US stock futures muted with Jackson Hole, retail earnings on tap
PITTSBURGH - PPG Industries, a global manufacturer with a market capitalization of $22.55 billion and a strong financial health rating according to InvestingPro, announced on Monday the election of Leon J. Topalian, CEO of Nucor Corporation, to its board of directors effective July 16, 2025. Topalian, who has nearly three decades of experience in the steel production industry, will serve on both the Audit Committee and the Sustainability and Innovation Committee of PPG’s board.
Topalian’s tenure at Nucor, North America’s largest and most diversified steel and steel products producer, includes roles as chair of the board since 2022 and president and CEO since 2020. His career at Nucor began in 1996 as a Project Engineer, eventually ascending to leadership positions, including executive vice president of Beam and Plate Products.
PPG’s lead independent director, Michael W. Lamach, expressed confidence in Topalian’s appointment, noting the strength he brings to the board in supporting PPG’s growth strategy. Timothy M. Knavish, PPG chairman and CEO, also welcomed Topalian, highlighting his manufacturing and operations expertise as valuable assets for PPG’s leadership team.
The appointment comes as PPG, a global supplier of paints, coatings, and specialty materials, continues to innovate and expand its operations. The company, with a reported net sales of $15.8 billion in 2024, operates in over 70 countries and serves various markets, including construction, consumer products, and transportation. According to InvestingPro, PPG maintains an impressive track record of 54 consecutive years of dividend increases, with a current dividend yield of 2.72%.Investors seeking detailed analysis can access PPG’s comprehensive Pro Research Report, available exclusively on InvestingPro, which includes in-depth financial analysis and expert insights.
This move is part of PPG’s ongoing efforts to enhance its board’s capabilities and expertise in line with the company’s strategic direction. With analyst price targets suggesting potential upside and the company currently trading below its Fair Value, PPG continues to demonstrate strong fundamentals with a gross profit margin of 41.91% and positive earnings forecasts for the upcoming year. The information for this article is based on a press release statement and financial data from InvestingPro.
In other recent news, PPG Industries has declared its 507th consecutive quarterly dividend, continuing its long-standing tradition of shareholder returns. The company announced a dividend of 68 cents per share, payable on June 12, reflecting its stable financial performance and commitment to investors. PPG Industries reported net sales of $15.8 billion in 2024, demonstrating its extensive market reach across various sectors. In financial maneuvers, PPG has issued €900 million in notes due 2032, intending to use the proceeds for general corporate purposes, including potential acquisitions and debt repayment.
Analyst firms have made notable adjustments to PPG’s stock ratings. BofA Securities downgraded PPG from Buy to Neutral, reducing the price target to $126, citing concerns over raw material costs and economic factors. Similarly, Seaport Global Securities and JPMorgan also downgraded PPG to Neutral, with JPMorgan lowering the price target to $115. These downgrades reflect broader concerns about tariff impacts and competitive pressures from industry peers like Axalta.
PPG Industries faces challenges in its Industrial Coatings sector due to tariff policies, which could affect demand and production. Despite these challenges, the company is implementing cost measures to enhance earnings leverage in anticipation of market recovery. PPG’s strategic financial activities and analyst assessments indicate a cautious outlook amidst economic uncertainties.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.