Heartland Advisors Inc. Buys Shares of 64,765 PPG Industries, Inc. $PPG

Heartland Advisors Inc. bought a new position in shares of PPG Industries, Inc. (NYSE:PPG) during the 2nd quarter, Holdings Channel reports. The fund bought 64,765 shares of the specialty chemicals company’s stock, valued at approximately $7,855,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Meeder Asset Management Inc. purchased a new position in shares of PPG Industries in the 2nd quarter valued at about $26,000. Resources Management Corp CT ADV boosted its holdings in PPG Industries by 900.0% during 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 in the last quarter. Quarry LP acquired a new position in PPG Industries during the third quarter worth about $26,000. Keating Financial Advisory Services Inc. acquired a new position in PPG Industries during the second quarter worth about $28,000. Finally, Silvant Capital Management LLC purchased a new position in PPG Industries in the second quarter valued at about $30,000. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Performance

NYSE:PPG opened at $113.81 on Friday. 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 company has a market capitalization of $25.30 billion, a P/E ratio of 16.31, a price-to-earnings-growth ratio of 1.63 and a beta of 1.07. The firm has a 50-day moving average price of $117.31 and a two-hundred day moving average price of $114.01. PPG Industries, Inc. has a twelve month low of $93.39 and a twelve month high of $133.43.

PPG Industries (NYSE:PPG) last announced 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 business had revenue of $4.50 billion during the quarter, compared to analysts’ expectations of $4.37 billion. PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the company earned $2.22 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, research analysts expect that PPG Industries, Inc. will post 7.89 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 10th will be paid a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 10th. This is an increase from PPG Industries’s previous quarterly dividend of $0.71. PPG Industries’s dividend payout ratio is currently 42.41%.

Analyst Upgrades and Downgrades

PPG has been the subject of a number of research reports. Bank of America upgraded 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. Mizuho upped their price target on PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Royal Bank Of Canada dropped their price objective on PPG Industries from $129.00 to $122.00 and set a “sector perform” rating for the company in a research note on Thursday, July 30th. UBS Group reduced their price objective on PPG Industries from $130.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Finally, The Goldman Sachs Group decreased their target price on PPG Industries from $134.00 to $130.00 in a research report on Friday, May 1st. Seven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, PPG Industries currently has a consensus rating of “Hold” and an average 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.