Canada Pension Plan Investment Board Takes $21.50 Million Position in PPG Industries, Inc. $PPG

Canada Pension Plan Investment Board acquired a new position in PPG Industries, Inc. (NYSE:PPG) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 177,231 shares of the specialty chemicals company’s stock, valued at approximately $21,496,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PPG. Legal & General Group Plc bought a new stake in PPG Industries in the 2nd quarter valued at $169,096,000. The Manufacturers Life Insurance Company bought a new position in shares of PPG Industries during the 2nd quarter worth about $13,644,000. Thomist Capital Management LP bought a new position in shares of PPG Industries during the 2nd quarter worth about $5,470,000. Jones Financial Companies Lllp acquired a new position in shares of PPG Industries during the second quarter valued at about $176,000. Finally, Manning & Napier Advisors LLC acquired a new position in shares of PPG Industries during the second quarter valued at about $4,058,000. Institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PPG. BMO Capital Markets decreased their target price on PPG Industries from $140.00 to $138.00 and set an “outperform” rating on the stock in a research report on Monday, July 6th. Mizuho raised their price objective on PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. UBS Group decreased their price objective on PPG Industries from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Bank of America upgraded PPG Industries from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $127.00 to $134.00 in a research report on Friday, July 17th. Finally, Citigroup cut their target price on PPG Industries from $125.00 to $121.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $126.00.

PPG Industries Stock Up 0.5%

Shares of NYSE:PPG opened at $114.06 on Friday. The company’s fifty day moving average is $116.77 and its 200-day moving average is $113.70. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.58. PPG Industries, Inc. has a 52 week low of $93.39 and a 52 week high of $133.43. The company has a market capitalization of $25.36 billion, a PE ratio of 16.34, a P/E/G ratio of 1.65 and a beta of 1.07.

PPG Industries (NYSE:PPG) last announced its earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share (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 for the quarter, compared to analyst estimates of $4.37 billion. During the same quarter last year, the business earned $2.22 EPS. The company’s revenue for the quarter 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. Equities research analysts predict that PPG Industries, Inc. will post 7.89 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The company also recently disclosed 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. 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 dividend payout ratio (DPR) is 42.41%.

PPG Industries Company 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.