45,100 Shares in PPG Industries, Inc. $PPG Acquired by Thomist Capital Management LP

Thomist Capital Management LP acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 45,100 shares of the specialty chemicals company’s stock, valued at approximately $5,470,000. PPG Industries accounts for about 1.7% of Thomist Capital Management LP’s portfolio, making the stock its 19th largest position.

A number of other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in PPG Industries in the second quarter valued at $2,856,392,000. Pzena Investment Management LLC acquired a new position in shares of PPG Industries during the 2nd quarter worth $946,964,000. Bank of New York Mellon Corp purchased a new stake in shares of PPG Industries in the 2nd quarter worth about $318,870,000. Franklin Resources Inc. boosted its position in shares of PPG Industries by 48.9% in the 4th quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company’s stock worth $716,256,000 after buying an additional 2,295,118 shares in the last quarter. Finally, Norges Bank acquired a new stake in PPG Industries in the 4th quarter valued at about $209,355,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Trading Down 0.3%

Shares of PPG stock opened at $113.28 on Tuesday. The company has a market capitalization of $25.18 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 1.65 and a beta of 1.07. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average price of $117.15 and a 200 day moving average price of $113.95. PPG Industries, Inc. has a twelve month low of $93.39 and a twelve month high of $133.43.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.02). The firm had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.37 billion. PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.PPG Industries’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.22 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Research analysts forecast that PPG Industries, Inc. will post 7.89 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 10th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 2.6%. 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 (DPR) is 42.41%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Royal Bank Of Canada dropped their target price on shares of PPG Industries from $129.00 to $122.00 and set a “sector perform” rating for the company in a report on Thursday, July 30th. BMO Capital Markets lowered their price target on shares of PPG Industries from $140.00 to $138.00 and set an “outperform” rating on the stock in a research report on Monday, July 6th. Weiss Ratings raised shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. UBS Group cut their price objective on PPG Industries from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Finally, BNP Paribas Exane upped their target price on PPG Industries from $115.00 to $116.00 in a research note on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $126.00.

PPG Industries 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.