TD Waterhouse Canada Inc. Lowers Stock Holdings in PPG Industries, Inc. $PPG

Key Points

• TD Waterhouse Canada reduced its PPG Industries stake by 5.8% in the second quarter, selling 9,364 shares and retaining 151,470 shares valued at approximately $18.6 million. Institutional investors collectively own 81.86% of PPG.
• PPG reported quarterly revenue of $4.50 billion, up 7.2% year over year and above analyst expectations, but earnings per share of $2.23 narrowly missed the $2.25 consensus estimate.
• PPG raised its quarterly dividend from $0.71 to $0.74 per share, equating to an annualized dividend of $2.96 and a 2.6% yield. Analysts maintain a consensus “Hold” rating with a $126 price target.

TD Waterhouse Canada Inc. trimmed its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 5.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 151,470 shares of the specialty chemicals company's stock after selling 9,364 shares during the period. TD Waterhouse Canada Inc. owned 0.07% of PPG Industries worth $18,581,000 at the end of the most recent reporting period.

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

PPG Industries Stock Performance

NYSE:PPG opened at $112.59 on Friday. The firm's fifty day simple moving average is $115.83 and its 200 day simple moving average is $113.04. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. PPG Industries, Inc. has a twelve month low of $93.39 and a twelve month high of $133.43. The firm has a market capitalization of $25.03 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 1.80 and a beta of 1.07.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share (EPS) 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 company had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same quarter in the prior year, the company posted $2.22 earnings per share. The firm's revenue for the quarter 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 expect that PPG Industries, Inc. will post 7.89 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 10th will be issued 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 is Monday, August 10th. This is an increase from PPG Industries's previous quarterly dividend of $0.71. PPG Industries's dividend payout ratio (DPR) is 42.41%.

Analyst Upgrades and Downgrades

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

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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