OMERS ADMINISTRATION Corp Invests $4.38 Million in PPG Industries, Inc. $PPG

Key Points

• OMERS Administration Corp. acquired 36,077 shares of PPG Industries worth approximately $4.38 million during the second quarter. Institutional investors collectively own 81.86% of PPG’s outstanding shares.
• Analyst sentiment remains mixed, with seven Buy ratings and ten Holds, producing a consensus rating of Hold and an average price target of $126, compared with the stock’s reported price of $113.68.
• PPG reported quarterly revenue of $4.50 billion, up 7.2% year over year, though earnings of $2.23 per share slightly missed estimates. The company also raised its quarterly dividend to $0.74 per share, equivalent to a 2.6% yield.

OMERS ADMINISTRATION Corp acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 36,077 shares of the specialty chemicals company's stock, valued at approximately $4,376,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PPG. Meeder Asset Management Inc. purchased a new stake in PPG Industries during the 2nd quarter valued at about $26,000. Resources Management Corp CT ADV raised its stake in shares of PPG Industries by 900.0% in the fourth quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company's stock worth $26,000 after purchasing an additional 225 shares during the last quarter. Quarry LP acquired a new stake in shares of PPG Industries during the third quarter worth about $26,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of PPG Industries during the second quarter worth about $28,000. Finally, Silvant Capital Management LLC purchased a new stake in PPG Industries in the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 81.86% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PPG. Mizuho raised their price target on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. BNP Paribas Exane increased their target price on shares of PPG Industries from $115.00 to $116.00 in a research note on Thursday, April 30th. UBS Group dropped their price target on shares of PPG Industries from $130.00 to $125.00 and set a "neutral" rating on the stock in a research note on Thursday, July 30th. Royal Bank Of Canada lowered their price target on PPG Industries from $129.00 to $122.00 and set a "sector perform" rating on the stock in a research note on Thursday, July 30th. Finally, Citigroup decreased their price objective on PPG Industries from $125.00 to $121.00 and set a "neutral" rating on the stock in a 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. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $126.00.

PPG Industries Price Performance

NYSE:PPG opened at $113.68 on Wednesday. PPG Industries, Inc. has a one year low of $93.39 and a one year high of $133.43. The stock has a market cap of $25.27 billion, a PE ratio of 16.29, a P/E/G ratio of 1.64 and a beta of 1.07. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.58. The stock has a 50 day moving average price of $117.01 and a 200 day moving average price of $113.86.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share for the quarter, missing analysts' consensus estimates of $2.25 by ($0.02). The company had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.37 billion. PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.The business's quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm posted $2.22 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Equities research analysts expect that PPG Industries, Inc. will post 7.89 EPS 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. Stockholders of record on Monday, August 10th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 10th. This is a positive change from PPG Industries's previous quarterly dividend of $0.71. PPG Industries's dividend 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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