Northwestern Mutual Wealth Management Co. Acquires Shares of 21,630 PPG Industries, Inc. $PPG

Northwestern Mutual Wealth Management Co. bought a new stake in PPG Industries, Inc. (NYSE:PPG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 21,630 shares of the specialty chemicals company’s stock, valued at approximately $2,623,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Varma Mutual Pension Insurance Co purchased a new position in shares of PPG Industries in the 2nd quarter valued at $16,360,000. Westpac Banking Corp acquired a new position in PPG Industries in the second quarter valued at $141,000. Korea Investment CORP acquired a new position in PPG Industries in the second quarter valued at $10,878,000. EP Wealth Advisors LLC purchased a new position in shares of PPG Industries during the second quarter worth about $713,000. Finally, Callan Family Office LLC acquired a new stake in shares of PPG Industries during the second quarter worth about $259,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Price Performance

PPG Industries stock opened at $113.28 on Tuesday. The company has a market cap of $25.18 billion, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 1.65 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 business has a fifty day moving average of $117.15 and a two-hundred day moving average of $113.95. 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 posted its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share 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 analyst estimates of $4.37 billion. PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the company earned $2.22 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, analysts predict that PPG Industries, Inc. will post 7.89 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 10th will be paid a dividend of $0.74 per share. 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. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.6%. PPG Industries’s dividend payout ratio is 42.41%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Royal Bank Of Canada cut 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. Citigroup decreased their price objective on PPG Industries from $125.00 to $121.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. BMO Capital Markets lowered their target price on shares of PPG Industries from $140.00 to $138.00 and set an “outperform” rating on the stock in a research report on Monday, July 6th. Bank of America upgraded shares of PPG Industries from a “neutral” rating to a “buy” rating and upped their price target for the company from $127.00 to $134.00 in a research report on Friday, July 17th. Finally, Weiss Ratings raised shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Seven equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average 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.