Haverford Trust Co Purchases New Position in PPG Industries, Inc. $PPG

Haverford Trust Co purchased a new stake in PPG Industries, Inc. (NYSE:PPG) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,475 shares of the specialty chemicals company’s stock, valued at approximately $785,000.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of PPG Industries during the second quarter valued at $2,856,392,000. State Street Corp grew its holdings in shares of PPG Industries by 4.6% in the 4th quarter. State Street Corp now owns 12,829,677 shares of the specialty chemicals company’s stock worth $1,314,529,000 after purchasing an additional 565,523 shares during the last quarter. Pzena Investment Management LLC bought a new stake in shares of PPG Industries in the 2nd quarter worth about $946,964,000. Franklin Resources Inc. increased its position in shares of PPG Industries by 48.9% during the 4th quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company’s stock worth $716,256,000 after purchasing an additional 2,295,118 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its position in shares of PPG Industries by 0.4% during the 4th quarter. First Eagle Investment Management LLC now owns 6,290,622 shares of the specialty chemicals company’s stock worth $644,537,000 after purchasing an additional 26,793 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Performance

Shares of NYSE:PPG opened at $113.81 on Friday. The business has a fifty day moving average of $117.31 and a 200-day moving average of $114.01. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.58. PPG Industries, Inc. has a twelve month low of $93.39 and a twelve month high of $133.43. The firm has a market cap of $25.30 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 1.65 and a beta of 1.07.

PPG Industries (NYSE:PPG) last issued 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). PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.The company had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same quarter last year, the company earned $2.22 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, equities research analysts predict that PPG Industries, Inc. will post 7.89 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 $0.74 dividend. This is an increase from PPG Industries’s previous quarterly dividend of $0.71. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 10th. PPG Industries’s dividend payout ratio (DPR) is 42.41%.

Analysts Set New Price Targets

A number of research firms have commented on PPG. Wall Street Zen lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. BMO Capital Markets dropped their price objective on shares of PPG Industries from $140.00 to $138.00 and set an “outperform” rating for the company in a report on Monday, July 6th. UBS Group dropped their price objective on shares of PPG Industries from $130.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Royal Bank Of Canada cut 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 research note on Thursday, July 30th. Finally, The Goldman Sachs Group reduced their target price on PPG Industries from $134.00 to $130.00 in a report on Friday, May 1st. Seven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $126.00.

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.