Legal & General Group Plc Takes $169.10 Million Position in PPG Industries, Inc. $PPG

Legal & General Group Plc acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,394,143 shares of the specialty chemicals company’s stock, valued at approximately $169,096,000.

Several other institutional investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company bought a new stake in PPG Industries during the second quarter valued at approximately $13,644,000. Thomist Capital Management LP bought a new position in shares of PPG Industries in the 2nd quarter worth $5,470,000. Jones Financial Companies Lllp purchased a new stake in shares of PPG Industries during the 2nd quarter valued at $176,000. Manning & Napier Advisors LLC purchased a new stake in shares of PPG Industries during the 2nd quarter valued at $4,058,000. Finally, Vega Investment Solutions bought a new stake in shares of PPG Industries during the 2nd quarter worth $38,312,000. 81.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PPG shares. JPMorgan Chase & Co. reduced their target price on PPG Industries from $126.00 to $125.00 in a research note on Thursday, April 30th. The Goldman Sachs Group dropped their target price on PPG Industries from $134.00 to $130.00 in a research report on Friday, May 1st. Weiss Ratings upgraded shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Bank of America raised shares of PPG Industries from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $127.00 to $134.00 in a research note on Friday, July 17th. Finally, UBS Group lowered their price objective on shares of PPG Industries from $130.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Seven research 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 has an average rating of “Hold” and a consensus price target of $126.00.

PPG Industries Trading Up 0.6%

NYSE PPG opened at $114.33 on Thursday. The firm has a market cap of $25.42 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 1.65 and a beta of 1.07. PPG Industries, Inc. has a 1-year low of $93.39 and a 1-year high of $133.43. The stock has a 50-day moving average of $116.95 and a 200-day moving average of $113.79. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.02). PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.The company had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter in the previous year, the business earned $2.22 earnings per share. PPG Industries’s revenue was up 7.2% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, sell-side analysts forecast that PPG Industries, Inc. will post 7.89 EPS for the current year.

PPG Industries Increases Dividend

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

PPG Industries 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.