PPG Industries, Inc. $PPG Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lessened its holdings in PPG Industries, Inc. (NYSE:PPG) by 80.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 20,116 shares of the specialty chemicals company’s stock after selling 80,601 shares during the period. Intech Investment Management LLC’s holdings in PPG Industries were worth $2,288,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of PPG. Capital Advisors Ltd. LLC boosted its holdings in shares of PPG Industries by 127.6% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock valued at $25,000 after acquiring an additional 125 shares during the last quarter. Cheviot Value Management LLC acquired a new position in PPG Industries during the first quarter valued at $26,000. Headlands Technologies LLC acquired a new position in PPG Industries during the first quarter valued at $30,000. Gladwyn Financial Advisors Inc. purchased a new stake in PPG Industries in the second quarter valued at $31,000. Finally, Addison Advisors LLC grew its position in PPG Industries by 1,515.8% during the 2nd quarter. Addison Advisors LLC now owns 307 shares of the specialty chemicals company’s stock worth $35,000 after purchasing an additional 288 shares during the period. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Up 1.0%

PPG Industries stock opened at $95.28 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.47 and a quick ratio of 1.04. The stock has a market capitalization of $21.38 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 2.13 and a beta of 1.19. The business has a 50 day simple moving average of $101.49 and a 200-day simple moving average of $108.27. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $130.05.

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

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, November 10th will be given a $0.71 dividend. The ex-dividend date is Monday, November 10th. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. PPG Industries’s dividend payout ratio (DPR) is 64.40%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. raised PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 price objective for the company in a report on Thursday, October 16th. Royal Bank Of Canada boosted their price target on PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a report on Friday, August 1st. Evercore ISI dropped their price objective on shares of PPG Industries from $145.00 to $112.00 and set an “in-line” rating on the stock in a research note on Tuesday, November 11th. Bank of America cut their target price on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Finally, Wells Fargo & Company lowered their price target on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, PPG Industries currently has an average rating of “Hold” and a consensus target price of $123.18.

About PPG Industries

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.