Global Retirement Partners LLC Purchases Shares of 5,038 PPG Industries, Inc. $PPG

Global Retirement Partners LLC acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 5,038 shares of the specialty chemicals company’s stock, valued at approximately $611,000.

Other hedge funds also recently made changes to their positions in the company. State Street Corp raised its holdings in shares of PPG Industries by 4.6% in the 4th quarter. State Street Corp now owns 12,829,677 shares of the specialty chemicals company’s stock worth $1,314,529,000 after purchasing an additional 565,523 shares in the last quarter. Pzena Investment Management LLC boosted its holdings in PPG Industries by 5.4% during the first quarter. Pzena Investment Management LLC now owns 7,478,646 shares of the specialty chemicals company’s stock worth $799,318,000 after buying an additional 379,879 shares in the last quarter. Franklin Resources Inc. grew its position in PPG Industries by 48.9% in the fourth 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. First Eagle Investment Management LLC grew its position in PPG Industries by 0.4% in the fourth quarter. First Eagle Investment Management LLC now owns 6,290,622 shares of the specialty chemicals company’s stock worth $644,537,000 after buying an additional 26,793 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of PPG Industries by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 5,809,127 shares of the specialty chemicals company’s stock valued at $592,859,000 after buying an additional 135,529 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PPG. BNP Paribas Exane raised their price objective on PPG Industries from $115.00 to $116.00 in a research note on Thursday, April 30th. The Goldman Sachs Group cut their target price on PPG Industries from $134.00 to $130.00 in a research report on Friday, May 1st. Bank of America raised PPG Industries from a “neutral” rating to a “buy” rating and upped their target price for the company from $127.00 to $134.00 in a report on Friday, July 17th. JPMorgan Chase & Co. decreased their price target on PPG Industries from $126.00 to $125.00 in a research report on Thursday, April 30th. Finally, Wall Street Zen lowered PPG Industries from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $126.00.

PPG Industries Stock Down 0.5%

Shares of NYSE:PPG opened at $112.82 on Wednesday. The firm has a 50 day simple moving average of $117.53 and a 200 day simple moving average of $114.05. PPG Industries, Inc. has a 52 week low of $93.39 and a 52 week high of $133.43. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.58. The company has a market cap of $25.08 billion, a PE ratio of 16.16, a price-to-earnings-growth ratio of 1.66 and a beta of 1.07.

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 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 firm had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter in the previous year, the firm posted $2.22 earnings per share. 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, research analysts expect that PPG Industries, Inc. will post 7.89 earnings per share for the current year.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.74 per share. This is a positive change from PPG Industries’s previous quarterly dividend of $0.71. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Monday, August 10th. PPG Industries’s dividend payout ratio is presently 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.