Man Group plc Takes $2.80 Million Position in PPG Industries, Inc. $PPG

Man Group plc purchased a new position in PPG Industries, Inc. (NYSE:PPG) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 23,116 shares of the specialty chemicals company’s stock, valued at approximately $2,804,000.

A number of other institutional investors have also recently bought and sold shares of PPG. Meeder Asset Management Inc. purchased a new position in PPG Industries in the second quarter valued at about $26,000. Resources Management Corp CT ADV increased its position 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 worth $26,000 after purchasing an additional 225 shares during the last quarter. Quarry LP purchased a new stake in shares of PPG Industries during the 3rd quarter worth about $26,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of PPG Industries during the 2nd quarter worth about $28,000. Finally, Silvant Capital Management LLC acquired a new stake in shares of PPG Industries during the 2nd quarter valued at about $30,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Bank of America upgraded PPG Industries from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $127.00 to $134.00 in a report on Friday, July 17th. Wall Street Zen downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. BMO Capital Markets dropped their price target on shares of PPG Industries from $140.00 to $138.00 and set an “outperform” rating on the stock in a research note on Monday, July 6th. Weiss Ratings upgraded shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Finally, UBS Group reduced their price objective on shares of PPG Industries from $130.00 to $125.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $126.00.

PPG Industries Price Performance

Shares of PPG Industries stock opened at $112.48 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. The firm has a fifty day simple moving average of $116.64 and a 200-day simple moving average of $113.48. The stock has a market capitalization of $25.00 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 1.66 and a beta of 1.07. PPG Industries, Inc. has a 1-year low of $93.39 and a 1-year high of $133.43.

PPG Industries (NYSE:PPG) last announced its 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). The business had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.37 billion. PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. PPG Industries’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.22 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, sell-side analysts expect that PPG Industries, Inc. will post 7.88 earnings per share for the current year.

PPG Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 10th will be issued a $0.74 dividend. This is a positive change from PPG Industries’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, August 10th. This represents a $2.96 annualized dividend and a yield of 2.6%. PPG Industries’s payout ratio is currently 42.41%.

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.