Assenagon Asset Management S.A. Increases Holdings in PPG Industries, Inc. $PPG

Key Points

• Assenagon Asset Management increased its PPG Industries stake by 199.1% in the second quarter, adding 148,812 shares to own 223,550 shares worth approximately $27.1 million. Institutional investors and hedge funds collectively own 81.86% of PPG.
• Analyst sentiment remains mixed, with seven Buy ratings and ten Holds. The average price target is $126, while targets range from $116 to $134.
• PPG reported quarterly revenue of $4.50 billion, exceeding expectations, though EPS of $2.23 narrowly missed estimates. The company also raised its quarterly dividend to $0.74 per share, equal to a 2.5% annualized yield.

Assenagon Asset Management S.A. lifted its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 199.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 223,550 shares of the specialty chemicals company's stock after purchasing an additional 148,812 shares during the quarter. Assenagon Asset Management S.A. owned about 0.10% of PPG Industries worth $27,114,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CNB Bank raised its position in PPG Industries by 1.8% in the fourth quarter. CNB Bank now owns 4,514 shares of the specialty chemicals company's stock valued at $463,000 after purchasing an additional 80 shares during the period. IFP Advisors Inc increased its holdings in PPG Industries by 2.7% during the 4th quarter. IFP Advisors Inc now owns 3,302 shares of the specialty chemicals company's stock worth $338,000 after purchasing an additional 87 shares during the period. Whittier Trust Co. raised its holdings in PPG Industries by 1.4% in the fourth quarter. Whittier Trust Co. now owns 6,658 shares of the specialty chemicals company's stock valued at $703,000 after acquiring an additional 89 shares in the last quarter. Evolve Private Wealth LLC increased its position in shares of PPG Industries by 3.2% in the 1st quarter. Evolve Private Wealth LLC now owns 2,929 shares of the specialty chemicals company's stock valued at $313,000 after purchasing an additional 92 shares during the last quarter. Finally, Insigneo Advisory Services LLC raised its holdings in shares of PPG Industries by 4.3% in the 4th quarter. Insigneo Advisory Services LLC now owns 2,234 shares of the specialty chemicals company's stock valued at $229,000 after purchasing an additional 92 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. UBS Group lowered their target price on shares of PPG Industries from $130.00 to $125.00 and set a "neutral" rating for the company in a research note on Thursday, July 30th. BNP Paribas Exane raised their price target on PPG Industries from $115.00 to $116.00 in a research note on Thursday, April 30th. Weiss Ratings raised PPG Industries from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, June 17th. Royal Bank Of Canada dropped their price target on shares of PPG Industries from $129.00 to $122.00 and set a "sector perform" rating on the stock in a research note on Thursday, July 30th. Finally, Bank of America upgraded shares of PPG Industries from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $127.00 to $134.00 in a research report on Friday, July 17th. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $126.00.

PPG Industries Stock Up 0.0%

PPG opened at $119.73 on Monday. The stock has a market capitalization of $26.62 billion, a P/E ratio of 17.15, a P/E/G ratio of 1.74 and a beta of 1.07. PPG Industries, Inc. has a 12 month low of $93.39 and a 12 month high of $133.43. The business has a 50 day simple moving average of $117.37 and a 200-day simple moving average of $113.93. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.58 and a quick ratio of 1.15.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.25 by ($0.02). The company had revenue of $4.50 billion during the quarter, compared to analysts' expectations of $4.37 billion. PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. The business's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.22 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, equities analysts anticipate that PPG Industries, Inc. will post 7.89 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders 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. The ex-dividend date is Monday, August 10th. This represents a $2.96 annualized dividend and a yield of 2.5%. PPG Industries's payout ratio is 40.69%.

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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