Heartland Advisors Inc. Buys Shares of 64,765 PPG Industries, Inc. $PPG

Heartland Advisors Inc. bought a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 64,765 shares of the specialty chemicals company’s stock, valued at approximately $7,855,000.

A number of other institutional investors have also made changes to their positions in PPG. Meeder Asset Management Inc. purchased a new stake in PPG Industries in the second quarter valued at approximately $26,000. Resources Management Corp CT ADV grew its stake in shares of PPG Industries by 900.0% in the fourth quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 225 shares in the last quarter. Quarry LP purchased a new stake in shares of PPG Industries in the 3rd quarter valued at $26,000. Keating Financial Advisory Services Inc. acquired a new position in PPG Industries during the 2nd quarter worth about $28,000. Finally, Silvant Capital Management LLC acquired a new position in PPG Industries during the 2nd quarter worth about $30,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Up 1.2%

PPG stock opened at $113.81 on Friday. PPG Industries, Inc. has a one year low of $93.39 and a one year high of $133.43. The stock has a market capitalization of $25.30 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 1.63 and a beta of 1.07. 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 fifty day moving average of $117.31 and a 200-day moving average of $114.01.

PPG Industries (NYSE:PPG) last issued its quarterly 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). The firm had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.37 billion. PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.The company’s revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.22 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, analysts expect that PPG Industries, Inc. will post 7.89 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. Shareholders of record on Monday, August 10th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, August 10th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.71. PPG Industries’s payout ratio is presently 42.41%.

Wall Street Analysts Forecast Growth

PPG has been the subject of a number of analyst reports. Royal Bank Of Canada lowered their target price on shares of 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 reduced their price objective 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. Weiss Ratings upgraded shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. The Goldman Sachs Group decreased their target price on shares of PPG Industries from $134.00 to $130.00 in a research note on Friday, May 1st. Finally, Bank of America raised PPG Industries from a “neutral” rating to a “buy” rating and raised their price target for the stock from $127.00 to $134.00 in a report on Friday, July 17th. Seven 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, PPG Industries presently has a consensus rating of “Hold” and a consensus price target of $126.00.

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.