Man Group plc Invests $2.80 Million in PPG Industries, Inc. $PPG

Key Points

• Man Group acquired a new $2.80 million stake in PPG Industries during the second quarter, purchasing 23,116 shares. Institutional investors collectively own 81.86% of PPG’s stock.
• Analyst sentiment is mixed, with seven Buy ratings and ten Hold ratings, resulting in a consensus “Hold” rating and an average price target of $126.
• PPG reported quarterly revenue of $4.50 billion, up 7.2% year over year, but narrowly missed earnings estimates. The company also raised its quarterly dividend to $0.74 per share, representing a 2.6% yield.

Man Group plc acquired a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 23,116 shares of the specialty chemicals company's stock, valued at approximately $2,804,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PPG. Cooke & Bieler LP lifted its holdings in PPG Industries by 16.7% in the 4th quarter. Cooke & Bieler LP now owns 1,616,672 shares of the specialty chemicals company's stock valued at $165,644,000 after acquiring an additional 231,537 shares during the last quarter. Bank of Nova Scotia acquired a new position in shares of PPG Industries in the 2nd quarter worth approximately $2,850,000. Equity Investment Corp raised its holdings in shares of PPG Industries by 3.4% in the 4th quarter. Equity Investment Corp now owns 995,323 shares of the specialty chemicals company's stock worth $101,981,000 after purchasing an additional 32,337 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of PPG Industries by 6.6% in the 4th quarter. ProShare Advisors LLC now owns 1,600,226 shares of the specialty chemicals company's stock worth $163,959,000 after purchasing an additional 98,430 shares in the last quarter. Finally, Entropy Technologies LP lifted its stake in PPG Industries by 80.2% during the fourth quarter. Entropy Technologies LP now owns 61,784 shares of the specialty chemicals company's stock valued at $6,330,000 after purchasing an additional 27,493 shares during the last quarter. Institutional investors own 81.86% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PPG shares. Mizuho upped their price target on PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Wednesday, July 1st. Citigroup decreased their target price on PPG Industries from $125.00 to $121.00 and set a "neutral" rating on the stock in a report on Thursday, July 30th. Wall Street Zen lowered PPG Industries from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Royal Bank Of Canada decreased their price target on PPG Industries from $129.00 to $122.00 and set a "sector perform" rating for the company in a research report on Thursday, July 30th. Finally, BMO Capital Markets cut their price objective on PPG Industries from $140.00 to $138.00 and set an "outperform" rating on the stock in a report on Monday, July 6th. Seven equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, PPG Industries currently has a consensus rating of "Hold" and a consensus target price of $126.00.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $112.48 on Tuesday. PPG Industries, Inc. has a 12 month low of $93.39 and a 12 month 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. The stock has a market cap of $25.00 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 1.66 and a beta of 1.07. The business has a fifty day simple moving average of $116.64 and a 200-day simple moving average of $113.48.

PPG Industries (NYSE:PPG - Get Free Report) last posted 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 net margin of 9.57% and a return on equity of 21.07%. The business had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same period in the previous year, the firm posted $2.22 earnings per share. The firm's quarterly 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. On average, sell-side analysts anticipate that PPG Industries, Inc. will post 7.88 EPS for the current fiscal year.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be given a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.6%. This is a positive change from PPG Industries's previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, August 10th. PPG Industries's payout ratio is currently 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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