Elevation Point Wealth Partners LLC Makes New $3.34 Million Investment in PPG Industries, Inc. $PPG

Elevation Point Wealth Partners LLC bought a new stake in PPG Industries, Inc. (NYSE:PPG) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 27,560 shares of the specialty chemicals company’s stock, valued at approximately $3,343,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of PPG Industries in the 2nd quarter worth about $2,856,392,000. State Street Corp boosted its stake in PPG Industries by 4.6% during the 4th quarter. State Street Corp now owns 12,829,677 shares of the specialty chemicals company’s stock valued at $1,314,529,000 after purchasing an additional 565,523 shares during the period. Pzena Investment Management LLC acquired a new position in PPG Industries during the 2nd quarter valued at about $946,964,000. Franklin Resources Inc. grew its position in PPG Industries by 48.9% in the 4th quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company’s stock worth $716,256,000 after purchasing an additional 2,295,118 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its position in PPG Industries by 0.4% in the 4th quarter. First Eagle Investment Management LLC now owns 6,290,622 shares of the specialty chemicals company’s stock worth $644,537,000 after purchasing an additional 26,793 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Up 1.2%

PPG stock opened at $113.81 on Friday. The firm’s 50-day moving average is $117.31 and its two-hundred day moving average is $114.01. The company has a market capitalization of $25.30 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 1.65 and a beta of 1.07. PPG Industries, Inc. has a 52 week low of $93.39 and a 52 week high of $133.43. 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 (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). 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 quarter last year, the business earned $2.22 earnings per share. The company’s 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, analysts forecast that PPG Industries, Inc. will post 7.89 earnings per share 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. Stockholders of record on Monday, August 10th will be given a dividend of $0.74 per share. This is a boost from PPG Industries’s previous quarterly dividend of $0.71. The ex-dividend date is Monday, August 10th. This represents a $2.96 annualized dividend and a dividend yield of 2.6%. PPG Industries’s payout ratio is 42.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PPG shares. Bank of America raised PPG Industries from a “neutral” rating to a “buy” rating and lifted their price target for the company from $127.00 to $134.00 in a report on Friday, July 17th. The Goldman Sachs Group decreased their price objective on PPG Industries from $134.00 to $130.00 in a report on Friday, May 1st. Royal Bank Of Canada lowered their target price on 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. Mizuho lifted their target price on PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Finally, JPMorgan Chase & Co. reduced their price target on PPG Industries from $126.00 to $125.00 in a research report on Thursday, April 30th. Seven equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $126.00.

PPG Industries 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.