PPG Industries, Inc. $PPG Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp trimmed its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 11.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,759 shares of the specialty chemicals company’s stock after selling 4,695 shares during the quarter. Van ECK Associates Corp’s holdings in PPG Industries were worth $4,216,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PPG. Brighton Jones LLC boosted its stake in PPG Industries by 9.1% during the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock valued at $487,000 after buying an additional 339 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in PPG Industries by 31.4% in the first quarter. Integrated Wealth Concepts LLC now owns 3,849 shares of the specialty chemicals company’s stock worth $421,000 after acquiring an additional 920 shares in the last quarter. Empowered Funds LLC lifted its holdings in PPG Industries by 6.1% in the 1st quarter. Empowered Funds LLC now owns 26,354 shares of the specialty chemicals company’s stock valued at $2,882,000 after acquiring an additional 1,526 shares during the last quarter. Woodline Partners LP boosted its position in shares of PPG Industries by 40.7% during the 1st quarter. Woodline Partners LP now owns 19,600 shares of the specialty chemicals company’s stock valued at $2,143,000 after purchasing an additional 5,667 shares in the last quarter. Finally, Cresset Asset Management LLC boosted its position in shares of PPG Industries by 6.2% during the 2nd quarter. Cresset Asset Management LLC now owns 6,346 shares of the specialty chemicals company’s stock valued at $722,000 after purchasing an additional 371 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PPG shares. Weiss Ratings upgraded shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Royal Bank Of Canada reduced their price objective on 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. Citigroup decreased their target price on PPG Industries from $125.00 to $121.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Wall Street Zen downgraded PPG Industries from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Mizuho increased their price target on PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $126.00.

PPG Industries Stock Down 0.5%

PPG stock opened at $110.73 on Friday. 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 $24.62 billion, a P/E ratio of 15.86, a P/E/G ratio of 1.81 and a beta of 1.07. PPG Industries, Inc. has a 52-week low of $93.39 and a 52-week high of $133.43. The company’s 50 day simple moving average is $116.04 and its 200-day simple moving average is $113.05.

PPG Industries (NYSE:PPG) last posted 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 return on equity of 21.07% and a net margin of 9.57%.The firm had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same period in the prior year, the business posted $2.22 EPS. The company’s revenue for the quarter was up 7.2% 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 anticipate that PPG Industries, Inc. will post 7.88 EPS for the current year.

PPG Industries Increases Dividend

The firm 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 2.7%. This is a boost from PPG Industries’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, August 10th. PPG Industries’s payout ratio is 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.