Canal Capital Management LLC Makes New Investment in PPG Industries, Inc. $PPG

Canal Capital Management LLC purchased a new stake in PPG Industries, Inc. (NYSE:PPG) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 66,676 shares of the specialty chemicals company’s stock, valued at approximately $7,126,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dorato Capital Management acquired a new position in shares of PPG Industries during the 4th quarter valued at $26,000. Resources Management Corp CT ADV boosted its position in shares of 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 purchasing an additional 225 shares in the last quarter. Quarry LP acquired a new position in PPG Industries during the 3rd quarter worth approximately $26,000. Aster Capital Management DIFC Ltd bought a new position in PPG Industries in the fourth quarter worth approximately $30,000. Finally, DV Equities LLC bought a new position in PPG Industries in the fourth quarter worth approximately $32,000. Institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PPG. The Goldman Sachs Group lowered their target price on PPG Industries from $134.00 to $130.00 in a research report on Friday, May 1st. Mizuho raised their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. reduced their price objective on shares of PPG Industries from $126.00 to $125.00 in a report on Thursday, April 30th. UBS Group boosted their target price on shares of PPG Industries from $110.00 to $116.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Finally, Weiss Ratings raised shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Six analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $124.40.

PPG Industries Stock Down 0.0%

Shares of NYSE PPG opened at $125.30 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 0.78. The company has a market cap of $27.93 billion, a P/E ratio of 17.87, a P/E/G ratio of 1.83 and a beta of 1.05. PPG Industries, Inc. has a 52 week low of $93.39 and a 52 week high of $133.43. The business has a 50-day simple moving average of $113.12 and a two-hundred day simple moving average of $111.91.

PPG Industries (NYSE:PPG) last posted its earnings results 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. The business had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.85 billion. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.72 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Research analysts anticipate that PPG Industries, Inc. will post 7.93 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, May 11th were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.3%. PPG Industries’s dividend payout ratio is presently 40.51%.

PPG Industries Company 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.