Bank of Nova Scotia Invests $2.85 Million in PPG Industries, Inc. $PPG

Bank of Nova Scotia 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 Securities & Exchange Commission. The fund bought 23,498 shares of the specialty chemicals company’s stock, valued at approximately $2,850,000.

Other large investors have also recently bought and sold shares of the company. Compass Financial Management LLC bought a new stake in PPG Industries in the 2nd quarter valued at $81,000. Elevation Point Wealth Partners LLC bought a new position in shares of PPG Industries during the 2nd quarter worth about $3,343,000. Daiichi Life Insurance Co. Ltd. acquired a new position in shares of PPG Industries during the second quarter valued at about $252,000. Commerce Bank acquired a new position in shares of PPG Industries during the second quarter valued at about $2,342,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of PPG Industries in the second quarter valued at about $2,623,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PPG. The Goldman Sachs Group lowered their price target on PPG Industries from $134.00 to $130.00 in a research note on Friday, May 1st. UBS Group reduced their price objective on PPG Industries from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. BMO Capital Markets decreased 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. JPMorgan Chase & Co. lowered their price objective on PPG Industries from $126.00 to $125.00 in a research report on Thursday, April 30th. Finally, BNP Paribas Exane upped their target price on PPG Industries from $115.00 to $116.00 in a research note on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $126.00.

PPG Industries Stock Up 0.6%

Shares of PPG opened at $114.33 on Thursday. 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 company has a 50-day moving average price of $116.95 and a two-hundred day moving average price of $113.79. The stock has a market cap of $25.42 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 1.65 and a beta of 1.07. PPG Industries, Inc. has a 12 month low of $93.39 and a 12 month high of $133.43.

PPG Industries (NYSE:PPG) last posted its 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). The firm had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $4.37 billion. PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.22 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Equities analysts predict that PPG Industries, Inc. will post 7.89 EPS for the current fiscal year.

PPG Industries Increases Dividend

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

PPG Industries Company 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.