PPG Industries, Inc. $PPG Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lessened its stake in PPG Industries, Inc. (NYSE:PPG) by 13.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 10,249 shares of the specialty chemicals company’s stock after selling 1,554 shares during the period. QRG Capital Management Inc.’s holdings in PPG Industries were worth $1,166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in PPG. Price T Rowe Associates Inc. MD boosted its position in 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 worth $524,627,000 after acquiring an additional 1,766,518 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of PPG Industries in the 1st quarter valued at about $127,152,000. Pzena Investment Management LLC acquired a new position in PPG Industries during the 1st quarter valued at about $105,349,000. Nuveen LLC acquired a new position in PPG Industries during the 1st quarter valued at about $79,881,000. Finally, Wellington Management Group LLP raised its position in shares of PPG Industries by 5.6% during 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 in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PPG. Wells Fargo & Company boosted their price target on shares of PPG Industries from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. UBS Group decreased their price objective on shares of PPG Industries from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Monday. Weiss Ratings restated a “hold (c)” rating on shares of PPG Industries in a research note on Wednesday. Royal Bank Of Canada increased 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, Citigroup lowered their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $127.09.

PPG Industries Price Performance

NYSE PPG opened at $101.49 on Thursday. The company has a market capitalization of $22.91 billion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 2.11 and a beta of 1.16. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $132.18. The firm’s 50 day moving average is $108.30 and its 200-day moving average is $109.26. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76.

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

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, August 11th were given a $0.71 dividend. The ex-dividend date of this dividend was Monday, August 11th. This is a boost from PPG Industries’s previous quarterly dividend of $0.68. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.8%. PPG Industries’s dividend payout ratio (DPR) is presently 64.40%.

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.