Plato Investment Management Ltd Acquires New Position in PPG Industries, Inc. $PPG

Plato Investment Management Ltd acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 19,315 shares of the specialty chemicals company’s stock, valued at approximately $2,329,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bell Investment Advisors Inc acquired a new stake in shares of PPG Industries during the 2nd quarter worth approximately $90,000. AMG National Trust Bank acquired a new position in PPG Industries during the 2nd quarter valued at approximately $2,591,000. Simplicity Wealth LLC bought a new position in PPG Industries during the 2nd quarter worth $614,000. Longfellow Investment Management Co. LLC bought a new position in PPG Industries during the 2nd quarter worth $4,096,000. Finally, HBK Sorce Advisory LLC acquired a new stake in PPG Industries in the second quarter worth $243,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $113.18 on Tuesday. PPG Industries, Inc. has a 12 month low of $93.39 and a 12 month high of $133.43. The stock has a market cap of $25.16 billion, a price-to-earnings ratio of 16.21, a PEG ratio of 1.66 and a beta of 1.07. The stock’s 50 day moving average price is $117.60 and its 200 day moving average price is $114.06. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.58 and a quick ratio of 1.15.

PPG Industries (NYSE:PPG) last released its earnings results 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). PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.The firm had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same quarter last year, the company earned $2.22 earnings per share. The business’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. Equities research analysts anticipate that PPG Industries, Inc. will post 7.89 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 10th will be paid a dividend of $0.74 per share. This is an increase from PPG Industries’s previous quarterly dividend of $0.71. This represents a $2.96 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 10th. PPG Industries’s dividend payout ratio (DPR) is 42.41%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Weiss Ratings raised shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. BNP Paribas Exane lifted their price objective on shares of PPG Industries from $115.00 to $116.00 in a research report on Thursday, April 30th. BMO Capital Markets reduced their target price 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. Wall Street Zen cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, The Goldman Sachs Group dropped their price target on shares of PPG Industries from $134.00 to $130.00 in a research note on Friday, May 1st. Seven research 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, PPG Industries 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.