First National Trust Co Cuts Holdings in PPG Industries, Inc. $PPG

First National Trust Co trimmed its stake in PPG Industries, Inc. (NYSE:PPG) by 7.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,398 shares of the specialty chemicals company’s stock after selling 1,614 shares during the quarter. First National Trust Co’s holdings in PPG Industries were worth $2,320,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in PPG Industries by 5.6% in the first quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company’s stock valued at $1,220,259,000 after acquiring an additional 592,152 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in PPG Industries by 58.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company’s stock valued at $524,627,000 after acquiring an additional 1,766,518 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in PPG Industries by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,937,274 shares of the specialty chemicals company’s stock valued at $321,147,000 after acquiring an additional 105,973 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in PPG Industries by 3.2% in 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 acquiring an additional 85,891 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in PPG Industries by 2.9% in the first 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 hedge funds and other institutional investors.

PPG Industries Stock Performance

NYSE PPG opened at $105.24 on Wednesday. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $130.05. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76. The firm has a market cap of $23.75 billion, a P/E ratio of 23.86, a price-to-earnings-growth ratio of 2.22 and a beta of 1.16. The company’s 50 day moving average is $106.51 and its 200-day moving average is $109.09.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 EPS for the quarter, beating the consensus estimate of $2.09 by $0.04. The firm had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.06 billion. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm earned $2.13 EPS. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Sell-side analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The firm 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 dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.7%. The ex-dividend date is Monday, November 10th. PPG Industries’s payout ratio is presently 64.40%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of 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. UBS Group dropped their target price on shares of PPG Industries from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Royal Bank Of Canada boosted their price target on shares of PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a research report on Friday, August 1st. Bank of America lowered their price target on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Finally, Wells Fargo & Company lowered their price target on shares of PPG Industries from $135.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, PPG Industries currently has an average rating of “Moderate Buy” and a consensus price target of $125.00.

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.