Allstate Corp Acquires 7,200 Shares of PPG Industries, Inc. $PPG

Allstate Corp boosted its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 87.6% during the 4th quarter, Holdings Channel reports. The fund owned 15,416 shares of the specialty chemicals company’s stock after buying an additional 7,200 shares during the period. Allstate Corp’s holdings in PPG Industries were worth $1,580,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Dorato Capital Management bought a new stake in shares of PPG Industries in the 4th quarter valued at about $26,000. Quarry LP acquired a new stake in PPG Industries in the 3rd quarter worth approximately $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in PPG Industries during the 4th quarter worth approximately $51,000. Entrust Financial LLC purchased a new position in PPG Industries during the 4th quarter worth approximately $55,000. Finally, Cornerstone Planning Group LLC increased its holdings in shares of PPG Industries by 2,500.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 572 shares of the specialty chemicals company’s stock valued at $60,000 after purchasing an additional 550 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Stock Up 0.2%

Shares of PPG opened at $113.05 on Friday. The firm has a market cap of $25.20 billion, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 1.65 and a beta of 1.06. PPG Industries, Inc. has a 12-month low of $93.39 and a 12-month high of $133.43. The company’s 50-day moving average price is $107.36 and its 200 day moving average price is $108.49. The company has a current ratio of 1.61, a quick ratio of 1.17 and a debt-to-equity ratio of 0.78.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.85 billion. During the same period in the prior year, the firm earned $1.72 earnings per share. The business’s revenue for the quarter 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 forecast that PPG Industries, Inc. will post 7.93 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Monday, May 11th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, May 11th. PPG Industries’s dividend payout ratio is currently 40.51%.

Wall Street Analyst Weigh In

PPG has been the subject of several recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of PPG Industries in a report on Monday, May 11th. UBS Group lifted their target price on shares of PPG Industries from $110.00 to $116.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Sanford C. Bernstein lifted their target price on shares of PPG Industries from $123.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, January 30th. Wells Fargo & Company lowered their target price on shares of PPG Industries from $135.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, April 10th. Finally, Citigroup lifted their target price on shares of PPG Industries from $113.00 to $114.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Five equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, PPG Industries presently has an average rating of “Hold” and an average price target of $121.79.

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.