Engineers Gate Manager LP Buys New Holdings in PPG Industries, Inc. $PPG

Engineers Gate Manager LP purchased a new position in PPG Industries, Inc. (NYSE:PPG - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 303,875 shares of the specialty chemicals company's stock, valued at approximately $36,857,000. PPG Industries makes up about 0.5% of Engineers Gate Manager LP's investment portfolio, making the stock its 27th largest holding. Engineers Gate Manager LP owned 0.14% of PPG Industries as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. California State Teachers Retirement System raised its position in shares of PPG Industries by 12,647.0% during the second quarter. California State Teachers Retirement System now owns 60,284,284 shares of the specialty chemicals company's stock valued at $7,311,881,000 after buying an additional 59,811,353 shares during the last quarter. BlackRock Inc. purchased a new position in PPG Industries during the second quarter valued at $2,856,392,000. State Street Corp grew its stake in PPG Industries by 4.6% during the fourth quarter. State Street Corp now owns 12,829,677 shares of the specialty chemicals company's stock valued at $1,314,529,000 after acquiring an additional 565,523 shares in the last quarter. Pzena Investment Management LLC bought a new stake in PPG Industries in the 2nd quarter valued at $946,964,000. Finally, Franklin Resources Inc. increased its holdings in PPG Industries by 48.9% in the 4th quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company's stock valued at $716,256,000 after acquiring an additional 2,295,118 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Trading Down 2.2%

PPG opened at $107.29 on Thursday. PPG Industries, Inc. has a 12 month low of $93.39 and a 12 month 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 stock has a 50-day moving average of $115.13 and a 200 day moving average of $112.55. The firm has a market cap of $23.85 billion, a P/E ratio of 15.37, a P/E/G ratio of 1.78 and a beta of 1.07.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.02). The company 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%. PPG Industries'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, research analysts forecast that PPG Industries, Inc. will post 7.89 EPS for the current year.

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 10th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 2.8%. This is a positive change 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 presently 42.41%.

Wall Street Analyst Weigh In

Several research analysts have commented on PPG shares. UBS Group dropped their price objective on shares of PPG Industries from $130.00 to $125.00 and set a "neutral" rating for the company in a report on Thursday, July 30th. Weiss Ratings upgraded PPG Industries from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, June 17th. Mizuho boosted 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. Wall Street Zen lowered PPG Industries from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Royal Bank Of Canada cut their price target on PPG Industries from $129.00 to $122.00 and set a "sector perform" rating for the company in a report on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, PPG Industries has a consensus rating of "Hold" and an average target price of $126.00.

PPG Industries Company Profile

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. The company supplies protective and decorative coatings used in automotive, aerospace, industrial, marine, packaging and consumer applications. Its products are designed to protect surfaces, improve appearance and provide specialized performance characteristics such as corrosion resistance and durability.

PPG's portfolio includes automotive refinish coatings, original-equipment automotive coatings, aerospace coatings, industrial and protective coatings, packaging coatings, and architectural paints and coatings.

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