303,875 Shares in PPG Industries, Inc. $PPG Acquired by Engineers Gate Manager LP

Engineers Gate Manager LP acquired a new stake in PPG Industries, Inc. (NYSE:PPG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 303,875 shares of the specialty chemicals company’s stock, valued at approximately $36,857,000. PPG Industries comprises approximately 0.5% of Engineers Gate Manager LP’s portfolio, making the stock its 27th biggest position.

A number of other large investors have also recently made changes to their positions in the stock. Meeder Asset Management Inc. purchased a new position in PPG Industries in the 2nd quarter worth about $26,000. Resources Management Corp CT ADV increased its position in shares of 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 worth $26,000 after acquiring an additional 225 shares during the period. Quarry LP purchased a new position in shares of PPG Industries during the third quarter worth approximately $26,000. Keating Financial Advisory Services Inc. bought a new stake in shares of PPG Industries during the second quarter valued at approximately $28,000. Finally, Community Bank N.A. bought a new stake in shares of PPG Industries during the second quarter valued at approximately $28,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Performance

PPG stock opened at $107.29 on Thursday. PPG Industries, Inc. has a one year low of $93.39 and a one year high of $133.43. The firm has a market cap of $23.85 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.78 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 firm has a 50-day simple moving average of $115.13 and a two-hundred day simple moving average of $112.55.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.02). The firm had revenue of $4.50 billion during the quarter, compared to analysts’ expectations of $4.37 billion. PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.22 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, equities analysts forecast that PPG Industries, Inc. will post 7.89 EPS for the current fiscal 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 an increase from PPG Industries’s previous quarterly dividend of $0.71. This represents a $2.96 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, August 10th. PPG Industries’s dividend payout ratio is presently 42.41%.

Analysts Set New Price Targets

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

PPG Industries Profile

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. The company supplies protective and decorative coatings used in automotive, aerospace, industrial, marine, packaging and consumer applications. Its products are designed to protect surfaces, improve appearance and provide specialized performance characteristics such as corrosion resistance and durability.

PPG’s portfolio includes automotive refinish coatings, original-equipment automotive coatings, aerospace coatings, industrial and protective coatings, packaging coatings, and architectural paints and coatings.