Hazlett Burt & Watson Inc. Sells 174 Shares of PPG Industries, Inc. $PPG

Hazlett Burt & Watson Inc. lowered its position in shares of PPG Industries, Inc. (NYSE:PPG) by 6.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,595 shares of the specialty chemicals company’s stock after selling 174 shares during the period. Hazlett Burt & Watson Inc.’s holdings in PPG Industries were worth $296,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP increased its position in shares of PPG Industries by 5.6% during 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 in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of PPG Industries by 58.3% during 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 in the last quarter. Dimensional Fund Advisors LP increased its position in shares of PPG Industries by 3.7% during 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 in the last quarter. Charles Schwab Investment Management Inc. grew its position in PPG Industries by 3.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,734,270 shares of the specialty chemicals company’s stock worth $298,992,000 after purchasing an additional 85,891 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in 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 worth $237,810,000 after purchasing an additional 60,301 shares during the period. Institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Down 1.2%

Shares of PPG Industries stock opened at $98.45 on Monday. The company’s fifty day simple moving average is $108.07 and its 200-day simple moving average is $109.06. The stock has a market capitalization of $22.22 billion, a PE ratio of 22.32, a P/E/G ratio of 2.04 and a beta of 1.16. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $132.18. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.04.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, hitting the consensus estimate of $2.22. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The business had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.16 billion. During the same quarter last year, the company posted $2.50 EPS. The company’s revenue was down .9% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. As a group, equities analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Monday, August 11th were paid a dividend of $0.71 per share. This is a positive change from PPG Industries’s previous quarterly dividend of $0.68. The ex-dividend date was Monday, August 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. PPG Industries’s dividend payout ratio is presently 64.40%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PPG shares. Wells Fargo & Company cut their target price on shares of PPG Industries from $135.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday. Citigroup cut their target price on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, October 6th. Mizuho cut their target price on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Royal Bank Of Canada lifted their target price on shares of PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Friday, August 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of PPG Industries in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $126.82.

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.