Glenview Trust Co Invests $1.93 Million in PPG Industries, Inc. $PPG

Glenview Trust Co acquired a new position in PPG Industries, Inc. (NYSE:PPG - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 15,922 shares of the specialty chemicals company's stock, valued at approximately $1,931,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new stake in PPG Industries during the second quarter valued at about $2,856,392,000. Pzena Investment Management LLC bought a new stake in shares of PPG Industries in the 2nd quarter valued at about $946,964,000. Bank of New York Mellon Corp bought a new stake in shares of PPG Industries in the 2nd quarter valued at about $318,870,000. Bank of America Corp DE purchased a new position in shares of PPG Industries in the 2nd quarter worth approximately $278,965,000. Finally, Franklin Resources Inc. raised its stake in shares of PPG Industries by 48.9% during the 4th quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company's stock worth $716,256,000 after acquiring an additional 2,295,118 shares in the last quarter. Institutional investors own 81.86% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. The Goldman Sachs Group lowered their target price on shares of PPG Industries from $134.00 to $130.00 in a research note on Friday, May 1st. Royal Bank Of Canada decreased their price objective 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. 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 note on Monday, July 6th. Mizuho raised their price target on PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Wednesday, July 1st. Finally, Bank of America upgraded PPG Industries from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $127.00 to $134.00 in a research note on Friday, July 17th. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, PPG Industries has an average rating of "Hold" and a consensus price target of $126.00.

PPG Industries Trading Up 0.5%

PPG Industries stock opened at $114.06 on Friday. The stock has a 50-day moving average price of $116.77 and a 200 day moving average price of $113.70. The company has a market capitalization of $25.36 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 1.65 and a beta of 1.07. PPG Industries, Inc. has a 52 week low of $93.39 and a 52 week high of $133.43. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.72.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share 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 quarter last year, the company posted $2.22 EPS. PPG Industries's quarterly revenue 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 anticipate that PPG Industries, Inc. will post 7.89 EPS for the current year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 10th will be given a dividend of $0.74 per share. This is a boost from PPG Industries's previous quarterly dividend of $0.71. This represents a $2.96 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, August 10th. PPG Industries's payout ratio is presently 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.

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