PPG Industries, Inc. $PPG Stake Lifted by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in PPG Industries, Inc. (NYSE:PPG) by 2.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 270,555 shares of the specialty chemicals company’s stock after purchasing an additional 5,304 shares during the period. Principal Financial Group Inc.’s holdings in PPG Industries were worth $28,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. Dorato Capital Management acquired a new position in shares of PPG Industries during the fourth quarter valued at $26,000. Resources Management Corp CT ADV increased its holdings 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 worth $26,000 after acquiring an additional 225 shares during the period. Quarry LP acquired a new stake in shares of PPG Industries in the 3rd quarter worth about $26,000. Aster Capital Management DIFC Ltd bought a new stake in PPG Industries in the 4th quarter valued at about $30,000. Finally, DV Equities LLC bought a new stake in PPG Industries in the 4th quarter valued at about $32,000. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Price Performance

NYSE:PPG opened at $117.39 on Monday. 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 business’s 50-day moving average price is $114.79 and its 200 day moving average price is $112.93. PPG Industries, Inc. has a 52-week low of $93.39 and a 52-week high of $133.43. The firm has a market cap of $26.17 billion, a P/E ratio of 16.75, a PEG ratio of 1.71 and a beta of 1.05.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share for the quarter, beating 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 company had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same period in the prior year, the company earned $1.72 EPS. PPG Industries’s revenue was up 6.7% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, sell-side analysts predict that PPG Industries, Inc. will post 7.94 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 10th will be paid a dividend of $0.74 per share. This is a boost from PPG Industries’s previous quarterly dividend of $0.71. This represents a $2.96 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 10th. PPG Industries’s dividend payout ratio (DPR) is currently 40.51%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Jefferies Financial Group decreased their target price on shares of PPG Industries from $125.00 to $116.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. The Goldman Sachs Group reduced their price objective on PPG Industries from $134.00 to $130.00 in a research report on Friday, May 1st. Weiss Ratings raised PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Wells Fargo & Company lowered their target price on PPG Industries from $135.00 to $130.00 and set an “overweight” rating on the stock in a research report on Friday, April 10th. Finally, JPMorgan Chase & Co. cut their target price on PPG Industries from $126.00 to $125.00 in a research note on Thursday, April 30th. Seven 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 has a consensus rating of “Hold” and an average target price of $126.13.

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.