Robeco Institutional Asset Management B.V. Acquires 26,876 Shares of PPG Industries, Inc. $PPG

Robeco Institutional Asset Management B.V. increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 12.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 242,572 shares of the specialty chemicals company’s stock after buying an additional 26,876 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.11% of PPG Industries worth $27,593,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Cantor Fitzgerald Investment Advisors L.P. grew its holdings in shares of PPG Industries by 1.3% during the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 81,867 shares of the specialty chemicals company’s stock worth $9,312,000 after buying an additional 1,016 shares in the last quarter. Chicago Capital LLC grew its holdings in shares of PPG Industries by 37.0% during the second quarter. Chicago Capital LLC now owns 5,653 shares of the specialty chemicals company’s stock worth $643,000 after buying an additional 1,527 shares in the last quarter. G&S Capital LLC grew its holdings in shares of PPG Industries by 4.4% during the second quarter. G&S Capital LLC now owns 5,516 shares of the specialty chemicals company’s stock worth $627,000 after buying an additional 235 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH bought a new position in shares of PPG Industries during the second quarter worth about $440,000. Finally, V Square Quantitative Management LLC grew its holdings in shares of PPG Industries by 2.1% during the second quarter. V Square Quantitative Management LLC now owns 6,051 shares of the specialty chemicals company’s stock worth $688,000 after buying an additional 124 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PPG shares. Wells Fargo & Company increased their price objective on PPG Industries from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. UBS Group increased their price target on PPG Industries from $111.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, July 9th. Citigroup increased their price target on PPG Industries from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, June 13th. Weiss Ratings reissued a “hold (c)” rating on shares of PPG Industries in a research report on Saturday, September 27th. Finally, Royal Bank Of Canada increased their price target on PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $128.91.

PPG Industries Stock Performance

PPG opened at $104.36 on Friday. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $132.18. The stock has a market cap of $23.55 billion, a price-to-earnings ratio of 23.66, a PEG ratio of 2.17 and a beta of 1.16. The business has a 50 day moving average of $108.83 and a 200-day moving average of $109.45. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.22. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The company had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.16 billion. During the same period last year, the firm posted $2.50 earnings per share. The business’s revenue was down .9% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, equities research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Monday, August 11th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Monday, August 11th. This is an increase from PPG Industries’s previous quarterly dividend of $0.68. PPG Industries’s payout ratio is 64.40%.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.