Varma Mutual Pension Insurance Co Purchases New Stake in PPG Industries, Inc. $PPG

Varma Mutual Pension Insurance Co acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 134,886 shares of the specialty chemicals company’s stock, valued at approximately $16,360,000.

A number of other large investors also recently made changes to their positions in the business. Meeder Asset Management Inc. purchased a new stake in PPG Industries in the 2nd quarter worth approximately $26,000. Resources Management Corp CT ADV increased its stake in shares of PPG Industries by 900.0% in the fourth quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 225 shares during the last quarter. Quarry LP acquired a new stake in PPG Industries during the third quarter valued at $26,000. Keating Financial Advisory Services Inc. purchased a new position in PPG Industries in the second quarter valued at about $28,000. Finally, Silvant Capital Management LLC acquired a new position in PPG Industries in the 2nd quarter worth about $30,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analysts Set New Price Targets

PPG has been the topic of a number of recent analyst reports. Wall Street Zen downgraded PPG Industries from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Bank of America upgraded shares of PPG Industries from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $127.00 to $134.00 in a research note on Friday, July 17th. Citigroup lowered their target price on shares of PPG Industries from $125.00 to $121.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Mizuho lifted their target price on shares of PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Finally, UBS Group cut their target price on shares of PPG Industries from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, PPG Industries presently has a consensus rating of “Hold” and an average target price of $126.00.

PPG Industries Stock Performance

NYSE PPG opened at $113.81 on Friday. The company’s fifty day moving average is $117.31 and its two-hundred day moving average is $114.01. PPG Industries, Inc. has a 52-week low of $93.39 and a 52-week high of $133.43. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.58 and a quick ratio of 1.15. The firm has a market capitalization of $25.30 billion, a price-to-earnings ratio of 16.31, a P/E/G ratio of 1.65 and a beta of 1.07.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $2.23 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.37 billion. During the same period in the prior year, the company posted $2.22 EPS. The firm’s quarterly revenue 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 forecast that PPG Industries, Inc. will post 7.89 EPS for the current year.

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from PPG Industries’s previous quarterly dividend of $0.71. PPG Industries’s dividend payout ratio is 42.41%.

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.