Caisse de depot et placement du Quebec Makes New Investment in PPG Industries, Inc. $PPG

Caisse de depot et placement du Quebec purchased a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 264,059 shares of the specialty chemicals company’s stock, valued at approximately $32,028,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cooke & Bieler LP lifted its holdings in PPG Industries by 16.7% in the fourth quarter. Cooke & Bieler LP now owns 1,616,672 shares of the specialty chemicals company’s stock worth $165,644,000 after purchasing an additional 231,537 shares during the period. Bank of Nova Scotia acquired a new position in PPG Industries during the 2nd quarter valued at about $2,850,000. Equity Investment Corp increased its stake in PPG Industries by 3.4% during the 4th quarter. Equity Investment Corp now owns 995,323 shares of the specialty chemicals company’s stock valued at $101,981,000 after buying an additional 32,337 shares during the period. ProShare Advisors LLC raised its position in shares of PPG Industries by 6.6% during the 4th quarter. ProShare Advisors LLC now owns 1,600,226 shares of the specialty chemicals company’s stock worth $163,959,000 after buying an additional 98,430 shares in the last quarter. Finally, Entropy Technologies LP raised its position in shares of PPG Industries by 80.2% during the 4th quarter. Entropy Technologies LP now owns 61,784 shares of the specialty chemicals company’s stock worth $6,330,000 after buying an additional 27,493 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Trading Up 0.5%

Shares of NYSE:PPG opened at $114.06 on Friday. 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 stock has a market capitalization of $25.36 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.65 and a beta of 1.07. PPG Industries, Inc. has a 1-year low of $93.39 and a 1-year high of $133.43. The company has a 50 day moving average price of $116.77 and a 200 day moving average price of $113.70.

PPG Industries (NYSE:PPG) last posted its quarterly 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 net margin of 9.57% and a return on equity of 21.07%. The company had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $4.37 billion. During the same period in the prior year, the company posted $2.22 EPS. PPG Industries’s quarterly revenue was up 7.2% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, research analysts anticipate that PPG Industries, Inc. will post 7.89 EPS for the current fiscal year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from PPG Industries’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, August 10th. PPG Industries’s payout ratio is presently 42.41%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group decreased their price objective on shares of PPG Industries from $134.00 to $130.00 in a report on Friday, May 1st. Royal Bank Of Canada dropped their target price on PPG Industries from $129.00 to $122.00 and set a “sector perform” rating on the stock in a report on Thursday, July 30th. Citigroup cut their target price on PPG Industries from $125.00 to $121.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Wall Street Zen lowered PPG Industries from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, BMO Capital Markets lowered their price target on PPG Industries from $140.00 to $138.00 and set an “outperform” rating on the stock in a research report on Monday, July 6th. 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.com, PPG Industries presently has a consensus rating of “Hold” and a consensus price target 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.