TD Asset Management Inc Sells 6,421 Shares of PPG Industries, Inc. $PPG

TD Asset Management Inc reduced its stake in PPG Industries, Inc. (NYSE:PPG) by 2.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 229,514 shares of the specialty chemicals company’s stock after selling 6,421 shares during the quarter. TD Asset Management Inc’s holdings in PPG Industries were worth $26,107,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in PPG Industries by 58.3% in the 1st 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 purchasing an additional 1,766,518 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of PPG Industries in the first quarter valued at approximately $127,152,000. Pzena Investment Management LLC acquired a new stake in shares of PPG Industries during the 1st quarter worth approximately $105,349,000. Nuveen LLC bought a new stake in shares of PPG Industries during the first quarter worth approximately $79,881,000. Finally, Wellington Management Group LLP lifted its stake in shares of PPG Industries by 5.6% in the 1st 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 purchasing an additional 592,152 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $101.55 on Friday. The firm’s fifty day moving average is $107.49 and its 200-day moving average is $108.76. 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 52 week low of $90.24 and a 52 week high of $132.18. The firm has a market cap of $22.92 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 2.12 and a beta of 1.16.

PPG Industries (NYSE:PPG) last announced 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. 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 during the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter last year, the firm earned $2.50 earnings per share. PPG Industries’s quarterly revenue was down .9% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Sell-side analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Monday, November 10th will be issued a $0.71 dividend. The ex-dividend date is Monday, November 10th. This represents a $2.84 annualized dividend and a yield of 2.8%. PPG Industries’s dividend payout ratio is presently 64.40%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PPG. Bank of America reduced their price target on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. raised shares of PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 price objective on the stock in a research report on Thursday. Mizuho cut their price objective on PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. UBS Group lowered their price target 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. Finally, Wells Fargo & Company dropped their price objective on shares of PPG Industries from $135.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, PPG Industries presently has an average rating of “Moderate Buy” and an average price target of $127.73.

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.