2,299,986 Shares in PPG Industries, Inc. $PPG Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 2,299,986 shares of PPG Industries during the second quarter, valued at approximately $279 million and representing about 1.03% of the company. Institutional investors collectively own 81.86% of PPG.
• PPG reported quarterly revenue of $4.50 billion, up 7.2% year over year, while EPS of $2.23 narrowly missed analyst estimates. The company maintained fiscal 2026 EPS guidance of $7.70–$8.10.
• PPG increased its quarterly dividend from $0.71 to $0.74 per share, equivalent to an annualized $2.96 and a 2.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $126.44.

Bank of America Corp DE acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,299,986 shares of the specialty chemicals company's stock, valued at approximately $278,965,000. Bank of America Corp DE owned approximately 1.03% of PPG Industries as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Caisse de depot et placement du Quebec bought a new stake in PPG Industries in the second quarter valued at approximately $32,028,000. Man Group plc bought a new stake in shares of PPG Industries in the second quarter worth about $2,804,000. Invst LLC bought a new stake in shares of PPG Industries in the second quarter worth about $902,000. First Bancorp Inc ME purchased a new position in PPG Industries during the 2nd quarter valued at about $235,000. Finally, Jupiter Topco LLC purchased a new position in PPG Industries during the 2nd quarter valued at about $4,036,000. Institutional investors own 81.86% of the company's stock.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $104.90 on Thursday. The company has a market capitalization of $23.32 billion, a PE ratio of 15.03, a PEG ratio of 1.70 and a beta of 1.07. 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, Inc. has a 1-year low of $93.39 and a 1-year high of $133.43. The business has a fifty day moving average price of $113.45 and a 200-day moving average price of $111.86.

PPG Industries (NYSE:PPG - Get Free Report) last posted 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 net margin of 9.57% and a return on equity of 21.07%. The firm had revenue of $4.50 billion for the quarter, compared to analysts' expectations of $4.37 billion. During the same quarter in the previous year, the company earned $2.22 EPS. The company's quarterly 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, equities analysts expect 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 was paid on Friday, September 11th. Investors of record on Monday, August 10th were given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 2.8%. This is a boost from PPG Industries's previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Monday, August 10th. PPG Industries's payout ratio is 42.41%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PPG. Citigroup dropped 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. Wall Street Zen cut PPG Industries from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Royal Bank Of Canada decreased their target price on PPG Industries from $129.00 to $122.00 and set a "sector perform" rating for the company in a report on Thursday, July 30th. KeyCorp started coverage on PPG Industries in a research note on Friday, September 11th. They issued an "overweight" rating and a $133.00 price target for the company. Finally, UBS Group cut their price target on shares of PPG Industries from $130.00 to $125.00 and set a "neutral" rating on the stock in a report on Thursday, July 30th. Eight investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, PPG Industries has a consensus rating of "Hold" and an average price target of $126.44.

PPG Industries Profile

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. The company supplies protective and decorative coatings used in automotive, aerospace, industrial, marine, packaging and consumer applications. Its products are designed to protect surfaces, improve appearance and provide specialized performance characteristics such as corrosion resistance and durability.

PPG's portfolio includes automotive refinish coatings, original-equipment automotive coatings, aerospace coatings, industrial and protective coatings, packaging coatings, and architectural paints and coatings.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.