Manning & Napier Advisors LLC Invests $4.06 Million in PPG Industries, Inc. $PPG

Manning & Napier Advisors LLC purchased a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 33,455 shares of the specialty chemicals company’s stock, valued at approximately $4,058,000.

Several other institutional investors have also recently bought and sold shares of the business. Meeder Asset Management Inc. bought a new stake in shares of PPG Industries during the second quarter worth $26,000. Resources Management Corp CT ADV grew its holdings in PPG Industries by 900.0% during the 4th quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 225 shares during the last quarter. Quarry LP bought a new stake in PPG Industries during the 3rd quarter worth about $26,000. Keating Financial Advisory Services Inc. acquired a new stake in PPG Industries in the 2nd quarter valued at about $28,000. Finally, Silvant Capital Management LLC bought a new position in shares of PPG Industries in the second quarter worth about $30,000. Institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Down 0.3%

Shares of PPG Industries stock opened at $113.28 on Tuesday. The business has a fifty day simple moving average of $117.15 and a 200 day simple moving average of $113.95. The stock has a market cap of $25.18 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 1.65 and a beta of 1.07. 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, Inc. has a 12 month low of $93.39 and a 12 month high of $133.43.

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). The company had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.37 billion. PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.PPG Industries’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.22 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Research analysts predict that PPG Industries, Inc. will post 7.89 EPS for the current year.

PPG Industries Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. UBS Group decreased their price target on shares of PPG Industries from $130.00 to $125.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. JPMorgan Chase & Co. decreased their price objective on PPG Industries from $126.00 to $125.00 in a research report on Thursday, April 30th. Royal Bank Of Canada dropped their target price on PPG Industries from $129.00 to $122.00 and set a “sector perform” 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, Bank of America upgraded PPG Industries from a “neutral” rating to a “buy” rating and raised their price target for the company from $127.00 to $134.00 in a report on Friday, July 17th. Seven research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, PPG Industries has an average rating of “Hold” and a consensus price target of $126.00.

PPG Industries 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.