Impala Asset Management LLC Buys New Holdings in PPG Industries, Inc. $PPG

Key Points

• Impala Asset Management opened a new position in PPG Industries in Q1, buying 82,000 shares worth about $8.76 million. The stock now represents roughly 4.1% of the fund’s portfolio.
• PPG Industries posted a strong quarterly report, with EPS of $1.83 beating estimates and revenue of $3.93 billion topping expectations. Revenue also rose 6.7% year over year, and the company reaffirmed FY2026 EPS guidance of 7.70 to 8.10.
• The company also raised its quarterly dividend to $0.74 per share from $0.71, implying an annualized yield of about 2.5%. Meanwhile, Wall Street sentiment remains mixed, with a consensus rating of Hold and an average price target of $126.13.

Impala Asset Management LLC purchased a new position in PPG Industries, Inc. (NYSE:PPG - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 82,000 shares of the specialty chemicals company's stock, valued at approximately $8,764,000. PPG Industries makes up about 4.1% of Impala Asset Management LLC's investment portfolio, making the stock its 7th largest holding.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its position in shares of 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 buying an additional 565,523 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in shares of PPG Industries by 5.4% in the first quarter. Pzena Investment Management LLC now owns 7,478,646 shares of the specialty chemicals company's stock worth $799,318,000 after buying an additional 379,879 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of PPG Industries by 48.9% during the fourth 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 during the last quarter. First Eagle Investment Management LLC grew its stake in PPG Industries by 0.4% during the fourth quarter. First Eagle Investment Management LLC now owns 6,290,622 shares of the specialty chemicals company's stock valued at $644,537,000 after acquiring an additional 26,793 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in PPG Industries by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 5,809,127 shares of the specialty chemicals company's stock valued at $592,859,000 after acquiring an additional 135,529 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Weiss Ratings upgraded shares of PPG Industries from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, June 17th. Bank of America upgraded PPG Industries from a "neutral" rating to a "buy" rating and raised their price objective for the company from $127.00 to $134.00 in a research report on Friday, July 17th. Jefferies Financial Group reduced their target price on PPG Industries from $125.00 to $116.00 and set a "hold" rating on the stock in a report on Thursday, March 26th. Deutsche Bank Aktiengesellschaft boosted their target price on PPG Industries from $120.00 to $130.00 in a research report on Friday, March 27th. Finally, UBS Group increased their price target on PPG Industries from $110.00 to $116.00 and gave the company a "neutral" rating in a research note on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, PPG Industries currently has a consensus rating of "Hold" and an average target price of $126.13.

PPG Industries Trading Up 1.5%

Shares of PPG opened at $117.40 on Thursday. The company's fifty day moving average is $115.36 and its 200 day moving average is $113.21. PPG Industries, Inc. has a fifty-two week low of $93.39 and a fifty-two week high of $133.43. The stock has a market capitalization of $26.17 billion, a PE ratio of 16.75, a P/E/G ratio of 1.67 and a beta of 1.05. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.17 and a current ratio of 1.61.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.78 by $0.05. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The company had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter in the prior year, the firm earned $1.72 earnings per share. PPG Industries's revenue was up 6.7% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Sell-side analysts expect that PPG Industries, Inc. will post 7.94 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently announced 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. The ex-dividend date is Monday, August 10th. This represents a $2.96 annualized dividend and a dividend yield of 2.5%. This is a positive change from PPG Industries's previous quarterly dividend of $0.71. PPG Industries's dividend payout ratio is currently 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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