NewEdge Wealth LLC Purchases New Position in PPG Industries, Inc. $PPG

NewEdge Wealth LLC acquired a new stake in PPG Industries, Inc. (NYSE:PPG) in the second quarter, according to its most recent filing with the SEC. The fund acquired 5,918 shares of the specialty chemicals company’s stock, valued at approximately $718,000.

Other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new stake in shares of PPG Industries during the 2nd quarter valued at $26,000. Resources Management Corp CT ADV boosted its stake in 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 purchasing an additional 225 shares during the period. Quarry LP bought a new stake in shares of PPG Industries during the third quarter valued at about $26,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of PPG Industries in the fourth quarter worth about $30,000. Finally, Essential Partners LLC grew its stake in PPG Industries by 59.3% during the first quarter. Essential Partners LLC now owns 301 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on PPG. Citigroup lowered their target price on shares of PPG Industries from $125.00 to $121.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Bank of America raised shares of PPG Industries from a “neutral” rating to a “buy” rating and upped their price target for the stock from $127.00 to $134.00 in a report on Friday, July 17th. Wall Street Zen downgraded PPG Industries from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. BNP Paribas Exane boosted their target price on PPG Industries from $115.00 to $116.00 in a research report on Thursday, April 30th. Finally, Mizuho upped their target price on PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, PPG Industries currently has an average rating of “Hold” and an average target price of $126.00.

PPG Industries Price Performance

PPG opened at $113.81 on Friday. The stock has a market capitalization of $25.30 billion, a P/E ratio of 16.31, a PEG ratio of 1.65 and a beta of 1.07. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. PPG Industries, Inc. has a 12-month low of $93.39 and a 12-month high of $133.43. The stock has a 50-day moving average price of $117.31 and a 200-day moving average price of $114.01.

PPG Industries (NYSE:PPG) last issued its earnings results 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). The firm had revenue of $4.50 billion during the quarter, compared to analysts’ expectations of $4.37 billion. PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.22 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Equities analysts predict that PPG Industries, Inc. will post 7.89 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

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

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.