Canal Capital Management LLC Takes $7.13 Million Position in PPG Industries, Inc. $PPG

Canal Capital Management LLC bought a new stake in shares of PPG Industries, Inc. (NYSE:PPG) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 66,676 shares of the specialty chemicals company’s stock, valued at approximately $7,126,000.

A number of other large investors also recently added to or reduced their stakes in PPG. Boyd Watterson Asset Management LLC OH grew its position in PPG Industries by 71.4% during the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 10,328 shares of the specialty chemicals company’s stock worth $1,104,000 after acquiring an additional 4,304 shares during the last quarter. New York State Teachers Retirement System lifted its position in PPG Industries by 13.1% in the first quarter. New York State Teachers Retirement System now owns 186,558 shares of the specialty chemicals company’s stock valued at $19,939,000 after purchasing an additional 21,681 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of PPG Industries during the first quarter valued at approximately $8,941,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of PPG Industries by 763.4% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 48,350 shares of the specialty chemicals company’s stock valued at $5,168,000 after purchasing an additional 42,750 shares during the period. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of PPG Industries in the first quarter worth approximately $2,960,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $119.00 price objective on shares of PPG Industries in a research note on Wednesday, June 10th. Weiss Ratings upgraded PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Jefferies Financial Group dropped their price target on PPG Industries from $125.00 to $116.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. BNP Paribas Exane boosted their price objective on shares of PPG Industries from $115.00 to $116.00 in a research report on Thursday, April 30th. Finally, Citigroup raised their target price on shares of PPG Industries from $114.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. Six equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $124.40.

PPG Industries Stock Performance

Shares of PPG stock opened at $125.30 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 0.78. The company has a 50 day moving average price of $113.12 and a 200-day moving average price of $111.91. PPG Industries, Inc. has a 52 week low of $93.39 and a 52 week high of $133.43. The firm has a market capitalization of $27.93 billion, a PE ratio of 17.87, a P/E/G ratio of 1.83 and a beta of 1.05.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, April 28th. The specialty chemicals company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.78 by $0.05. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.The firm had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.85 billion. During the same period in the prior year, the business posted $1.72 EPS. PPG Industries’s revenue was up 6.7% 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 7.93 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, May 11th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, May 11th. PPG Industries’s payout ratio is presently 40.51%.

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.