Jupiter Topco LLC Acquires Shares of 33,294 PPG Industries, Inc. $PPG

Jupiter Topco LLC bought a new position in PPG Industries, Inc. (NYSE:PPG) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 33,294 shares of the specialty chemicals company’s stock, valued at approximately $4,036,000.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC grew its stake in PPG Industries by 9.1% in the 4th quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock valued at $487,000 after purchasing an additional 339 shares during the period. Integrated Wealth Concepts LLC grew its position in PPG Industries by 31.4% during the first quarter. Integrated Wealth Concepts LLC now owns 3,849 shares of the specialty chemicals company’s stock valued at $421,000 after buying an additional 920 shares during the period. Empowered Funds LLC increased its holdings in PPG Industries by 6.1% during the first quarter. Empowered Funds LLC now owns 26,354 shares of the specialty chemicals company’s stock worth $2,882,000 after buying an additional 1,526 shares during the last quarter. Woodline Partners LP boosted its stake in PPG Industries by 40.7% in the first quarter. Woodline Partners LP now owns 19,600 shares of the specialty chemicals company’s stock valued at $2,143,000 after acquiring an additional 5,667 shares during the last quarter. Finally, Cresset Asset Management LLC grew 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 acquiring an additional 371 shares during the period. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Stock Performance

NYSE PPG opened at $109.47 on Wednesday. The company’s 50 day simple moving average is $116.47 and its two-hundred day simple moving average is $113.33. The stock has a market capitalization of $24.34 billion, a PE ratio of 15.68, a P/E/G ratio of 1.63 and a beta of 1.07. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.58 and a quick ratio of 1.15. PPG Industries, Inc. has a 1 year low of $93.39 and a 1 year high of $133.43.

PPG Industries (NYSE:PPG) last released its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $4.37 billion. During the same period in the previous year, the company posted $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. Analysts predict that PPG Industries, Inc. will post 7.88 earnings per share for the current fiscal 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 given a dividend of $0.74 per share. This is a boost from PPG Industries’s previous quarterly dividend of $0.71. The ex-dividend date is Monday, August 10th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.7%. PPG Industries’s dividend payout ratio is 42.41%.

Analysts Set New Price Targets

Several research firms recently commented on PPG. Citigroup dropped their price objective on PPG Industries from $125.00 to $121.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Mizuho upped 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. UBS Group decreased their price objective on PPG Industries from $130.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Weiss Ratings raised shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Finally, Wall Street Zen lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $126.00.

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.