Rakuten Investment Management Inc. Invests $4.41 Million in PPG Industries, Inc. $PPG

Rakuten Investment Management Inc. bought a new position in shares of PPG Industries, Inc. (NYSE:PPG) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 36,509 shares of the specialty chemicals company’s stock, valued at approximately $4,414,000.

Several other hedge funds have also modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of PPG Industries in the 2nd quarter valued at $2,856,392,000. State Street Corp raised its holdings in PPG Industries by 4.6% during the 4th quarter. State Street Corp now owns 12,829,677 shares of the specialty chemicals company’s stock worth $1,314,529,000 after buying an additional 565,523 shares during the period. Pzena Investment Management LLC purchased a new stake in PPG Industries during the second quarter valued at about $946,964,000. Franklin Resources Inc. lifted its stake 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 valued at $716,256,000 after buying an additional 2,295,118 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in shares of PPG Industries by 0.4% in the fourth quarter. First Eagle Investment Management LLC now owns 6,290,622 shares of the specialty chemicals company’s stock worth $644,537,000 after buying an additional 26,793 shares during the period. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PPG shares. Bank of America upgraded shares of PPG Industries from a “neutral” rating to a “buy” rating and boosted their price target for the company from $127.00 to $134.00 in a report on Friday, July 17th. BMO Capital Markets lowered their price objective on shares of PPG Industries from $140.00 to $138.00 and set an “outperform” rating on the stock in a research report on Monday, July 6th. Weiss Ratings raised shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. UBS Group reduced their target price on PPG Industries from $130.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Finally, Royal Bank Of Canada reduced their price objective 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. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $126.00.

PPG Industries Stock Down 0.1%

PPG stock opened at $114.06 on Monday. The company has a 50 day moving average of $116.77 and a two-hundred day moving average of $113.60. The company has a market cap of $25.36 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.66 and a beta of 1.07. PPG Industries, Inc. has a 12-month low of $93.39 and a 12-month high of $133.43. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.72.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 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 for the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter in the prior year, the firm earned $2.22 earnings per share. The company’s 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, equities analysts anticipate that PPG Industries, Inc. will post 7.88 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders 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. The ex-dividend date of this dividend is Monday, August 10th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.6%. PPG Industries’s dividend payout ratio (DPR) is 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.