Heartland Advisors Inc. Increases Stock Position in PPG Industries, Inc. $PPG

Heartland Advisors Inc. raised its stake in PPG Industries, Inc. (NYSE:PPG) by 71.0% in the 1st quarter, HoldingsChannel.com reports. The fund owned 64,765 shares of the specialty chemicals company’s stock after purchasing an additional 26,884 shares during the period. Heartland Advisors Inc.’s holdings in PPG Industries were worth $6,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC grew its stake in PPG Industries by 9.1% during the 4th quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock worth $487,000 after buying an additional 339 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in shares of PPG Industries by 31.4% in the first quarter. Integrated Wealth Concepts LLC now owns 3,849 shares of the specialty chemicals company’s stock valued at $421,000 after acquiring an additional 920 shares during the period. Empowered Funds LLC boosted its holdings in shares of PPG Industries by 6.1% in the first quarter. Empowered Funds LLC now owns 26,354 shares of the specialty chemicals company’s stock valued at $2,882,000 after acquiring an additional 1,526 shares during the period. Woodline Partners LP grew its position in shares of PPG Industries by 40.7% during the first quarter. Woodline Partners LP now owns 19,600 shares of the specialty chemicals company’s stock worth $2,143,000 after acquiring an additional 5,667 shares during the last quarter. Finally, Cresset Asset Management LLC grew its position in shares of PPG Industries by 6.2% during the second quarter. Cresset Asset Management LLC now owns 6,346 shares of the specialty chemicals company’s stock worth $722,000 after acquiring an additional 371 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on PPG shares. JPMorgan Chase & Co. reduced their price target on shares of PPG Industries from $126.00 to $125.00 in a research report on Thursday, April 30th. BNP Paribas Exane raised their price objective on shares of PPG Industries from $115.00 to $116.00 in a research report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of PPG Industries from $120.00 to $130.00 in a research note on Friday, March 27th. Weiss Ratings upgraded shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Finally, Wall Street Zen raised PPG Industries from a “hold” rating to a “buy” rating in a report on Saturday. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $126.13.

PPG Industries Price Performance

Shares of NYSE PPG opened at $117.39 on Friday. The stock has a fifty day moving average price of $114.79 and a 200 day moving average price of $112.87. 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 0.78, a current ratio of 1.61 and a quick ratio of 1.17. The company has a market cap of $26.17 billion, a PE ratio of 16.75, a P/E/G ratio of 1.72 and a beta of 1.05.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.05. The company had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.85 billion. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. PPG Industries’s revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.72 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Sell-side analysts forecast that PPG Industries, Inc. will post 7.94 EPS for the current year.

PPG Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 10th will be issued a dividend of $0.74 per share. 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 2.5%. The ex-dividend date of this dividend is Monday, August 10th. PPG Industries’s dividend payout ratio is currently 42.23%.

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.