Meiji Yasuda Asset Management Co Ltd. Makes New $7.61 Million Investment in PPG Industries, Inc. $PPG

Meiji Yasuda Asset Management Co Ltd. bought a new stake in PPG Industries, Inc. (NYSE:PPG) in the second quarter, Holdings Channel.com reports. The firm bought 62,718 shares of the specialty chemicals company’s stock, valued at approximately $7,607,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of PPG. Meeder Asset Management Inc. acquired a new position in PPG Industries during the second quarter worth about $26,000. Resources Management Corp CT ADV raised its holdings in PPG Industries by 900.0% in the 4th 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. Quarry LP purchased a new position in PPG Industries in the 3rd quarter worth approximately $26,000. Keating Financial Advisory Services Inc. purchased a new position in PPG Industries in the 2nd quarter worth approximately $28,000. Finally, Silvant Capital Management LLC acquired a new position in shares of PPG Industries during the 2nd quarter worth approximately $30,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Up 0.2%

PPG stock opened at $113.81 on Monday. The firm has a market cap of $25.30 billion, a PE ratio of 16.31, a PEG ratio of 1.65 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 firm’s 50 day moving average price is $117.31 and its 200-day moving average price is $113.99. PPG Industries, Inc. has a one year low of $93.39 and a one year high of $133.43.

PPG Industries (NYSE:PPG) last issued 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). The business had revenue of $4.50 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.22 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, equities research analysts anticipate that PPG Industries, Inc. will post 7.89 EPS for the current year.

PPG Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 10th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.6%. 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. PPG Industries’s dividend payout ratio is 42.41%.

Analysts Set New Price Targets

Several research firms recently commented on PPG. JPMorgan Chase & Co. cut their price target on PPG Industries from $126.00 to $125.00 in a report on Thursday, April 30th. Bank of America upgraded 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. Weiss Ratings raised PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. BNP Paribas Exane lifted their price target on PPG Industries from $115.00 to $116.00 in a report on Thursday, April 30th. Finally, Wall Street Zen cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $126.00.

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.