Amundi Boosts Stake in PPG Industries, Inc. $PPG

Key Points

• Amundi increased its PPG Industries stake by 1.9% in the second quarter, bringing its holdings to 761,243 shares valued at approximately $92.3 million. Institutional investors collectively own 81.86% of the company.
• Analyst sentiment is mixed, with seven Buy ratings and ten Hold ratings; the stock has an average rating of Hold and an average price target of $126.
• PPG reported quarterly revenue of $4.50 billion, up 7.2% year over year, though earnings of $2.23 per share slightly missed estimates. The company also raised its quarterly dividend to $0.74 per share, representing a 2.8% yield.

Amundi grew its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 1.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 761,243 shares of the specialty chemicals company's stock after acquiring an additional 14,449 shares during the quarter. Amundi owned about 0.34% of PPG Industries worth $92,331,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new position in PPG Industries in the second quarter valued at about $26,000. Resources Management Corp CT ADV boosted its position in shares of PPG Industries by 900.0% in 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 period. Quarry LP acquired a new stake in shares of PPG Industries in the third quarter valued at about $26,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of PPG Industries in the second quarter valued at about $28,000. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in shares of PPG Industries during the 2nd quarter valued at about $29,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PPG has been the subject of a number of analyst reports. Mizuho upped their price target on PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Wednesday, July 1st. Wall Street Zen lowered shares of PPG Industries from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Weiss Ratings raised shares of PPG Industries from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, June 17th. 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. Finally, Bank of America raised shares of PPG Industries from a "neutral" rating to a "buy" rating and raised their price target for the company from $127.00 to $134.00 in a report on Friday, July 17th. Seven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $126.00.

PPG Industries Stock Performance

Shares of PPG stock opened at $107.29 on Thursday. 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 one year low of $93.39 and a one year high of $133.43. The company's 50-day simple moving average is $115.13 and its 200-day simple moving average is $112.55. The stock has a market capitalization of $23.85 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.78 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 the consensus estimate of $2.25 by ($0.02). PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. The firm had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $4.37 billion. During the same period in the prior year, the firm earned $2.22 earnings per share. The firm's quarterly revenue 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. Equities analysts anticipate that PPG Industries, Inc. will post 7.89 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 given a dividend of $0.74 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $2.96 annualized dividend and a dividend yield of 2.8%. This is an increase from PPG Industries's previous quarterly dividend of $0.71. PPG Industries's dividend payout ratio is currently 42.41%.

PPG Industries Profile

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. The company supplies protective and decorative coatings used in automotive, aerospace, industrial, marine, packaging and consumer applications. Its products are designed to protect surfaces, improve appearance and provide specialized performance characteristics such as corrosion resistance and durability.

PPG's portfolio includes automotive refinish coatings, original-equipment automotive coatings, aerospace coatings, industrial and protective coatings, packaging coatings, and architectural paints and coatings.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.