Mitsubishi UFJ Asset Management Co. Ltd. Acquires Shares of 577,133 PPG Industries, Inc. $PPG

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of PPG Industries, Inc. (NYSE:PPG) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 577,133 shares of the specialty chemicals company’s stock, valued at approximately $70,001,000.

Several other hedge funds also recently made changes to their positions in PPG. Nvest Wealth Strategies Inc. bought a new stake in PPG Industries during the fourth quarter valued at $505,000. Cooke & Bieler LP lifted its position in shares of 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 worth $165,644,000 after buying an additional 231,537 shares during the last quarter. Equity Investment Corp boosted 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 valued at $101,981,000 after buying an additional 32,337 shares during the period. ProShare Advisors LLC boosted 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 valued at $163,959,000 after buying an additional 98,430 shares during the period. Finally, Entropy Technologies LP grew its position in shares of PPG Industries by 80.2% during the 4th quarter. Entropy Technologies LP now owns 61,784 shares of the specialty chemicals company’s stock valued at $6,330,000 after buying an additional 27,493 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Price Performance

NYSE PPG opened at $113.99 on Thursday. PPG Industries, Inc. has a 52 week low of $93.39 and a 52 week high of $133.43. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. The stock has a market cap of $25.34 billion, a price-to-earnings ratio of 16.33, a price-to-earnings-growth ratio of 1.64 and a beta of 1.07. The company has a 50-day moving average price of $117.54 and a two-hundred day moving average price of $114.03.

PPG Industries (NYSE:PPG) last released its quarterly 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). The business had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.37 billion. PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. 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. Analysts forecast that PPG Industries, Inc. will post 7.89 EPS for the current year.

PPG Industries Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PPG shares. UBS Group dropped their price objective 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 decreased their target price on PPG Industries from $129.00 to $122.00 and set a “sector perform” rating for the company in a research note on Thursday, July 30th. Mizuho upped their target price on PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. The Goldman Sachs Group dropped their price target on PPG Industries from $134.00 to $130.00 in a research report on Friday, May 1st. Finally, BMO Capital Markets cut their price target 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 analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $126.00.

PPG Industries Profile

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.