OP Asset Management Ltd Takes $2.54 Million Position in PPG Industries, Inc. $PPG

OP Asset Management Ltd purchased a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 23,782 shares of the specialty chemicals company’s stock, valued at approximately $2,542,000.

Other hedge funds have also added to or reduced their stakes in the company. Dorato Capital Management acquired a new position in PPG Industries during the fourth quarter valued at approximately $26,000. Quarry LP acquired a new stake in shares of PPG Industries in the 3rd quarter valued at $26,000. Resources Management Corp CT ADV increased its stake in shares of PPG Industries by 900.0% in the 4th quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 225 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of PPG Industries during the 4th quarter worth $30,000. Finally, DV Equities LLC acquired a new position in shares of PPG Industries during the 4th quarter worth $32,000. 81.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. BMO Capital Markets raised their price objective on PPG Industries from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Monday, June 15th. BNP Paribas Exane increased their target price on shares of PPG Industries from $115.00 to $116.00 in a report on Thursday, April 30th. Wells Fargo & Company reduced their price target on shares of PPG Industries from $135.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, April 10th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $119.00 price target on shares of PPG Industries in a report on Wednesday, June 10th. Finally, Mizuho upped their price objective on shares of PPG Industries from $115.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Six research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $123.73.

PPG Industries Trading Up 0.7%

Shares of PPG stock opened at $123.23 on Friday. PPG Industries, Inc. has a 1-year low of $93.39 and a 1-year high of $133.43. The company has a current ratio of 1.61, a quick ratio of 1.17 and a debt-to-equity ratio of 0.78. The stock has a market cap of $27.47 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 1.80 and a beta of 1.06. The stock has a 50-day moving average of $112.11 and a 200-day moving average of $111.15.

PPG Industries (NYSE:PPG) last announced its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.78 by $0.05. The business had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.85 billion. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.The firm’s revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.72 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, equities research analysts forecast that PPG Industries, Inc. will post 7.92 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, May 11th were given a dividend of $0.71 per share. The ex-dividend date was Monday, May 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.3%. PPG Industries’s dividend payout ratio is 40.51%.

About PPG Industries

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.