IFM Investors Pty Ltd Decreases Stake in PPG Industries, Inc. $PPG

IFM Investors Pty Ltd lowered its position in PPG Industries, Inc. (NYSE:PPG) by 2.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,297 shares of the specialty chemicals company’s stock after selling 1,935 shares during the quarter. IFM Investors Pty Ltd’s holdings in PPG Industries were worth $7,359,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new position in PPG Industries in the fourth quarter worth approximately $26,000. Cheviot Value Management LLC purchased a new position in PPG Industries in the first quarter worth approximately $26,000. Headlands Technologies LLC purchased a new position in PPG Industries in the first quarter worth approximately $30,000. CVA Family Office LLC lifted its stake in PPG Industries by 70.6% in the first quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company’s stock worth $30,000 after acquiring an additional 113 shares during the last quarter. Finally, Financial Connections Group Inc. lifted its stake in PPG Industries by 74.6% in the first quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company’s stock worth $38,000 after acquiring an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Down 0.5%

PPG opened at $108.87 on Thursday. The business’s 50-day simple moving average is $112.06 and its 200-day simple moving average is $110.21. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $137.24. The stock has a market capitalization of $24.57 billion, a P/E ratio of 24.69, a price-to-earnings-growth ratio of 2.26 and a beta of 1.14.

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, meeting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.16 billion. During the same quarter in the previous year, the business earned $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. Analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, August 11th will be paid a $0.71 dividend. This is an increase from PPG Industries’s previous quarterly dividend of $0.68. This represents a $2.84 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, August 11th. PPG Industries’s dividend payout ratio (DPR) is presently 64.40%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of PPG Industries from $111.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 9th. Mizuho lifted their price target on shares of PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Citigroup increased their price target on shares of PPG Industries from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, June 13th. Wells Fargo & Company increased their price target on shares of PPG Industries from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. Finally, Royal Bank Of Canada increased 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 note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $129.82.

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.