OP Asset Management Ltd Buys New Holdings 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 filing with the Securities & Exchange Commission. The firm purchased 23,782 shares of the specialty chemicals company’s stock, valued at approximately $2,542,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Pzena Investment Management LLC increased its holdings in shares of PPG Industries by 306.2% during the 4th quarter. Pzena Investment Management LLC now owns 7,098,767 shares of the specialty chemicals company’s stock worth $727,340,000 after acquiring an additional 5,351,103 shares during the last quarter. Wellington Management Group LLP lifted its holdings in PPG Industries by 19.9% during the 3rd quarter. Wellington Management Group LLP now owns 15,159,770 shares of the specialty chemicals company’s stock valued at $1,593,443,000 after purchasing an additional 2,521,004 shares during the last quarter. Franklin Resources Inc. boosted its position in PPG Industries by 48.9% during the fourth 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 period. Norges Bank bought a new position in PPG Industries during the fourth quarter worth $209,355,000. Finally, Bank of Montreal Can increased its holdings in shares of PPG Industries by 254.9% in the fourth quarter. Bank of Montreal Can now owns 1,334,707 shares of the specialty chemicals company’s stock valued at $136,754,000 after purchasing an additional 958,580 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

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

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

PPG Industries Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently issued reports on PPG shares. BNP Paribas Exane raised their target price on shares of PPG Industries from $115.00 to $116.00 in a research note on Thursday, April 30th. Jefferies Financial Group lowered their price target on shares of PPG Industries from $125.00 to $116.00 and set a “hold” rating on the stock in a report on Thursday, March 26th. Mizuho raised 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. Wells Fargo & Company reduced their price objective on PPG Industries from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Friday, April 10th. Finally, JPMorgan Chase & Co. decreased their target price on PPG Industries from $126.00 to $125.00 in a research report on Thursday, April 30th. Six analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, PPG Industries currently has an average rating of “Hold” and an average target price of $123.73.

PPG Industries Company 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.