PPG Industries, Inc. $PPG Shares Acquired by Heartland Advisors Inc.

Heartland Advisors Inc. grew its holdings in PPG Industries, Inc. (NYSE:PPG) by 71.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 64,765 shares of the specialty chemicals company’s stock after purchasing an additional 26,884 shares during the quarter. Heartland Advisors Inc.’s holdings in PPG Industries were worth $6,922,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Pzena Investment Management LLC boosted its position in PPG Industries by 306.2% in the 4th quarter. Pzena Investment Management LLC now owns 7,098,767 shares of the specialty chemicals company’s stock valued at $727,340,000 after buying an additional 5,351,103 shares during the period. Franklin Resources Inc. increased its position in shares of 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 worth $716,256,000 after acquiring an additional 2,295,118 shares during the period. Norges Bank acquired a new stake in shares of PPG Industries in the fourth quarter valued at $209,355,000. Bank of New York Mellon Corp raised its stake in shares of PPG Industries by 85.6% in the first quarter. Bank of New York Mellon Corp now owns 2,507,399 shares of the specialty chemicals company’s stock valued at $267,991,000 after acquiring an additional 1,156,078 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in PPG Industries by 254.9% in the fourth quarter. Bank of Montreal Can now owns 1,334,707 shares of the specialty chemicals company’s stock valued at $136,754,000 after purchasing an additional 958,580 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Jefferies Financial Group cut their price target on PPG Industries from $125.00 to $116.00 and set a “hold” rating on the stock in a report on Thursday, March 26th. Bank of America upgraded PPG Industries from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $127.00 to $134.00 in a research note on Friday. Deutsche Bank Aktiengesellschaft boosted their price objective on PPG Industries from $120.00 to $130.00 in a research report on Friday, March 27th. Weiss Ratings upgraded shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. Finally, BMO Capital Markets reduced their target price on shares of PPG Industries from $140.00 to $138.00 and set an “outperform” rating on the stock in a report on Monday, July 6th. Seven analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $126.13.

PPG Industries Stock Down 1.1%

PPG Industries stock opened at $117.39 on Friday. PPG Industries, Inc. has a 1-year low of $93.39 and a 1-year high of $133.43. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.61 and a quick ratio of 1.17. The stock has a market cap of $26.17 billion, a PE ratio of 16.75, a P/E/G ratio of 1.72 and a beta of 1.05. The stock’s fifty day moving average is $114.79 and its two-hundred day moving average is $112.87.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.05. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.The business had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.85 billion. During the same period in the prior year, the firm posted $1.72 EPS. The business’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, sell-side analysts expect that PPG Industries, Inc. will post 7.94 EPS for the current fiscal year.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 10th will be paid a $0.74 dividend. This is an increase from PPG Industries’s previous quarterly dividend of $0.71. This represents a $2.96 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, August 10th. PPG Industries’s payout ratio is currently 42.23%.

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.