Empowered Funds LLC Purchases New Stake in PPG Industries, Inc. $PPG

Empowered Funds LLC bought a new stake in PPG Industries, Inc. (NYSE:PPG) during the second quarter, HoldingsChannel reports. The institutional investor bought 27,527 shares of the specialty chemicals company’s stock, valued at approximately $3,339,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new stake in shares of PPG Industries during the 2nd quarter worth approximately $26,000. Keating Financial Advisory Services Inc. purchased a new position in PPG Industries in the second quarter valued at approximately $28,000. Silvant Capital Management LLC bought a new position in PPG Industries during the second quarter valued at $30,000. Quarry LP bought a new position in PPG Industries during the third quarter valued at $26,000. Finally, Resources Management Corp CT ADV increased its position in PPG Industries by 900.0% in the fourth quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 225 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PPG has been the topic of a number of recent research reports. Royal Bank Of Canada dropped their price target on PPG Industries from $129.00 to $122.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 30th. Wall Street Zen lowered PPG Industries from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. BMO Capital Markets lowered their price objective on PPG Industries from $140.00 to $138.00 and set an “outperform” rating on the stock in a research note on Monday, July 6th. Mizuho upped their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Finally, Weiss Ratings upgraded shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $126.00.

PPG Industries Price Performance

PPG Industries stock opened at $109.47 on Wednesday. The firm has a market capitalization of $24.34 billion, a P/E ratio of 15.68, a PEG ratio of 1.63 and a beta of 1.07. PPG Industries, Inc. has a one year low of $93.39 and a one year 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 business has a fifty day moving average price of $116.47 and a 200-day moving average price of $113.33.

PPG Industries (NYSE:PPG) last released its quarterly earnings data 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 company had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.37 billion. PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. The business’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 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, equities research analysts forecast that PPG Industries, Inc. will post 7.88 EPS for the current year.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be given a dividend of $0.74 per share. This is a boost from PPG Industries’s previous quarterly dividend of $0.71. This represents a $2.96 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Monday, August 10th. PPG Industries’s dividend payout ratio (DPR) is currently 42.41%.

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.