Korea Investment CORP Acquires New Position in PPG Industries, Inc. $PPG

Korea Investment CORP bought a new position in shares of PPG Industries, Inc. (NYSE:PPG) during the second quarter, HoldingsChannel.com reports. The firm bought 89,687 shares of the specialty chemicals company’s stock, valued at approximately $10,878,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of PPG Industries in the second quarter valued at $2,856,392,000. State Street Corp lifted its position in PPG Industries by 4.6% during the fourth quarter. State Street Corp now owns 12,829,677 shares of the specialty chemicals company’s stock worth $1,314,529,000 after buying an additional 565,523 shares during the period. Pzena Investment Management LLC acquired a new stake in PPG Industries in the 2nd quarter worth about $946,964,000. Franklin Resources Inc. boosted its stake in PPG Industries by 48.9% in the 4th quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company’s stock worth $716,256,000 after buying an additional 2,295,118 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in PPG Industries by 0.4% in the 4th quarter. First Eagle Investment Management LLC now owns 6,290,622 shares of the specialty chemicals company’s stock valued at $644,537,000 after buying an additional 26,793 shares during the period. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. UBS Group cut their price objective on shares of PPG Industries from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Citigroup dropped their price target on shares of PPG Industries from $125.00 to $121.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Weiss Ratings raised shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Bank of America upgraded shares of PPG Industries from a “neutral” rating to a “buy” rating and lifted their price target for the company from $127.00 to $134.00 in a report on Friday, July 17th. Finally, Royal Bank Of Canada lowered their price objective on shares of 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. Seven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $126.00.

PPG Industries Stock Performance

PPG Industries stock opened at $113.28 on Tuesday. PPG Industries, Inc. has a 12-month low of $93.39 and a 12-month 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 company has a market capitalization of $25.18 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 1.65 and a beta of 1.07. The firm’s fifty day moving average price is $117.15 and its 200 day moving average price is $113.95.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data 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 firm had revenue of $4.50 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the company earned $2.22 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, research analysts forecast 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 dividend of $0.74 per share. This is a boost from PPG Industries’s previous quarterly dividend of $0.71. The ex-dividend date is Monday, August 10th. This represents a $2.96 dividend on an annualized basis and a yield of 2.6%. PPG Industries’s 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.