Trust Co. of Toledo NA OH Buys New Shares in PPG Industries, Inc. $PPG

Trust Co. of Toledo NA OH acquired a new stake in PPG Industries, Inc. (NYSE:PPG) during the 2nd quarter, Holdings Channel reports. The firm acquired 1,485 shares of the specialty chemicals company’s stock, valued at approximately $169,000.

Several other large investors have also made changes to their positions in the business. Cookson Peirce & Co. Inc. lifted its position in shares of PPG Industries by 1.9% in the first quarter. Cookson Peirce & Co. Inc. now owns 4,862 shares of the specialty chemicals company’s stock valued at $532,000 after acquiring an additional 89 shares in the last quarter. Summit Financial LLC lifted its position in shares of PPG Industries by 1.3% in the first quarter. Summit Financial LLC now owns 7,246 shares of the specialty chemicals company’s stock valued at $792,000 after acquiring an additional 90 shares in the last quarter. Conning Inc. lifted its position in shares of PPG Industries by 5.5% in the first quarter. Conning Inc. now owns 1,881 shares of the specialty chemicals company’s stock valued at $206,000 after acquiring an additional 98 shares in the last quarter. Beacon Capital Management LLC lifted its position in shares of PPG Industries by 37.1% in the first quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company’s stock valued at $41,000 after acquiring an additional 101 shares in the last quarter. Finally, Bell Investment Advisors Inc lifted its position in shares of PPG Industries by 40.9% in the first quarter. Bell Investment Advisors Inc now owns 355 shares of the specialty chemicals company’s stock valued at $39,000 after acquiring an additional 103 shares in the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Trading Down 1.2%

Shares of NYSE PPG opened at $98.45 on Friday. The business’s 50 day moving average is $108.07 and its two-hundred day moving average is $109.05. 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, Inc. has a 1-year low of $90.24 and a 1-year high of $132.18. The stock has a market capitalization of $22.22 billion, a P/E ratio of 22.32, a PEG ratio of 2.04 and a beta of 1.16.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data 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 return on equity of 23.85% and a net margin of 6.25%.The company had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.16 billion. During the same period in the previous year, the firm posted $2.50 earnings per share. The firm’s revenue for the quarter was down .9% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. As a group, research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Increases Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Citigroup lowered their price objective on PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, October 6th. UBS Group decreased their target price on PPG Industries from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Wells Fargo & Company decreased their target price on PPG Industries from $135.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday. Mizuho decreased their target price on PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. Finally, Royal Bank Of Canada boosted their target price on PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, PPG Industries has a consensus rating of “Moderate Buy” and a consensus price target 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.