BlackRock Inc. Buys New Shares in PPG Industries, Inc. $PPG

BlackRock Inc. purchased 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 purchased 23,550,100 shares of the specialty chemicals company's stock, valued at approximately $2,856,392,000. BlackRock Inc. owned about 10.59% of PPG Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of PPG. Resources Management Corp CT ADV boosted its holdings in shares of 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 valued at $26,000 after buying an additional 225 shares during the last quarter. Quarry LP acquired a new position in PPG Industries during the third quarter worth $26,000. Aster Capital Management DIFC Ltd acquired a new position in PPG Industries during the fourth quarter worth $30,000. Essential Partners LLC raised its position in PPG Industries by 59.3% during the first quarter. Essential Partners LLC now owns 301 shares of the specialty chemicals company's stock worth $32,000 after acquiring an additional 112 shares in the last quarter. Finally, DV Equities LLC bought a new stake in PPG Industries during the fourth quarter worth $32,000. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Trading Down 0.5%

Shares of PPG stock opened at $112.82 on Wednesday. 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 stock has a market cap of $25.08 billion, a P/E ratio of 16.16, a price-to-earnings-growth ratio of 1.66 and a beta of 1.07. The stock has a 50 day simple moving average of $117.53 and a 200 day simple moving average of $114.05. 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 quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 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 analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm earned $2.22 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, research analysts predict that PPG Industries, Inc. will post 7.89 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 2.6%. 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 currently 42.41%.

Analyst Ratings Changes

PPG has been the subject of several recent analyst reports. Wall Street Zen cut PPG Industries from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. The Goldman Sachs Group dropped their price objective on PPG Industries from $134.00 to $130.00 in a research note on Friday, May 1st. Mizuho raised their price objective on PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Wednesday, July 1st. Royal Bank Of Canada reduced their target price on 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, BMO Capital Markets decreased their target price on PPG Industries from $140.00 to $138.00 and set an "outperform" rating on the stock in a report on Monday, July 6th. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $126.00.

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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