Citigroup Cuts PPG Industries (NYSE:PPG) Price Target to $121.00

PPG Industries (NYSE:PPG) had its price objective cut by Citigroup from $125.00 to $121.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have a neutral rating on the specialty chemicals company’s stock.

Several other analysts also recently issued reports on the stock. Bank of America raised shares of PPG Industries from a “neutral” rating to a “buy” rating and lifted their price target for the company from $127.00 to $134.00 in a research report on Friday, July 17th. Weiss Ratings upgraded shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. UBS Group raised their price objective on shares of PPG Industries from $110.00 to $116.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Wall Street Zen upgraded shares of PPG Industries from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Finally, Mizuho boosted their target price on shares of PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Seven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $126.00.

PPG Industries Stock Down 1.2%

Shares of NYSE:PPG opened at $110.64 on Thursday. The business’s 50 day simple moving average is $116.74 and its two-hundred day simple moving average is $113.61. The firm has a market cap of $24.60 billion, a P/E ratio of 15.85, a PEG ratio of 1.63 and a beta of 1.05. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.17 and a current ratio of 1.58. PPG Industries has a 52-week low of $93.39 and a 52-week high of $133.43.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.02). The firm had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.37 billion. PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the business posted $2.22 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, research analysts forecast that PPG Industries will post 7.9 EPS for the current fiscal year.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 10th will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 2.7%. This is an increase from PPG Industries’s previous quarterly dividend of $0.71. The ex-dividend date is Monday, August 10th. PPG Industries’s dividend payout ratio is currently 40.69%.

Hedge Funds Weigh In On PPG Industries

Several large investors have recently bought and sold shares of the stock. Brighton Jones LLC raised its holdings in shares of PPG Industries by 9.1% in the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock valued at $487,000 after purchasing an additional 339 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in PPG Industries by 31.4% during the first quarter. Integrated Wealth Concepts LLC now owns 3,849 shares of the specialty chemicals company’s stock worth $421,000 after purchasing an additional 920 shares during the last quarter. Empowered Funds LLC boosted its holdings in PPG Industries by 6.1% during the first quarter. Empowered Funds LLC now owns 26,354 shares of the specialty chemicals company’s stock worth $2,882,000 after purchasing an additional 1,526 shares during the last quarter. Woodline Partners LP grew its position in PPG Industries by 40.7% in the 1st quarter. Woodline Partners LP now owns 19,600 shares of the specialty chemicals company’s stock worth $2,143,000 after purchasing an additional 5,667 shares in the last quarter. Finally, Cresset Asset Management LLC increased its stake in PPG Industries by 6.2% in the 2nd quarter. Cresset Asset Management LLC now owns 6,346 shares of the specialty chemicals company’s stock valued at $722,000 after buying an additional 371 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries News Roundup

Here are the key news stories impacting PPG Industries this week:

• Positive Sentiment: PPG’s reaffirmed 2026 earnings guidance and planned share repurchases could support per-share earnings and suggest management remains confident in its outlook. One analysis estimates the stock may be about 11% undervalued. PPG Industries could be 11% undervalued
• Positive Sentiment: PPG continues to attract attention as a dividend stock, offering income support that may appeal to long-term investors while the share price remains below its prior-year high. Why PPG is a great dividend stock
• Neutral Sentiment: Citigroup cut its PPG price target to $121 from $125 while maintaining a neutral rating. UBS lowered its target to $125 from $130 and also kept a neutral rating, while RBC reduced its target to $122 from $129 with a sector-perform rating. The revised targets still imply upside from the current share level, but the cuts signal more cautious near-term expectations. Citigroup lowers PPG price target
• Negative Sentiment: Recent coverage highlights a critical test for PPG’s coatings demand and margins. Investors are watching whether the company can convert revenue growth into stronger profitability amid potentially difficult market conditions. PPG faces a crucial coatings test PPG faces a critical margin test

About PPG Industries

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.