2,628,989 Shares in PPG Industries, Inc. $PPG Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,628,989 shares of the specialty chemicals company's stock, valued at approximately $318,870,000. Bank of New York Mellon Corp owned approximately 1.18% of PPG Industries at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PPG. CNB Bank grew its position in shares of PPG Industries by 1.8% during the 4th quarter. CNB Bank now owns 4,514 shares of the specialty chemicals company's stock worth $463,000 after buying an additional 80 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of PPG Industries by 2.7% in the fourth quarter. IFP Advisors Inc now owns 3,302 shares of the specialty chemicals company's stock valued at $338,000 after acquiring an additional 87 shares in the last quarter. Evolve Private Wealth LLC raised its holdings in shares of PPG Industries by 3.2% in the first quarter. Evolve Private Wealth LLC now owns 2,929 shares of the specialty chemicals company's stock valued at $313,000 after acquiring an additional 92 shares in the last quarter. Insigneo Advisory Services LLC lifted its stake in PPG Industries by 4.3% in the fourth quarter. Insigneo Advisory Services LLC now owns 2,234 shares of the specialty chemicals company's stock worth $229,000 after acquiring an additional 92 shares during the period. Finally, OMERS ADMINISTRATION Corp lifted its stake in PPG Industries by 1.1% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 8,533 shares of the specialty chemicals company's stock worth $874,000 after acquiring an additional 92 shares during the period. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Trading Up 1.2%

NYSE:PPG opened at $113.81 on Friday. PPG Industries, Inc. has a 12 month low of $93.39 and a 12 month high of $133.43. The firm has a fifty day simple moving average of $117.31 and a 200-day simple moving average of $114.01. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $25.30 billion, a P/E ratio of 16.31, a PEG ratio of 1.63 and a beta of 1.07.

PPG Industries (NYSE:PPG - Get Free Report) last released 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%. PPG Industries's revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.22 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, equities research analysts anticipate that PPG Industries, Inc. will post 7.89 earnings per share for the current year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 10th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend 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 dividend payout ratio is presently 42.41%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PPG shares. UBS Group lowered their price target on shares of PPG Industries from $130.00 to $125.00 and set a "neutral" rating for the company in a research report on Thursday, July 30th. BMO Capital Markets cut their price objective on shares of PPG Industries from $140.00 to $138.00 and set an "outperform" rating on the stock in a report on Monday, July 6th. BNP Paribas Exane boosted their price objective on shares of PPG Industries from $115.00 to $116.00 in a research note on Thursday, April 30th. Wall Street Zen lowered PPG Industries from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Finally, Bank of America raised PPG Industries from a "neutral" rating to a "buy" rating and increased their target price for the company from $127.00 to $134.00 in a research report on Friday, July 17th. Seven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $126.00.

PPG Industries Company 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.

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