Cullen Capital Management LLC Buys Shares of 373,663 PPG Industries, Inc. $PPG

Cullen Capital Management LLC acquired a new stake in PPG Industries, Inc. (NYSE:PPG) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 373,663 shares of the specialty chemicals company’s stock, valued at approximately $45,322,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Dearborn Partners LLC bought a new stake in PPG Industries in the second quarter valued at approximately $498,000. Ames National Corp acquired a new stake in PPG Industries during the 2nd quarter valued at approximately $554,000. D.B. Root & Company LLC bought a new position in PPG Industries during the 2nd quarter worth approximately $642,000. Cibc World Market Inc. acquired a new position in shares of PPG Industries in the 2nd quarter worth approximately $3,891,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in shares of PPG Industries in the 2nd quarter worth approximately $4,376,000. 81.86% of the stock is owned by institutional investors.

PPG Industries Price Performance

Shares of NYSE PPG opened at $113.28 on Tuesday. PPG Industries, Inc. has a fifty-two week low of $93.39 and a fifty-two week high of $133.43. The stock has a market cap of $25.18 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 1.65 and a beta of 1.07. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.58. The firm’s 50-day simple moving average is $117.15 and its 200 day simple moving average is $113.95.

PPG Industries (NYSE:PPG) last posted 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). PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.The firm had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $4.37 billion. During the same quarter in the previous year, the company earned $2.22 EPS. The business’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. As a group, research analysts anticipate that PPG Industries, Inc. will post 7.89 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The company 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. 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%.

Wall Street Analysts Forecast Growth

PPG has been the subject of a number of recent analyst reports. BNP Paribas Exane increased their price target on PPG Industries from $115.00 to $116.00 in a report on Thursday, April 30th. Wall Street Zen downgraded PPG Industries from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. UBS Group cut their target price on PPG Industries from $130.00 to $125.00 and set a “neutral” rating on the stock in a research report on Thursday, July 30th. Royal Bank Of Canada decreased their target price on PPG Industries from $129.00 to $122.00 and set a “sector perform” rating for the company in a research note on Thursday, July 30th. Finally, JPMorgan Chase & Co. dropped their price target on PPG Industries from $126.00 to $125.00 in a research note on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $126.00.

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.