Cibc World Market Inc. Buys Shares of 32,081 PPG Industries, Inc. $PPG

Key Points

• CIBC World Market Inc. purchased 32,081 shares of PPG Industries during the second quarter, valued at approximately $3.9 million. Institutional investors collectively own 81.86% of PPG’s outstanding stock.
• Analyst sentiment remains mixed, with seven Buy ratings and ten Hold ratings, producing an overall “Hold” consensus and an average price target of $126, above the stock’s reported $114.33 price.
• PPG reported quarterly revenue of $4.50 billion, up 7.2% year over year, but narrowly missed EPS expectations. The company also raised its quarterly dividend to $0.74 per share, implying a 2.6% yield.

Cibc World Market Inc. purchased a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 32,081 shares of the specialty chemicals company's stock, valued at approximately $3,891,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PPG. Meeder Asset Management Inc. bought a new stake in PPG Industries in the second quarter valued at about $26,000. Resources Management Corp CT ADV grew its position in shares of PPG Industries by 900.0% during the 4th quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company's stock worth $26,000 after buying an additional 225 shares during the period. Quarry LP bought a new stake in shares of PPG Industries in the 3rd quarter valued at about $26,000. Keating Financial Advisory Services Inc. bought a new stake in shares of PPG Industries in the 2nd quarter valued at about $28,000. Finally, Silvant Capital Management LLC acquired a new stake in shares of PPG Industries in the 2nd quarter valued at approximately $30,000. 81.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PPG has been the topic of several recent analyst reports. Weiss Ratings raised shares of PPG Industries from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, June 17th. 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. Royal Bank Of Canada cut their target price on shares of PPG Industries from $129.00 to $122.00 and set a "sector perform" rating on the stock in a report on Thursday, July 30th. BMO Capital Markets decreased their price target on shares of PPG Industries from $140.00 to $138.00 and set an "outperform" rating for the company in a report on Monday, July 6th. Finally, The Goldman Sachs Group lowered their price objective on shares of PPG Industries from $134.00 to $130.00 in a research report on Friday, May 1st. Seven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $126.00.

PPG Industries Price Performance

Shares of PPG opened at $114.33 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.58. The stock has a 50 day simple moving average of $116.95 and a 200 day simple moving average of $113.79. PPG Industries, Inc. has a 52-week low of $93.39 and a 52-week high of $133.43. The firm has a market capitalization of $25.42 billion, a PE ratio of 16.38, a P/E/G ratio of 1.65 and a beta of 1.07.

PPG Industries (NYSE:PPG - Get Free Report) last posted its 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). 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 for the quarter, compared to the consensus estimate of $4.37 billion. During the same period in the previous year, the company posted $2.22 earnings per share. PPG Industries's revenue for the quarter was up 7.2% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Sell-side analysts predict that PPG Industries, Inc. will post 7.89 EPS for the current fiscal year.

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be given 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 dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 10th. PPG Industries's payout ratio is currently 42.41%.

About PPG Industries

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.

Want to see what other hedge funds are holding PPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPG Industries, Inc. (NYSE:PPG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source