Van ECK Associates Corp Has $4.22 Million Position in PPG Industries, Inc. $PPG

Van ECK Associates Corp cut its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 11.9% during the second quarter, HoldingsChannel.com reports. The firm owned 34,759 shares of the specialty chemicals company’s stock after selling 4,695 shares during the period. Van ECK Associates Corp’s holdings in PPG Industries were worth $4,216,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of PPG Industries by 9.1% during the 4th quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock valued at $487,000 after buying an additional 339 shares during the period. Integrated Wealth Concepts LLC raised its holdings in shares of 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 worth $421,000 after acquiring an additional 920 shares in the last quarter. Empowered Funds LLC boosted its position 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 valued at $2,882,000 after purchasing an additional 1,526 shares during the last quarter. Woodline Partners LP boosted its position in PPG Industries by 40.7% during the first quarter. Woodline Partners LP now owns 19,600 shares of the specialty chemicals company’s stock valued at $2,143,000 after purchasing an additional 5,667 shares during the last quarter. Finally, Cresset Asset Management LLC grew its stake in PPG Industries by 6.2% in the second quarter. Cresset Asset Management LLC now owns 6,346 shares of the specialty chemicals company’s stock valued at $722,000 after purchasing an additional 371 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

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

PPG Industries Stock Down 0.5%

Shares of PPG stock opened at $110.73 on Friday. The company has a market capitalization of $24.62 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 1.81 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 stock’s 50 day simple moving average is $116.04 and its 200 day simple moving average is $113.05. PPG Industries, Inc. has a twelve month low of $93.39 and a twelve month 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 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.02). PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. 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 prior 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. As a group, research analysts predict that PPG Industries, Inc. will post 7.88 EPS for the current year.

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 10th will be given a $0.74 dividend. 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%. This is an increase from PPG Industries’s previous quarterly dividend of $0.71. PPG Industries’s dividend payout ratio 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.