Cibc World Market Inc. Takes Position in PPG Industries, Inc. $PPG

Cibc World Market Inc. acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 32,081 shares of the specialty chemicals company’s stock, valued at approximately $3,891,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cooke & Bieler LP lifted its stake in PPG Industries by 16.7% in the 4th quarter. Cooke & Bieler LP now owns 1,616,672 shares of the specialty chemicals company’s stock valued at $165,644,000 after purchasing an additional 231,537 shares during the last quarter. Equity Investment Corp raised its stake in PPG Industries by 3.4% in the fourth quarter. Equity Investment Corp now owns 995,323 shares of the specialty chemicals company’s stock valued at $101,981,000 after buying an additional 32,337 shares during the period. ProShare Advisors LLC boosted its position in PPG Industries by 6.6% during the fourth quarter. ProShare Advisors LLC now owns 1,600,226 shares of the specialty chemicals company’s stock worth $163,959,000 after purchasing an additional 98,430 shares during the period. Entropy Technologies LP raised its position in shares of PPG Industries by 80.2% in the fourth quarter. Entropy Technologies LP now owns 61,784 shares of the specialty chemicals company’s stock valued at $6,330,000 after purchasing an additional 27,493 shares during the period. Finally, North Dakota State Investment Board bought a new position in shares of PPG Industries in the fourth quarter valued at about $1,393,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Trading Up 0.6%

Shares of PPG Industries stock opened at $114.33 on Thursday. The firm has a 50-day moving average of $116.95 and a 200-day moving average of $113.79. The stock has a market cap of $25.42 billion, a PE ratio of 16.38, a PEG ratio of 1.65 and a beta of 1.07. PPG Industries, Inc. has a 52-week low of $93.39 and a 52-week high of $133.43. 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 (NYSE:PPG) last released its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.02). PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.The business had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same period in the prior year, the business posted $2.22 earnings per share. PPG Industries’s revenue was up 7.2% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, sell-side analysts forecast that PPG Industries, Inc. will post 7.89 EPS for the current year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders 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 dividend yield of 2.6%. The ex-dividend date is Monday, August 10th. This is a boost from PPG Industries’s previous quarterly dividend of $0.71. PPG Industries’s dividend payout ratio (DPR) is currently 42.41%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PPG. BMO Capital Markets cut their target price on shares of PPG Industries from $140.00 to $138.00 and set an “outperform” rating for the company in a research note on Monday, July 6th. The Goldman Sachs Group lowered their price target on shares of PPG Industries from $134.00 to $130.00 in a report on Friday, May 1st. Royal Bank Of Canada cut their price objective on shares of PPG Industries from $129.00 to $122.00 and set a “sector perform” rating for the company in a research report on Thursday, July 30th. Mizuho boosted their price objective on PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Finally, Weiss Ratings raised PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Seven analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $126.00.

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.