Alyeska Investment Group L.P. Invests $56.73 Million in PPG Industries, Inc. $PPG

Key Points

• Alyeska Investment Group purchased 467,754 shares of PPG Industries worth approximately $56.7 million, representing about 0.21% of the company. Institutional investors collectively own 81.86% of PPG.
• Analyst sentiment remains mixed, with seven Buy ratings and ten Hold ratings, resulting in a consensus Hold rating and an average price target of $126, above the reported $114.06 share price.
• PPG reported quarterly EPS of $2.23, slightly below estimates, while revenue rose 7.2% year over year to $4.50 billion. The company also increased its quarterly dividend to $0.74 per share, equivalent to a 2.6% annual yield.

Alyeska Investment Group L.P. purchased a new stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 467,754 shares of the specialty chemicals company's stock, valued at approximately $56,734,000. Alyeska Investment Group L.P. owned about 0.21% of PPG Industries at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. New Mexico Educational Retirement Board grew its position in PPG Industries by 7.8% in the second quarter. New Mexico Educational Retirement Board now owns 11,118 shares of the specialty chemicals company's stock worth $1,349,000 after acquiring an additional 800 shares in the last quarter. Royal London Asset Management Ltd. raised its holdings in shares of PPG Industries by 2.2% during the 2nd quarter. Royal London Asset Management Ltd. now owns 67,696 shares of the specialty chemicals company's stock valued at $8,211,000 after purchasing an additional 1,469 shares in the last quarter. Mufg Securities Americas Inc. lifted its stake in shares of PPG Industries by 8.1% in the 2nd quarter. Mufg Securities Americas Inc. now owns 6,714 shares of the specialty chemicals company's stock valued at $814,000 after purchasing an additional 505 shares during the last quarter. Nissay Asset Management Corp Japan boosted its holdings in PPG Industries by 3.2% in the second quarter. Nissay Asset Management Corp Japan now owns 31,225 shares of the specialty chemicals company's stock worth $3,787,000 after purchasing an additional 959 shares in the last quarter. Finally, Navellier & Associates Inc. bought a new stake in PPG Industries in the second quarter worth $218,000. Institutional investors and hedge funds own 81.86% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Wall Street Zen lowered shares of PPG Industries from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Mizuho raised 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. Bank of America upgraded PPG Industries from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $127.00 to $134.00 in a research report on Friday, July 17th. Citigroup reduced their target price on shares of PPG Industries from $125.00 to $121.00 and set a "neutral" rating for the company in a research note on Thursday, July 30th. Finally, UBS Group decreased their price objective 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. Seven analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $126.00.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $114.06 on Monday. The company has a market cap of $25.36 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.66 and a beta of 1.07. PPG Industries, Inc. has a one year low of $93.39 and a one 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 simple moving average of $116.77 and a 200 day simple moving average of $113.60.

PPG Industries (NYSE:PPG - Get Free Report) last released 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). The business had revenue of $4.50 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business earned $2.22 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Research analysts predict that PPG Industries, Inc. will post 7.88 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 10th will be paid a dividend of $0.74 per share. This is an increase 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 dividend on an annualized basis and a yield of 2.6%. PPG Industries's dividend payout ratio (DPR) is currently 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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