PPG Industries, Inc. $PPG Stock Position Trimmed by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its position in PPG Industries, Inc. (NYSE:PPG) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 120,102 shares of the specialty chemicals company’s stock after selling 1,957 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of PPG Industries worth $13,662,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its position in PPG Industries by 0.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 249,755 shares of the specialty chemicals company’s stock valued at $27,311,000 after purchasing an additional 1,697 shares during the last quarter. Clear Creek Financial Management LLC bought a new stake in PPG Industries in the 1st quarter valued at about $240,000. Principal Financial Group Inc. lifted its position in PPG Industries by 4.4% in the 1st quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company’s stock valued at $33,129,000 after purchasing an additional 12,650 shares during the last quarter. Meridian Wealth Management LLC lifted its position in PPG Industries by 311.2% in the 1st quarter. Meridian Wealth Management LLC now owns 7,665 shares of the specialty chemicals company’s stock valued at $838,000 after purchasing an additional 5,801 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its position in PPG Industries by 966.3% in the 1st quarter. Golden State Wealth Management LLC now owns 885 shares of the specialty chemicals company’s stock valued at $97,000 after purchasing an additional 802 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PPG has been the topic of several recent research reports. Citigroup cut their price objective on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, October 6th. Royal Bank Of Canada boosted their price target 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. Weiss Ratings restated a “hold (c)” rating on shares of PPG Industries in a research report on Wednesday, October 8th. UBS Group dropped their price target on shares of 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, Mizuho dropped their price target on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.73.

PPG Industries Stock Performance

Shares of PPG opened at $101.55 on Monday. The firm’s 50 day moving average is $107.49 and its 200-day moving average is $108.79. The stock has a market capitalization of $22.92 billion, a P/E ratio of 23.03, a P/E/G ratio of 2.14 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, Inc. has a 12-month low of $90.24 and a 12-month high of $132.18.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.22. The company had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.16 billion. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The business’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.50 EPS. 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 EPS for the current fiscal year.

PPG Industries Dividend Announcement

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

PPG Industries Company 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.