Longfellow Investment Management Co. LLC purchased a new stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 33,773 shares of the specialty chemicals company's stock, valued at approximately $4,096,000. PPG Industries accounts for approximately 0.8% of Longfellow Investment Management Co. LLC's investment portfolio, making the stock its 25th biggest holding.
A number of other hedge funds have also recently modified their holdings of PPG. Nvest Wealth Strategies Inc. purchased a new stake in PPG Industries in the 4th quarter worth approximately $505,000. Cooke & Bieler LP boosted its holdings in PPG Industries by 16.7% in the 4th quarter. Cooke & Bieler LP now owns 1,616,672 shares of the specialty chemicals company's stock worth $165,644,000 after buying an additional 231,537 shares during the period. Equity Investment Corp increased its stake in PPG Industries by 3.4% in the 4th quarter. Equity Investment Corp now owns 995,323 shares of the specialty chemicals company's stock worth $101,981,000 after buying an additional 32,337 shares in the last quarter. Entropy Technologies LP increased its stake in PPG Industries by 80.2% in the 4th quarter. Entropy Technologies LP now owns 61,784 shares of the specialty chemicals company's stock worth $6,330,000 after buying an additional 27,493 shares in the last quarter. Finally, ProShare Advisors LLC raised its holdings in 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 acquiring an additional 98,430 shares during the period. Institutional investors own 81.86% of the company's stock.
PPG Industries Trading Down 0.1%
Shares of PPG Industries stock opened at $113.98 on Monday. PPG Industries, Inc. has a twelve month low of $93.39 and a twelve month high of $133.43. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.72. The business has a 50-day moving average price of $117.59 and a 200-day moving average price of $114.04. The firm has a market cap of $25.34 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 1.66 and a beta of 1.07.
PPG Industries (NYSE:PPG - Get Free Report) last posted its 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). The firm had revenue of $4.50 billion during the quarter, compared to analysts' expectations of $4.37 billion. PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.PPG Industries's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.22 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Equities research analysts anticipate that PPG Industries, Inc. will post 7.89 EPS for the current fiscal 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 $0.74 dividend. This is a boost from PPG Industries's previous quarterly dividend of $0.71. This represents a $2.96 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, August 10th. PPG Industries's dividend payout ratio (DPR) is presently 42.41%.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the company. Wall Street Zen downgraded PPG Industries from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings raised PPG Industries from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, June 17th. UBS Group lowered their price target on PPG Industries from $130.00 to $125.00 and set a "neutral" rating on the stock in a report on Thursday, July 30th. JPMorgan Chase & Co. dropped their price target on PPG Industries from $126.00 to $125.00 in a research note on Thursday, April 30th. Finally, Bank of America raised shares of PPG Industries from a "neutral" rating to a "buy" rating and increased their price objective for the company from $127.00 to $134.00 in a report on Friday, July 17th. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $126.00.
Get Our Latest Stock Report on PPG
PPG Industries Company Profile
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding PPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPG Industries, Inc. (NYSE:PPG - Free Report).
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