Grandfield & Dodd LLC Makes New Investment in PPG Industries, Inc. $PPG

Grandfield & Dodd LLC bought a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 158,084 shares of the specialty chemicals company's stock, valued at approximately $19,174,000. Grandfield & Dodd LLC owned approximately 0.07% of PPG Industries as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PPG. Brighton Jones LLC increased its position in shares of PPG Industries by 9.1% during the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company's stock valued at $487,000 after buying an additional 339 shares during the period. Integrated Wealth Concepts LLC grew its position in PPG Industries by 31.4% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,849 shares of the specialty chemicals company's stock worth $421,000 after acquiring an additional 920 shares during the last quarter. Empowered Funds LLC raised its stake in shares of PPG Industries by 6.1% during the first quarter. Empowered Funds LLC now owns 26,354 shares of the specialty chemicals company's stock valued at $2,882,000 after acquiring an additional 1,526 shares during the last quarter. Woodline Partners LP lifted its stake in PPG Industries by 40.7% in the first quarter. Woodline Partners LP now owns 19,600 shares of the specialty chemicals company's stock worth $2,143,000 after acquiring an additional 5,667 shares during the period. Finally, Cresset Asset Management LLC lifted its holdings in PPG Industries by 6.2% in the second quarter. Cresset Asset Management LLC now owns 6,346 shares of the specialty chemicals company's stock worth $722,000 after buying an additional 371 shares during the period. 81.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PPG shares. JPMorgan Chase & Co. cut their price target on shares of PPG Industries from $126.00 to $125.00 in a report on Thursday, April 30th. Citigroup dropped their price objective on shares of PPG Industries from $125.00 to $121.00 and set a "neutral" rating on the stock in a report on Thursday, July 30th. Mizuho increased their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 1st. Wall Street Zen downgraded shares of PPG Industries from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Finally, UBS Group dropped their price target on PPG Industries from $130.00 to $125.00 and set a "neutral" rating for the company in a research report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $126.00.

PPG Industries Trading Down 0.8%

Shares of NYSE:PPG opened at $113.18 on Tuesday. The company has a market capitalization of $25.16 billion, a PE ratio of 16.21, a P/E/G ratio of 1.66 and a beta of 1.07. 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 business's fifty day simple moving average is $117.60 and its 200-day simple moving average is $114.06. PPG Industries, Inc. has a 12-month low of $93.39 and a 12-month high of $133.43.

PPG Industries (NYSE:PPG - Get Free Report) last posted its 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). PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. The firm had revenue of $4.50 billion for the quarter, compared to analysts' expectations of $4.37 billion. During the same period in the previous year, the company earned $2.22 EPS. The company's revenue was up 7.2% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, equities research analysts predict that PPG Industries, Inc. will post 7.89 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, August 10th. This represents a $2.96 dividend on an annualized basis and a yield of 2.6%. This is an increase from PPG Industries's previous quarterly dividend of $0.71. PPG Industries's payout ratio is presently 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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