Glenview Trust Co Takes Position in PPG Industries, Inc. $PPG

Glenview Trust Co bought a new stake in PPG Industries, Inc. (NYSE:PPG) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 15,922 shares of the specialty chemicals company’s stock, valued at approximately $1,931,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC acquired a new position in shares of PPG Industries in the second quarter worth about $3,339,000. United Capital Financial Advisors LLC purchased a new position in shares of PPG Industries in the 2nd quarter valued at about $1,084,000. Dearborn Partners LLC acquired a new position in PPG Industries in the 2nd quarter worth about $565,000. Caitlin John LLC acquired a new position in PPG Industries in the 2nd quarter worth about $247,000. Finally, Equitable Holdings Inc. purchased a new position in PPG Industries during the second quarter worth approximately $397,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of NYSE PPG opened at $114.06 on Friday. The firm has a 50-day simple moving average of $116.77 and a 200-day simple moving average of $113.70. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $25.36 billion, a price-to-earnings ratio of 16.34, 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.

PPG Industries (NYSE:PPG) last announced 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 business had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same period in the prior year, the company posted $2.22 EPS. The firm’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, equities analysts predict that PPG Industries, Inc. will post 7.89 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The business 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 $0.74 dividend. This is a boost from PPG Industries’s previous quarterly dividend of $0.71. This represents a $2.96 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 10th. PPG Industries’s payout ratio is 42.41%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PPG. BMO Capital Markets cut their price objective on PPG Industries from $140.00 to $138.00 and set an “outperform” rating for the company in a research report on Monday, July 6th. Weiss Ratings raised shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Citigroup reduced their price objective 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. Wall Street Zen cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Mizuho lifted their price objective on PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Seven research 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 stock has a consensus rating of “Hold” and a consensus price target 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.