Canada Pension Plan Investment Board Acquires New Shares in PPG Industries, Inc. $PPG

Canada Pension Plan Investment Board bought a new stake in PPG Industries, Inc. (NYSE:PPG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 177,231 shares of the specialty chemicals company’s stock, valued at approximately $21,496,000. Canada Pension Plan Investment Board owned approximately 0.08% of PPG Industries at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new stake in shares of PPG Industries during the 2nd quarter valued at about $26,000. Keating Financial Advisory Services Inc. bought a new position in PPG Industries during the second quarter valued at approximately $28,000. Silvant Capital Management LLC bought a new position in PPG Industries during the second quarter valued at approximately $30,000. Quarry LP acquired a new stake in PPG Industries in the third quarter valued at approximately $26,000. Finally, Resources Management Corp CT ADV grew its position in PPG Industries by 900.0% in the fourth quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 225 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Price Performance

Shares of PPG Industries stock opened at $114.06 on Friday. The firm has a fifty day simple moving average of $116.77 and a 200-day simple moving average of $113.70. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. PPG Industries, Inc. has a 1-year low of $93.39 and a 1-year high of $133.43. The stock has a market capitalization of $25.36 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.65 and a beta of 1.07.

PPG Industries (NYSE:PPG) last posted 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). The firm had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.37 billion. PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.PPG Industries’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior 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, sell-side analysts expect that PPG Industries, Inc. will post 7.89 earnings per share for the current year.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be given a $0.74 dividend. This is an increase from PPG Industries’s previous quarterly dividend of $0.71. This represents a $2.96 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 10th. PPG Industries’s dividend payout ratio (DPR) is 42.41%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PPG shares. 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. Citigroup decreased their price objective on shares of PPG Industries from $125.00 to $121.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Royal Bank Of Canada lowered their target price on shares of PPG Industries from $129.00 to $122.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 30th. UBS Group cut their target price on PPG Industries from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Finally, Mizuho boosted their price target on PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $126.00.

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.