Beacon Pointe Advisors LLC Acquires New Stake in PPG Industries, Inc. $PPG

Key Points

• Beacon Pointe Advisors acquired 13,658 shares of PPG Industries during the second quarter, valued at approximately $1.66 million. Institutional investors now own 81.86% of the company.
• Analysts maintain a consensus “Hold” rating on PPG, with seven Buy ratings and ten Hold ratings and an average price target of $126.
• PPG reported quarterly revenue of $4.50 billion, exceeding estimates, though earnings per share slightly missed expectations. The company also raised its quarterly dividend to $0.74 per share, producing a 2.6% annualized yield.

Beacon Pointe Advisors LLC acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,658 shares of the specialty chemicals company's stock, valued at approximately $1,657,000.

Several other hedge funds have also recently made changes to their positions in PPG. Meeder Asset Management Inc. purchased a new position in shares of PPG Industries during the 2nd quarter valued at $26,000. Resources Management Corp CT ADV increased its holdings in PPG Industries by 900.0% in the 4th quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company's stock worth $26,000 after acquiring an additional 225 shares during the last quarter. Quarry LP purchased a new stake in PPG Industries in the 3rd quarter worth about $26,000. Keating Financial Advisory Services Inc. bought a new stake in PPG Industries in the 2nd quarter valued at about $28,000. Finally, Pin Oak Investment Advisors Inc. bought a new stake in PPG Industries in the 2nd quarter valued at about $29,000. 81.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PPG has been the subject of several recent research reports. Royal Bank Of Canada reduced 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. UBS Group dropped their price target on shares of PPG Industries from $130.00 to $125.00 and set a "neutral" rating on the stock in a research note on Thursday, July 30th. Citigroup cut their price objective on shares of PPG Industries from $125.00 to $121.00 and set a "neutral" rating for the company in a report on Thursday, July 30th. Mizuho lifted 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. Finally, BMO Capital Markets dropped their target price on PPG Industries from $140.00 to $138.00 and set an "outperform" rating on the stock in a research report on Monday, July 6th. Seven research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $126.00.

PPG Industries Stock Performance

PPG Industries stock opened at $114.06 on Monday. 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. The firm has a market capitalization of $25.36 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 1.66 and a beta of 1.07. The firm's 50 day simple moving average is $116.77 and its 200 day simple moving average is $113.60.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly 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 firm had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $4.37 billion. PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. The firm's revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.22 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, analysts expect that PPG Industries, Inc. will post 7.88 earnings per share for the current fiscal 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 paid a dividend of $0.74 per share. This is a positive change from PPG Industries's previous quarterly dividend of $0.71. This represents a $2.96 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 10th. PPG Industries's dividend payout ratio is 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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