Bank of New York Mellon Corp Has $267.99 Million Stock Holdings in PPG Industries, Inc. $PPG

Key Points

• Bank of New York Mellon increased its stake in PPG Industries by 85.6% in the first quarter, ending with 2.51 million shares valued at about $267.99 million.
• Several analysts recently turned more positive on the stock, including upgrades from Wall Street Zen and Bank of America, while the consensus rating remains Hold with an average price target of $126.13.
• PPG reported stronger-than-expected quarterly results, with EPS of $1.83 and revenue of $3.93 billion, and also raised its quarterly dividend to $0.74 per share.

Bank of New York Mellon Corp lifted its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 85.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,507,399 shares of the specialty chemicals company's stock after purchasing an additional 1,156,078 shares during the period. Bank of New York Mellon Corp owned 1.12% of PPG Industries worth $267,991,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wall Street Zen raised shares of PPG Industries from a "hold" rating to a "buy" rating in a research report on Saturday. Mizuho lifted their price target 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. Royal Bank Of Canada increased their price objective on shares of PPG Industries from $119.00 to $129.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 8th. Bank of America upgraded PPG Industries from a "neutral" rating to a "buy" rating and raised their target price for the company from $127.00 to $134.00 in a research note on Friday. Finally, Citigroup upped their price target on PPG Industries from $114.00 to $125.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 24th. Seven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $126.13.

PPG Industries Stock Down 1.1%

PPG stock opened at $117.39 on Friday. The stock has a market cap of $26.17 billion, a P/E ratio of 16.75, a P/E/G ratio of 1.73 and a beta of 1.05. The company has a current ratio of 1.61, a quick ratio of 1.17 and a debt-to-equity ratio of 0.78. The stock's fifty day simple moving average is $114.79 and its two-hundred day simple moving average is $112.87. 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 posted its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.05. The firm had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.85 billion. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The company's revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the company earned $1.72 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Analysts expect that PPG Industries, Inc. will post 7.92 EPS for the current year.

PPG Industries Increases Dividend

The firm 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 $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from PPG Industries's previous quarterly dividend of $0.71. The ex-dividend date is Monday, August 10th. PPG Industries's dividend payout ratio (DPR) is 40.51%.

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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