Kingsview Wealth Management LLC Invests $5.73 Million in PPG Industries, Inc. $PPG

Kingsview Wealth Management LLC acquired a new position in PPG Industries, Inc. (NYSE:PPG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 47,223 shares of the specialty chemicals company’s stock, valued at approximately $5,728,000.

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

PPG Industries Trading Up 0.5%

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 firm has a market cap of $25.36 billion, a price-to-earnings ratio of 16.34, a PEG ratio of 1.65 and a beta of 1.07. The firm has a 50 day simple moving average of $116.77 and a 200-day simple moving average of $113.70. PPG Industries, Inc. has a one year low of $93.39 and a one year high of $133.43.

PPG Industries (NYSE:PPG) last issued 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). The business had revenue of $4.50 billion during the quarter, compared to analysts’ expectations of $4.37 billion. PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.22 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Equities 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. Investors of record on Monday, August 10th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis 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%.

Analysts Set New Price Targets

PPG has been the subject of several research analyst reports. Bank of America raised shares of PPG Industries from a “neutral” rating to a “buy” rating and increased their target price for the stock from $127.00 to $134.00 in a research note on Friday, July 17th. 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. BMO Capital Markets lowered their price objective on shares of PPG Industries from $140.00 to $138.00 and set an “outperform” rating for the company in a research report on Monday, July 6th. Citigroup dropped their target price on shares of PPG Industries from $125.00 to $121.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Finally, Mizuho boosted their target price on 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $126.00.

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.