Savant Capital LLC Increases Position in PPG Industries, Inc. $PPG

Savant Capital LLC raised its position in shares of PPG Industries, Inc. (NYSE:PPG) by 14.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,595 shares of the specialty chemicals company’s stock after purchasing an additional 1,549 shares during the period. Savant Capital LLC’s holdings in PPG Industries were worth $1,433,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP lifted its position in PPG Industries by 5.6% in the 1st quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company’s stock worth $1,220,259,000 after buying an additional 592,152 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of PPG Industries by 58.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company’s stock worth $524,627,000 after acquiring an additional 1,766,518 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of PPG Industries by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,937,274 shares of the specialty chemicals company’s stock valued at $321,147,000 after purchasing an additional 105,973 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of PPG Industries by 3.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,734,270 shares of the specialty chemicals company’s stock valued at $298,992,000 after buying an additional 85,891 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of PPG Industries by 2.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,174,762 shares of the specialty chemicals company’s stock valued at $237,810,000 after acquiring an additional 60,301 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Stock Up 1.5%

PPG opened at $97.37 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.47 and a debt-to-equity ratio of 0.76. The firm has a 50 day moving average price of $103.20 and a 200-day moving average price of $108.74. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $130.05. The stock has a market capitalization of $21.85 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 2.13 and a beta of 1.19.

PPG Industries (NYSE:PPG) last posted its earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.04. PPG Industries had a return on equity of 24.17% and a net margin of 6.35%.The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the prior year, the company earned $2.13 earnings per share. PPG Industries’s revenue was up 1.2% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Equities research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Monday, November 10th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, November 10th. PPG Industries’s payout ratio is currently 64.40%.

Analysts Set New Price Targets

PPG has been the topic of a number of analyst reports. Evercore ISI decreased their price target on PPG Industries from $145.00 to $112.00 and set an “in-line” rating on the stock in a research note on Tuesday. Mizuho decreased their price objective on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. Wells Fargo & Company lowered their price objective on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. JPMorgan Chase & Co. raised PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 target price on the stock in a research note on Thursday, October 16th. Finally, UBS Group lowered their price target on PPG Industries from $115.00 to $110.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, PPG Industries has an average rating of “Hold” and a consensus target price of $123.18.

PPG Industries Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.