Redwood Investment Management LLC Takes Position in PPG Industries, Inc. $PPG

Redwood Investment Management LLC purchased a new position in PPG Industries, Inc. (NYSE:PPG) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 7,296 shares of the specialty chemicals company’s stock, valued at approximately $885,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PPG. Cooke & Bieler LP increased its stake in PPG Industries by 16.7% in the fourth quarter. Cooke & Bieler LP now owns 1,616,672 shares of the specialty chemicals company’s stock worth $165,644,000 after purchasing an additional 231,537 shares during the period. Bank of Nova Scotia bought a new stake in shares of PPG Industries during the second quarter worth $2,850,000. Equity Investment Corp boosted its stake in shares of PPG Industries by 3.4% during the fourth quarter. Equity Investment Corp now owns 995,323 shares of the specialty chemicals company’s stock valued at $101,981,000 after purchasing an additional 32,337 shares during the period. ProShare Advisors LLC boosted its stake in shares of 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 valued at $163,959,000 after purchasing an additional 98,430 shares during the period. Finally, Entropy Technologies LP grew its holdings 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 worth $6,330,000 after purchasing an additional 27,493 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

PPG has been the topic of several recent analyst reports. Mizuho raised their price target on shares of PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Royal Bank Of Canada lowered 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. JPMorgan Chase & Co. dropped their target price on shares of PPG Industries from $126.00 to $125.00 in a research note on Thursday, April 30th. Citigroup reduced their target price on shares of PPG Industries from $125.00 to $121.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Finally, Bank of America raised 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 note on Friday, July 17th. Seven equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $126.00.

PPG Industries Trading Down 0.8%

NYSE PPG opened at $113.45 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.58. The company has a market capitalization of $25.22 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 1.66 and a beta of 1.07. The company’s 50-day simple moving average is $116.85 and its two-hundred day simple moving average is $113.70. PPG Industries, Inc. has a one year low of $93.39 and a one year 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 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 business had revenue of $4.50 billion during the quarter, compared to analysts’ expectations of $4.37 billion. During the same period in the previous year, the company posted $2.22 EPS. PPG Industries’s revenue for the quarter was up 7.2% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Equities analysts forecast that PPG Industries, Inc. will post 7.89 EPS for the current fiscal year.

PPG Industries Increases Dividend

The firm 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 $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 2.6%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, August 10th. PPG Industries’s payout ratio is presently 42.41%.

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.