Alpine Woods Capital Investors LLC Invests $3.99 Million in PPG Industries, Inc. $PPG

Alpine Woods Capital Investors LLC acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 32,912 shares of the specialty chemicals company's stock, valued at approximately $3,992,000.

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on PPG. BNP Paribas Exane raised their target price on shares of PPG Industries from $115.00 to $116.00 in a report on Thursday, April 30th. Wall Street Zen lowered shares of PPG Industries from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Bank of America raised PPG Industries from a "neutral" rating to a "buy" rating and raised their target price for the stock from $127.00 to $134.00 in a research note on Friday, July 17th. Mizuho increased their price objective on PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Wednesday, July 1st. Finally, Citigroup cut their price objective on PPG Industries from $125.00 to $121.00 and set a "neutral" rating on the stock in a research report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $126.00.

PPG Industries Trading Down 0.5%

Shares of NYSE PPG opened at $112.82 on Wednesday. PPG Industries, Inc. has a 1 year low of $93.39 and a 1 year high of $133.43. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.58 and a quick ratio of 1.15. The firm has a 50-day moving average of $117.53 and a 200 day moving average of $114.05. The stock has a market cap of $25.08 billion, a P/E ratio of 16.16, a price-to-earnings-growth ratio of 1.66 and a beta of 1.07.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share for the quarter, missing analysts' consensus estimates of $2.25 by ($0.02). PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.The business had revenue of $4.50 billion during the quarter, compared to analysts' expectations of $4.37 billion. During the same quarter last year, the company posted $2.22 EPS. PPG Industries's revenue for the quarter 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, sell-side analysts expect that PPG Industries, Inc. will post 7.89 EPS for the current fiscal year.

PPG Industries Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, August 10th. This represents a $2.96 annualized dividend and a yield of 2.6%. PPG Industries's payout ratio is currently 42.41%.

PPG Industries 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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