45,100 Shares in PPG Industries, Inc. $PPG Bought by Thomist Capital Management LP

Key Points

• Thomist Capital Management initiated a position in PPG Industries by purchasing 45,100 shares valued at approximately $5.47 million. Institutional investors collectively own 81.86% of PPG’s outstanding stock.
• PPG reported quarterly revenue of $4.50 billion, up 7.2% year over year and above analyst expectations, but earnings of $2.23 per share narrowly missed estimates. The stock opened at $113.28, below its 50-day average of $117.15.
• PPG raised its quarterly dividend to $0.74 per share, equivalent to an annualized $2.96 payout and a 2.6% yield. Analysts maintain a consensus “Hold” rating with an average price target of $126.

Thomist Capital Management LP acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 45,100 shares of the specialty chemicals company's stock, valued at approximately $5,470,000. PPG Industries comprises about 1.7% of Thomist Capital Management LP's investment portfolio, making the stock its 19th largest position.

A number of other institutional investors and hedge funds have also made changes to their positions in PPG. Meeder Asset Management Inc. acquired a new stake in shares of PPG Industries during the second quarter worth about $26,000. Resources Management Corp CT ADV grew its holdings in shares of PPG Industries by 900.0% during the fourth quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company's stock worth $26,000 after buying an additional 225 shares during the last quarter. Quarry LP acquired a new position in PPG Industries in the 3rd quarter valued at about $26,000. Keating Financial Advisory Services Inc. acquired a new position in PPG Industries in the 2nd quarter valued at about $28,000. Finally, Silvant Capital Management LLC purchased a new stake in PPG Industries during the 2nd quarter valued at approximately $30,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Trading Down 0.3%

NYSE:PPG opened at $113.28 on Tuesday. The stock has a fifty day moving average price of $117.15 and a two-hundred day moving average price of $113.95. The stock has a market capitalization of $25.18 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 1.65 and a beta of 1.07. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.58. PPG Industries, Inc. has a 1 year low of $93.39 and a 1 year high of $133.43.

PPG Industries (NYSE:PPG - Get Free Report) last issued its earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 EPS 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 company 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 firm posted $2.22 earnings per share. 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. As a group, sell-side analysts anticipate that PPG Industries, Inc. will post 7.89 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The business also recently disclosed 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 is an increase 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 presently 42.41%.

Analysts Set New Price Targets

PPG has been the topic of several analyst reports. UBS Group lowered their target price on PPG Industries from $130.00 to $125.00 and set a "neutral" rating on the stock in a research note on Thursday, July 30th. The Goldman Sachs Group decreased their price target on PPG Industries from $134.00 to $130.00 in a report on Friday, May 1st. Mizuho boosted their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Wednesday, July 1st. Citigroup cut their price objective on shares of PPG Industries from $125.00 to $121.00 and set a "neutral" rating for the company in a research report on Thursday, July 30th. Finally, Weiss Ratings upgraded shares of PPG Industries from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, June 17th. Seven 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 currently has a consensus rating of "Hold" and an average target price of $126.00.

About PPG Industries

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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