iA Global Asset Management Inc. Acquires New Stake in PPG Industries, Inc. $PPG

Key Points

• iA Global Asset Management disclosed a new first-quarter stake in PPG Industries, buying 11,564 shares valued at about $1.24 million.
• PPG has continued to attract institutional interest, with several other funds adding modestly to their positions; 81.86% of the stock is owned by institutional investors.
• Analysts remain mixed on the stock: the consensus rating is Hold with an average price target of $124.40, while PPG recently beat quarterly earnings and revenue expectations.

iA Global Asset Management Inc. acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 11,564 shares of the specialty chemicals company's stock, valued at approximately $1,236,000.

Other hedge funds have also added to or reduced their stakes in the company. CNB Bank raised its position in shares of PPG Industries by 1.8% in the 4th quarter. CNB Bank now owns 4,514 shares of the specialty chemicals company's stock worth $463,000 after purchasing an additional 80 shares during the last quarter. IFP Advisors Inc boosted its stake in PPG Industries by 2.7% in the 4th quarter. IFP Advisors Inc now owns 3,302 shares of the specialty chemicals company's stock worth $338,000 after purchasing an additional 87 shares in the last quarter. Whittier Trust Co. grew its position in PPG Industries by 1.4% during the 4th quarter. Whittier Trust Co. now owns 6,658 shares of the specialty chemicals company's stock valued at $703,000 after purchasing an additional 89 shares during the last quarter. Evolve Private Wealth LLC grew its position in PPG Industries by 3.2% during the 1st quarter. Evolve Private Wealth LLC now owns 2,929 shares of the specialty chemicals company's stock valued at $313,000 after purchasing an additional 92 shares during the last quarter. Finally, Insigneo Advisory Services LLC increased its stake in PPG Industries by 4.3% during the 4th quarter. Insigneo Advisory Services LLC now owns 2,234 shares of the specialty chemicals company's stock valued at $229,000 after purchasing an additional 92 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their target price on shares of PPG Industries from $126.00 to $125.00 in a report on Thursday, April 30th. BMO Capital Markets raised their price target on shares of PPG Industries from $135.00 to $140.00 and gave the company an "outperform" rating in a research report on Monday, June 15th. The Goldman Sachs Group decreased their price objective on shares of PPG Industries from $134.00 to $130.00 in a report on Friday, May 1st. Citigroup increased their target price on PPG Industries from $114.00 to $125.00 and gave the company a "neutral" rating in a research note on Wednesday, June 24th. Finally, Jefferies Financial Group reduced their target price on PPG Industries from $125.00 to $116.00 and set a "hold" rating for the company in a report on Thursday, March 26th. Six investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, PPG Industries currently has a consensus rating of "Hold" and an average target price of $124.40.

PPG Industries Stock Performance

Shares of NYSE PPG opened at $125.30 on Friday. The firm's 50-day moving average price is $112.85 and its 200-day moving average price is $111.81. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 0.78. The company has a market cap of $27.93 billion, a PE ratio of 17.87, a PEG ratio of 1.79 and a beta of 1.05. PPG Industries, Inc. has a 52-week low of $93.39 and a 52-week high of $133.43.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.05. The firm had revenue of $3.93 billion during the quarter, compared to analysts' expectations of $3.85 billion. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The firm's quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.72 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, analysts anticipate that PPG Industries, Inc. will post 7.92 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, May 11th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Monday, May 11th. PPG Industries's payout ratio is 40.51%.

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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