Commerce Bank Invests $2.34 Million in PPG Industries, Inc. $PPG

by · The Markets Daily

Commerce Bank purchased a new stake in shares of PPG Industries, Inc. (NYSE:PPG – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 19,308 shares of the specialty chemicals company’s stock, valued at approximately $2,342,000.

Several other large investors have also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in PPG Industries during the 2nd quarter valued at about $2,856,392,000. Pzena Investment Management LLC bought a new stake in PPG Industries during the 2nd quarter valued at about $946,964,000. Bank of New York Mellon Corp purchased a new position in PPG Industries in the second quarter worth about $318,870,000. Franklin Resources Inc. raised its holdings in PPG Industries by 48.9% in the fourth quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company’s stock worth $716,256,000 after buying an additional 2,295,118 shares during the last quarter. Finally, Norges Bank bought a new position in shares of PPG Industries in the fourth quarter worth approximately $209,355,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Down 0.3%

Shares of PPG stock opened at $113.28 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.15 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. The stock has a market cap of $25.18 billion, a P/E ratio of 16.23, a P/E/G ratio of 1.65 and a beta of 1.07. The company has a 50 day simple moving average of $117.15 and a two-hundred day simple moving average of $113.95.

PPG Industries (NYSE:PPG – Get Free Report) last released its quarterly 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 the consensus estimate of $4.37 billion. PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.22 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, research analysts expect that PPG Industries, Inc. will post 7.89 earnings per share for the current year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 2.6%. 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. PPG Industries’s payout ratio is presently 42.41%.

Analyst Upgrades and Downgrades

PPG has been the topic of a number of recent analyst reports. Citigroup cut their price target on shares of PPG Industries from $125.00 to $121.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Wall Street Zen lowered shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. The Goldman Sachs Group lowered their price objective on PPG Industries from $134.00 to $130.00 in a research report on Friday, May 1st. Bank of America upgraded PPG Industries from a “neutral” rating to a “buy” rating and increased their target price for the company from $127.00 to $134.00 in a research note on Friday, July 17th. Finally, BMO Capital Markets reduced their target price on PPG Industries from $140.00 to $138.00 and set an “outperform” rating for the company in a report on Monday, July 6th. Seven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $126.00.

Read Our Latest Research Report on PPG Industries

PPG Industries Company Profile

(Free Report)

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.

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