Bank of Nova Scotia Invests $2.85 Million in PPG Industries, Inc. $PPG

Bank of Nova Scotia bought a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 23,498 shares of the specialty chemicals company's stock, valued at approximately $2,850,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Compass Financial Management LLC purchased a new position in PPG Industries in the second quarter valued at about $81,000. Elevation Point Wealth Partners LLC acquired a new position in PPG Industries in the second quarter valued at approximately $3,343,000. Daiichi Life Insurance Co. Ltd. bought a new position in PPG Industries during the 2nd quarter worth $252,000. Commerce Bank bought a new position in PPG Industries in the 2nd quarter worth about $2,342,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in PPG Industries in the 2nd quarter worth approximately $2,623,000. Hedge funds and other institutional investors own 81.86% of the company's stock.

PPG Industries Trading Up 0.6%

Shares of PPG opened at $114.33 on Thursday. The business's 50-day moving average price is $116.95 and its 200 day moving average price is $113.79. The stock has a market capitalization of $25.42 billion, a P/E ratio of 16.38, a P/E/G ratio of 1.65 and a beta of 1.07. PPG Industries, Inc. has a 1-year low of $93.39 and a 1-year high of $133.43. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72.

PPG Industries (NYSE:PPG - Get Free Report) last issued 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). 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 analyst estimates of $4.37 billion. During the same period last year, the business earned $2.22 EPS. The business's quarterly revenue was up 7.2% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Analysts expect that PPG Industries, Inc. will post 7.89 earnings per share for the current year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 10th will be issued a $0.74 dividend. 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 2.6%. PPG Industries's dividend payout ratio is presently 42.41%.

Analyst Ratings Changes

A number of brokerages recently weighed in on PPG. JPMorgan Chase & Co. cut their price objective on shares of PPG Industries from $126.00 to $125.00 in a research note on Thursday, April 30th. The Goldman Sachs Group decreased their target price on shares of PPG Industries from $134.00 to $130.00 in a research report on Friday, May 1st. BNP Paribas Exane boosted their price target on shares of PPG Industries from $115.00 to $116.00 in a research report on Thursday, April 30th. Weiss Ratings upgraded shares of PPG Industries from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, June 17th. Finally, Mizuho upped their target price on PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $126.00.

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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