Fifth Third Bancorp Buys 97,723 Shares of PPG Industries, Inc. $PPG

Fifth Third Bancorp boosted its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 460.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 118,943 shares of the specialty chemicals company’s stock after buying an additional 97,723 shares during the quarter. Fifth Third Bancorp’s holdings in PPG Industries were worth $12,713,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. CNB Bank increased its position in PPG Industries by 1.8% during the 4th quarter. CNB Bank now owns 4,514 shares of the specialty chemicals company’s stock valued at $463,000 after purchasing an additional 80 shares during the period. IFP Advisors Inc lifted its position in shares of PPG Industries by 2.7% in the 4th quarter. IFP Advisors Inc now owns 3,302 shares of the specialty chemicals company’s stock worth $338,000 after purchasing an additional 87 shares during the period. Whittier Trust Co. boosted its stake in shares of PPG Industries by 1.4% in the 4th quarter. Whittier Trust Co. now owns 6,658 shares of the specialty chemicals company’s stock valued at $703,000 after purchasing an additional 89 shares during the last quarter. Evolve Private Wealth LLC boosted its stake in shares of PPG Industries by 3.2% in the 1st quarter. Evolve Private Wealth LLC now owns 2,929 shares of the specialty chemicals company’s stock valued at $313,000 after purchasing an additional 92 shares during the last quarter. Finally, Insigneo Advisory Services LLC increased its position in shares of PPG Industries by 4.3% during the fourth quarter. Insigneo Advisory Services LLC now owns 2,234 shares of the specialty chemicals company’s stock worth $229,000 after buying an additional 92 shares during the period. Institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Up 0.7%

Shares of NYSE PPG opened at $114.68 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 0.78. The firm has a market cap of $25.56 billion, a PE ratio of 16.36, a P/E/G ratio of 1.66 and a beta of 1.05. The company’s fifty day simple moving average is $114.36 and its 200 day simple moving average is $112.65. PPG Industries, Inc. has a 12-month low of $93.39 and a 12-month high of $133.43.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.05. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The firm had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same period in the previous year, the firm posted $1.72 earnings per share. The business’s revenue was up 6.7% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, sell-side analysts forecast that PPG Industries, Inc. will post 7.93 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, May 11th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Monday, May 11th. PPG Industries’s payout ratio is presently 40.51%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. BNP Paribas Exane lifted their target price on shares of PPG Industries from $115.00 to $116.00 in a research note on Thursday, April 30th. Royal Bank Of Canada increased their price target on PPG Industries from $119.00 to $129.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 8th. Citigroup lifted their price objective on PPG Industries from $114.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 24th. Jefferies Financial Group dropped their price objective on PPG Industries from $125.00 to $116.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. Finally, BMO Capital Markets cut their target price on PPG Industries from $140.00 to $138.00 and set an “outperform” rating on the stock in a research report on Monday, July 6th. Six analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, PPG Industries currently has a consensus rating of “Hold” and an average price target of $124.93.

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.