following the completion of the transaction, the chief executive officer now owns 35,833 shares in the company, valued at approximately $4,240,835.55. This trade represents a 11.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.55% of the company's stock.

Institutional Trading of PPG Industries

A number of large investors have recently made changes to their positions in PPG. Park Square Financial Group LLC acquired a new position in PPG Industries during the 4th quarter worth approximately $26,000. Legend Financial Advisors Inc. purchased a new stake in shares of PPG Industries during the 4th quarter worth $27,000. Pin Oak Investment Advisors Inc. grew its stake in shares of PPG Industries by 465.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company's stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in PPG Industries in the third quarter valued at $34,000. Finally, Hara Capital LLC acquired a new stake in PPG Industries in the third quarter valued at $40,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

About PPG Industries

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.