Stock Yards Bank & Trust Co. Has $1.62 Million Stock Position in PPG Industries, Inc. $PPG

Stock Yards Bank & Trust Co. lowered its stake in PPG Industries, Inc. (NYSE:PPG) by 3.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,236 shares of the specialty chemicals company’s stock after selling 494 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in PPG Industries were worth $1,619,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. DHJJ Financial Advisors Ltd. acquired a new position in shares of PPG Industries in the 2nd quarter valued at $114,000. Mattern Capital Management LLC lifted its stake in shares of PPG Industries by 3.3% in the 2nd quarter. Mattern Capital Management LLC now owns 73,206 shares of the specialty chemicals company’s stock valued at $8,327,000 after purchasing an additional 2,329 shares during the period. Cromwell Holdings LLC raised its stake in PPG Industries by 39.7% during the 2nd quarter. Cromwell Holdings LLC now owns 549 shares of the specialty chemicals company’s stock worth $62,000 after buying an additional 156 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in PPG Industries by 12.2% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,329 shares of the specialty chemicals company’s stock worth $4,360,000 after buying an additional 4,164 shares during the period. Finally, Jmac Enterprises LLC raised its stake in PPG Industries by 5.9% during the 2nd quarter. Jmac Enterprises LLC now owns 7,200 shares of the specialty chemicals company’s stock worth $819,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PPG. Wells Fargo & Company raised their price objective on PPG Industries from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Citigroup raised their price objective on PPG Industries from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, June 13th. Mizuho dropped their price objective on PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday. UBS Group raised their price objective on PPG Industries from $111.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 9th. Finally, Royal Bank Of Canada raised their price objective on PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $128.91.

PPG Industries Stock Performance

PPG opened at $104.36 on Friday. The business’s 50-day moving average price is $108.83 and its two-hundred day moving average price is $109.43. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $132.18. The company has a market capitalization of $23.55 billion, a price-to-earnings ratio of 23.66, a P/E/G ratio of 2.16 and a beta of 1.16. 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 released its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.22. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The firm had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter last year, the business posted $2.50 EPS. The company’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. Equities analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, August 11th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Monday, August 11th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.68. PPG Industries’s dividend payout ratio is 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.