Dearborn Partners LLC acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,658 shares of the specialty chemicals company’s stock, valued at approximately $498,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. CNB Bank increased its stake in PPG Industries by 1.8% in the fourth quarter. CNB Bank now owns 4,514 shares of the specialty chemicals company’s stock valued at $463,000 after purchasing an additional 80 shares during the last quarter. IFP Advisors Inc boosted its stake in PPG Industries by 2.7% in the 4th quarter. IFP Advisors Inc now owns 3,302 shares of the specialty chemicals company’s stock worth $338,000 after buying an additional 87 shares during the last quarter. Evolve Private Wealth LLC grew its holdings in PPG Industries by 3.2% in the 1st quarter. Evolve Private Wealth LLC now owns 2,929 shares of the specialty chemicals company’s stock valued at $313,000 after buying an additional 92 shares during the period. Insigneo Advisory Services LLC grew its holdings in PPG Industries by 4.3% in the 4th quarter. Insigneo Advisory Services LLC now owns 2,234 shares of the specialty chemicals company’s stock valued at $229,000 after buying an additional 92 shares during the period. Finally, OMERS ADMINISTRATION Corp increased its stake in shares of PPG Industries by 1.1% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 8,533 shares of the specialty chemicals company’s stock valued at $874,000 after acquiring an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have recently weighed in on the stock. The Goldman Sachs Group cut their price objective on shares of PPG Industries from $134.00 to $130.00 in a report on Friday, May 1st. BNP Paribas Exane boosted their target price on shares of PPG Industries from $115.00 to $116.00 in a report on Thursday, April 30th. Bank of America raised shares of PPG Industries from a “neutral” rating to a “buy” rating and increased their price target for the stock from $127.00 to $134.00 in a research note on Friday, July 17th. Citigroup cut their price target on shares of PPG Industries from $125.00 to $121.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Finally, UBS Group decreased their price target on shares of PPG Industries from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $126.00.
PPG Industries Stock Performance
PPG Industries stock opened at $113.28 on Tuesday. The company has a market cap of $25.18 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 1.65 and a beta of 1.07. PPG Industries, Inc. has a 12 month low of $93.39 and a 12 month high of $133.43. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.58 and a quick ratio of 1.15. The stock’s 50-day moving average is $117.15 and its 200-day moving average is $113.95.
PPG Industries (NYSE:PPG – Get Free Report) last issued its earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.02). The firm had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.37 billion. PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.22 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Equities analysts anticipate that PPG Industries, Inc. will post 7.89 earnings per share for the current year.
PPG Industries Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be paid a $0.74 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from PPG Industries’s previous quarterly dividend of $0.71. PPG Industries’s payout ratio is 42.41%.
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.
See Also
- Five stocks we like better than PPG Industries
- Visa Just Put Hims & Hers in the Penalty Box—Here’s Why It Matters
- Treasury Yields Are Surging Again: 3 Stocks That Could Feel the Pain
- Snowflake Could Be Headed for New Highs Despite Insider Selling
- MongoDB Is Surging—And the Next Catalyst Is Almost Here
Receive News & Ratings for PPG Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PPG Industries and related companies with MarketBeat.com's FREE daily email newsletter.
