315,870 Shares in PPG Industries, Inc. $PPG Acquired by Vega Investment Solutions

Key Points

• Vega Investment Solutions acquired 315,870 shares of PPG Industries, valued at approximately $38.3 million, making PPG its fourth-largest holding and representing 5.4% of its portfolio.
• Institutional ownership remains high at 81.86%, with major investors including BlackRock, Pzena Investment Management, Bank of New York Mellon and Norges Bank also initiating or increasing positions.
• Analysts give PPG a consensus “Hold” rating with a $126 target price. The company narrowly missed quarterly EPS estimates but exceeded revenue expectations and raised its quarterly dividend to $0.74 per share.

Vega Investment Solutions bought a new position in PPG Industries, Inc. (NYSE:PPG - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 315,870 shares of the specialty chemicals company's stock, valued at approximately $38,312,000. PPG Industries accounts for 5.4% of Vega Investment Solutions' investment portfolio, making the stock its 4th largest holding. Vega Investment Solutions owned about 0.14% of PPG Industries at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PPG. BlackRock Inc. bought a new position in shares of PPG Industries during the 2nd quarter valued at about $2,856,392,000. Pzena Investment Management LLC acquired a new stake in PPG Industries during the 2nd quarter worth approximately $946,964,000. Bank of New York Mellon Corp acquired a new position in PPG Industries during the 2nd quarter worth approximately $318,870,000. Franklin Resources Inc. grew its stake in shares of PPG Industries by 48.9% during the 4th quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company's stock worth $716,256,000 after acquiring an additional 2,295,118 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of PPG Industries in the fourth quarter valued at approximately $209,355,000. 81.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PPG shares. Bank of America raised shares of PPG Industries from a "neutral" rating to a "buy" rating and raised their target price for the company from $127.00 to $134.00 in a research report on Friday, July 17th. BMO Capital Markets dropped their target price on PPG Industries from $140.00 to $138.00 and set an "outperform" rating on the stock in a report on Monday, July 6th. JPMorgan Chase & Co. decreased their price target on PPG Industries from $126.00 to $125.00 in a research note on Thursday, April 30th. The Goldman Sachs Group dropped their price objective on PPG Industries from $134.00 to $130.00 in a research note on Friday, May 1st. Finally, Royal Bank Of Canada decreased their target price on shares of PPG Industries from $129.00 to $122.00 and set a "sector perform" rating for the company in a research note on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $126.00.

PPG Industries Stock Down 0.3%

PPG stock opened at $113.28 on Tuesday. PPG Industries, Inc. has a 1-year low of $93.39 and a 1-year high of $133.43. The business's 50 day simple moving average is $117.15 and its 200 day simple moving average is $113.95. 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 firm has a market capitalization of $25.18 billion, a PE ratio of 16.23, a PEG ratio of 1.65 and a beta of 1.07.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.37 billion. PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.The company's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm earned $2.22 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, research analysts anticipate that PPG Industries, Inc. will post 7.89 EPS for the current year.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 10th will be given a dividend of $0.74 per share. 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 yield of 2.6%. The ex-dividend date of this dividend is Monday, August 10th. PPG Industries's payout ratio is 42.41%.

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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