Bank of New York Mellon Corp Acquires 1,156,078 Shares of PPG Industries, Inc. $PPG

Bank of New York Mellon Corp increased its holdings in PPG Industries, Inc. (NYSE:PPG) by 85.6% during the first quarter, Holdings Channel.com reports. The firm owned 2,507,399 shares of the specialty chemicals company’s stock after acquiring an additional 1,156,078 shares during the quarter. Bank of New York Mellon Corp’s holdings in PPG Industries were worth $267,991,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PPG. Illinois Municipal Retirement Fund increased its position in shares of PPG Industries by 2.9% in the first quarter. Illinois Municipal Retirement Fund now owns 90,423 shares of the specialty chemicals company’s stock valued at $9,664,000 after acquiring an additional 2,566 shares during the period. Providence Wealth Advisors LLC increased its holdings in PPG Industries by 3.0% during the 1st quarter. Providence Wealth Advisors LLC now owns 6,213 shares of the specialty chemicals company’s stock valued at $661,000 after purchasing an additional 183 shares during the period. Sanctuary Advisors LLC raised its position in PPG Industries by 10.4% during the 1st quarter. Sanctuary Advisors LLC now owns 18,231 shares of the specialty chemicals company’s stock valued at $1,949,000 after purchasing an additional 1,710 shares during the last quarter. AMG National Trust Bank boosted its holdings in PPG Industries by 22.8% in the first quarter. AMG National Trust Bank now owns 44,008 shares of the specialty chemicals company’s stock valued at $4,704,000 after acquiring an additional 8,178 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in PPG Industries during the 1st quarter valued at $346,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Stock Down 1.1%

PPG stock opened at $117.39 on Friday. The business’s 50-day moving average price is $114.79 and its 200-day moving average price is $112.87. The stock has a market cap of $26.17 billion, a P/E ratio of 16.75, a PEG ratio of 1.73 and a beta of 1.05. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 0.78. PPG Industries, Inc. has a twelve month low of $93.39 and a twelve month high of $133.43.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share for the quarter, topping the consensus estimate 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 quarter in the prior year, the firm posted $1.72 EPS. PPG Industries’s quarterly revenue was up 6.7% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, equities research analysts forecast that PPG Industries, Inc. will post 7.92 EPS for the current year.

PPG Industries Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Monday, August 10th. This is a boost from PPG Industries’s previous quarterly dividend of $0.71. This represents a $2.96 dividend on an annualized basis and a yield of 2.5%. PPG Industries’s dividend payout ratio is currently 40.51%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Jefferies Financial Group reduced their target price on PPG Industries from $125.00 to $116.00 and set a “hold” rating on the stock in a report on Thursday, March 26th. Weiss Ratings raised PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Wells Fargo & Company lowered their price objective on PPG Industries from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday, April 10th. JPMorgan Chase & Co. dropped their target price on shares of PPG Industries from $126.00 to $125.00 in a report on Thursday, April 30th. Finally, Mizuho increased their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. 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 data from MarketBeat.com, PPG Industries currently has an average rating of “Hold” and an average target price of $126.13.

About PPG Industries

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.