Impala Asset Management LLC Invests $8.76 Million in PPG Industries, Inc. $PPG

Impala Asset Management LLC bought a new position in PPG Industries, Inc. (NYSE:PPG) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 82,000 shares of the specialty chemicals company’s stock, valued at approximately $8,764,000. PPG Industries accounts for 4.1% of Impala Asset Management LLC’s investment portfolio, making the stock its 7th biggest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Dorato Capital Management bought a new stake in PPG Industries in the fourth quarter worth $26,000. Quarry LP purchased a new position in PPG Industries during the third quarter worth $26,000. Resources Management Corp CT ADV increased its position in PPG Industries by 900.0% during the fourth quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 225 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in PPG Industries during the fourth quarter valued at $30,000. Finally, DV Equities LLC purchased a new stake in shares of PPG Industries in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Up 1.5%

Shares of PPG opened at $117.40 on Thursday. The firm has a market capitalization of $26.17 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 1.67 and a beta of 1.05. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.61 and a quick ratio of 1.17. PPG Industries, Inc. has a 1-year low of $93.39 and a 1-year high of $133.43. The company has a 50-day moving average of $115.36 and a 200 day moving average of $113.21.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.05. The business had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.85 billion. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.72 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, research analysts expect that PPG Industries, Inc. will post 7.94 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. Investors of record on Monday, August 10th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 2.5%. This is an increase 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 currently 40.51%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. BNP Paribas Exane raised their target price on shares of PPG Industries from $115.00 to $116.00 in a report on Thursday, April 30th. JPMorgan Chase & Co. reduced their price objective on shares of PPG Industries from $126.00 to $125.00 in a research report on Thursday, April 30th. Royal Bank Of Canada raised their price objective on shares of PPG Industries from $119.00 to $129.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 8th. Wall Street Zen upgraded PPG Industries from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Finally, Mizuho upped their target price on PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Seven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $126.13.

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.