Meiji Yasuda Asset Management Co Ltd. Makes New Investment in PPG Industries, Inc. $PPG

Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 62,718 shares of the specialty chemicals company’s stock, valued at approximately $7,607,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Cooke & Bieler LP boosted its stake in shares of PPG Industries by 16.7% in the fourth 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 raised its position in PPG Industries by 3.4% during the fourth quarter. Equity Investment Corp now owns 995,323 shares of the specialty chemicals company’s stock valued at $101,981,000 after acquiring an additional 32,337 shares in the last quarter. ProShare Advisors LLC lifted its holdings in PPG Industries by 6.6% in the fourth quarter. ProShare Advisors LLC now owns 1,600,226 shares of the specialty chemicals company’s stock valued at $163,959,000 after acquiring an additional 98,430 shares during the period. Entropy Technologies LP grew its stake 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 worth $6,330,000 after purchasing an additional 27,493 shares during the period. Finally, North Dakota State Investment Board purchased a new position in shares of PPG Industries during the 4th quarter valued at approximately $1,393,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Up 0.2%

Shares of NYSE PPG opened at $113.81 on Monday. The firm has a market cap of $25.30 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 1.65 and a beta of 1.07. The company’s 50-day simple moving average is $117.31 and its 200-day simple moving average is $113.99. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.72. PPG Industries, Inc. has a 52-week low of $93.39 and a 52-week high of $133.43.

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 the consensus estimate of $2.25 by ($0.02). The company had revenue of $4.50 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the company earned $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 company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be given a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 2.6%. This is a boost from PPG Industries’s previous quarterly dividend of $0.71. The ex-dividend date is Monday, August 10th. PPG Industries’s dividend payout ratio (DPR) is 42.41%.

Analyst Ratings Changes

A number of analysts recently issued reports on PPG shares. The Goldman Sachs Group lowered their price target on shares of PPG Industries from $134.00 to $130.00 in a report on Friday, May 1st. Wall Street Zen downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. JPMorgan Chase & Co. dropped their target price on PPG Industries from $126.00 to $125.00 in a research report on Thursday, April 30th. Royal Bank Of Canada reduced their price target on PPG Industries from $129.00 to $122.00 and set a “sector perform” rating for the company in a report on Thursday, July 30th. Finally, Citigroup dropped their price objective on PPG Industries from $125.00 to $121.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average 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.