Equity Investment Corp Takes $136.57 Million Position in PPG Industries, Inc. $PPG

Equity Investment Corp acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,126,001 shares of the specialty chemicals company’s stock, valued at approximately $136,573,000. PPG Industries accounts for about 2.6% of Equity Investment Corp’s holdings, making the stock its 14th largest position.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. CNB Bank raised its stake in shares of PPG Industries by 1.8% during the fourth 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 in the last quarter. IFP Advisors Inc increased its stake in PPG Industries by 2.7% during the 4th quarter. IFP Advisors Inc now owns 3,302 shares of the specialty chemicals company’s stock valued at $338,000 after buying an additional 87 shares during the period. Evolve Private Wealth LLC raised its position in shares of PPG Industries by 3.2% during the 1st quarter. Evolve Private Wealth LLC now owns 2,929 shares of the specialty chemicals company’s stock worth $313,000 after buying an additional 92 shares in the last quarter. Insigneo Advisory Services LLC lifted its stake in shares of PPG Industries by 4.3% in the 4th quarter. Insigneo Advisory Services LLC now owns 2,234 shares of the specialty chemicals company’s stock worth $229,000 after acquiring an additional 92 shares during the period. Finally, OMERS ADMINISTRATION Corp lifted its stake in shares of PPG Industries by 1.1% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 8,533 shares of the specialty chemicals company’s stock worth $874,000 after acquiring an additional 92 shares during the period. 81.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. The Goldman Sachs Group lowered their price objective on shares of PPG Industries from $134.00 to $130.00 in a research note on Friday, May 1st. JPMorgan Chase & Co. decreased their price target on PPG Industries from $126.00 to $125.00 in a research note on Thursday, April 30th. BMO Capital Markets lowered their price target 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. BNP Paribas Exane boosted their price objective on PPG Industries from $115.00 to $116.00 in a research note on Thursday, April 30th. Finally, Weiss Ratings upgraded PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Seven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $126.00.

PPG Industries Trading Down 0.5%

Shares of NYSE:PPG opened at $112.82 on Wednesday. The stock has a market capitalization of $25.08 billion, a price-to-earnings ratio of 16.16, 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. 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 company has a 50 day moving average price of $117.53 and a 200 day moving average price of $114.05.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $4.37 billion. During the same period in the prior year, the company posted $2.22 EPS. PPG Industries’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. On average, 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 announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from PPG Industries’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, August 10th. PPG Industries’s payout ratio is presently 42.41%.

PPG Industries Company 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.