The Manufacturers Life Insurance Company Acquires New Stake in PPG Industries, Inc. $PPG

The Manufacturers Life Insurance Company bought a new position in PPG Industries, Inc. (NYSE:PPG) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 112,489 shares of the specialty chemicals company’s stock, valued at approximately $13,644,000. The Manufacturers Life Insurance Company owned 0.05% of PPG Industries at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of PPG Industries during the 3rd quarter worth approximately $26,000. Resources Management Corp CT ADV grew 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 valued at $26,000 after purchasing an additional 225 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in PPG Industries in the 2nd quarter valued at $26,000. Keating Financial Advisory Services Inc. acquired a new stake in PPG Industries in the 2nd quarter valued at $28,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in PPG Industries during the 4th quarter worth about $30,000. Institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Up 0.5%

PPG Industries stock opened at $114.06 on Friday. The firm has a market capitalization of $25.36 billion, a PE ratio of 16.34, a P/E/G ratio of 1.65 and a beta of 1.07. The company’s 50-day moving average is $116.77 and its 200-day moving average is $113.70. PPG Industries, Inc. has a fifty-two week low of $93.39 and a fifty-two week 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.

PPG Industries (NYSE:PPG) last issued its 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 during the quarter, compared to analyst estimates of $4.37 billion. PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $2.22 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Sell-side analysts anticipate that PPG Industries, Inc. will post 7.89 earnings per share for the current year.

PPG Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be given a $0.74 dividend. The ex-dividend date of this dividend is Monday, August 10th. This is a positive change 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%. PPG Industries’s payout ratio is 42.41%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PPG. The Goldman Sachs Group decreased their price objective on PPG Industries from $134.00 to $130.00 in a report on Friday, May 1st. UBS Group dropped their target price on PPG Industries from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Royal Bank Of Canada reduced their price target on 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. Weiss Ratings upgraded PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Finally, Bank of America raised PPG Industries from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $127.00 to $134.00 in a research report on Friday, July 17th. Seven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, PPG Industries 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.