NEOS Investment Management LLC Acquires 4,668 Shares of PPG Industries, Inc. $PPG

NEOS Investment Management LLC grew its holdings in PPG Industries, Inc. (NYSE:PPG) by 14.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,089 shares of the specialty chemicals company’s stock after acquiring an additional 4,668 shares during the period. NEOS Investment Management LLC’s holdings in PPG Industries were worth $4,377,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Quarry LP bought a new position in PPG Industries in the 3rd quarter worth $26,000. Resources Management Corp CT ADV grew its holdings in PPG Industries by 900.0% during the fourth quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 225 shares during the period. Meeder Asset Management Inc. purchased a new stake in PPG Industries in the second quarter worth about $26,000. Keating Financial Advisory Services Inc. purchased a new stake in PPG Industries in the second quarter worth about $28,000. Finally, Pin Oak Investment Advisors Inc. bought a new position in shares of PPG Industries in the second quarter worth about $29,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Up 0.1%

PPG stock opened at $112.59 on Monday. 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. The business has a 50 day simple moving average of $115.83 and a two-hundred day simple moving average of $112.92. The company has a market capitalization of $25.03 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 1.82 and a beta of 1.07.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.02). PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. The company had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter in the previous year, the business earned $2.22 EPS. The company’s quarterly revenue was up 7.2% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Research analysts anticipate that PPG Industries, Inc. will post 7.89 EPS for the current fiscal year.

PPG Industries Increases Dividend

The business 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. The ex-dividend date is Monday, August 10th. This represents a $2.96 dividend on an annualized basis and a yield of 2.6%. This is an increase 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 topic of a number of analyst reports. Citigroup lowered their price objective on PPG Industries from $125.00 to $121.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. BMO Capital Markets decreased their target price 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. Mizuho lifted their price target on shares of PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Weiss Ratings upgraded shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Finally, Wall Street Zen cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Seven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average 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.