Manning & Napier Advisors LLC Takes $4.06 Million Position in PPG Industries, Inc. $PPG

Manning & Napier Advisors LLC bought a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 33,455 shares of the specialty chemicals company’s stock, valued at approximately $4,058,000.

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

PPG Industries Stock Down 0.3%

Shares of NYSE:PPG opened at $113.28 on Tuesday. The business has a fifty day simple moving average of $117.15 and a 200 day simple moving average of $113.95. PPG Industries, Inc. has a 12-month low of $93.39 and a 12-month high of $133.43. The firm has a market cap of $25.18 billion, a P/E ratio of 16.23, a P/E/G ratio of 1.65 and a beta of 1.07. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.72.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.02). PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.The firm had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same quarter last year, the company earned $2.22 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Analysts predict that PPG Industries, Inc. will post 7.89 earnings per share for the current year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 10th will be paid a dividend of $0.74 per share. This is a boost from PPG Industries’s previous quarterly dividend of $0.71. This represents a $2.96 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 10th. PPG Industries’s payout ratio is currently 42.41%.

Analysts Set New Price Targets

A number of research firms have recently commented on PPG. Bank of America upgraded shares of PPG Industries from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $127.00 to $134.00 in a research note on Friday, July 17th. The Goldman Sachs Group decreased their target price on PPG Industries from $134.00 to $130.00 in a research report on Friday, May 1st. Citigroup dropped their price target on shares of PPG Industries from $125.00 to $121.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. JPMorgan Chase & Co. reduced their price objective on shares of PPG Industries from $126.00 to $125.00 in a research note on Thursday, April 30th. Finally, Mizuho increased their target price on shares of PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Seven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $126.00.

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.