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PITTSBURGH - PPG (NYSE:PPG) completed the acquisition of Ozark Materials, a pavement marking solutions provider, from Ingevity Corporation (NYSE:NGVT), according to a press release statement issued today.
The all-cash transaction has a purchase price of $65 million, subject to customary adjustments. Ingevity shares have surged 141% over the past year to $74.21, trading near their 52-week high of $77.46, according to InvestingPro data.
Ozark Materials serves customers across the United States and Canada and employs approximately 130 people. The company will be integrated into PPG’s Traffic Solutions business.
"This acquisition strengthens our business by enhancing our ability to serve customers throughout North America with high-quality pavement marking solutions," said Tom Maziarz, PPG vice president, Traffic Solutions.
The transaction expands PPG’s pavement marking business to serve public- and private-sector customers.
PPG reported net sales of $15.9 billion in 2025 and operates in more than 50 countries. The company serves customers in construction, consumer products, industrial and transportation markets. For deeper insights into both companies involved in this transaction, InvestingPro offers comprehensive Pro Research Reports covering 1,400+ US equities.
In other recent news, Ingevity Corporation reported its fourth-quarter 2025 earnings, showing a mixed financial performance. The company posted a revenue of $278 million, exceeding the forecast of $266.55 million, which resulted in a 4.3% revenue surprise. However, the earnings per share (EPS) was $0.64, falling short of the expected $0.69, marking a 7.25% negative surprise. Jefferies raised its price target for Ingevity to $82 from $71, maintaining a Buy rating, despite the company missing its EPS consensus estimate of $0.67 with an actual EPS of $0.58. Ingevity’s 2026 earnings per share guidance is between $4.80 to $5.20, compared to consensus expectations of $4.71. Additionally, BMO Capital raised its price target on Ingevity to $83, projecting a two-year earnings per share compound annual growth rate of nearly 20%. BMO Capital maintained an Outperform rating on the stock, citing a positive growth outlook for 2026. These developments reflect varying analyst expectations and projections for the company’s future performance.
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