Pzena Investment Management LLC Purchases New Holdings in PPG Industries, Inc. $PPG

Pzena Investment Management LLC acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the 2nd quarter, HoldingsChannel reports. The firm acquired 7,807,438 shares of the specialty chemicals company’s stock, valued at approximately $946,964,000. PPG Industries comprises about 2.8% of Pzena Investment Management LLC’s portfolio, making the stock its 11th biggest holding.

A number of other hedge funds also recently added to or reduced their stakes in PPG. Resources Management Corp CT ADV grew 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. Quarry LP purchased a new stake in shares of PPG Industries during the third quarter worth approximately $26,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of PPG Industries during the fourth quarter worth approximately $30,000. Essential Partners LLC lifted its holdings in shares of PPG Industries by 59.3% during the first quarter. Essential Partners LLC now owns 301 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 112 shares during the period. Finally, DV Equities LLC acquired a new stake in shares of PPG Industries during the fourth quarter worth $32,000. 81.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PPG. JPMorgan Chase & Co. dropped their price objective on shares of PPG Industries from $126.00 to $125.00 in a research note on Thursday, April 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. The Goldman Sachs Group lowered their target price on shares of PPG Industries from $134.00 to $130.00 in a report on Friday, May 1st. Bank of America upgraded shares of PPG Industries from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $127.00 to $134.00 in a research note on Friday, July 17th. Finally, Royal Bank Of Canada cut their price target on shares of PPG Industries from $129.00 to $122.00 and set a “sector perform” rating for the company in a report on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $126.00.

PPG Industries Stock Down 0.8%

PPG Industries stock opened at $113.18 on Tuesday. The stock’s 50 day moving average price is $117.60 and its 200 day moving average price is $114.06. PPG Industries, Inc. has a 1-year low of $93.39 and a 1-year high of $133.43. The company has a market cap of $25.16 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 1.66 and a beta of 1.07. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.58 and a quick ratio of 1.15.

PPG Industries (NYSE:PPG) last released 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 return on equity of 21.07% and a net margin of 9.57%.The business had revenue of $4.50 billion during the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter in the previous year, the company posted $2.22 EPS. The company’s 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. On average, sell-side analysts predict that PPG Industries, Inc. will post 7.89 EPS for the current fiscal year.

PPG Industries Increases Dividend

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

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.