Nordea Investment Management AB Increases Position in PPG Industries, Inc. $PPG

Nordea Investment Management AB grew its holdings in PPG Industries, Inc. (NYSE:PPG) by 4.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,416 shares of the specialty chemicals company’s stock after purchasing an additional 938 shares during the quarter. Nordea Investment Management AB’s holdings in PPG Industries were worth $2,324,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP lifted its position in PPG Industries by 5.6% during the first quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company’s stock worth $1,220,259,000 after buying an additional 592,152 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of 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 acquiring an additional 1,766,518 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of PPG Industries by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,937,274 shares of the specialty chemicals company’s stock worth $321,147,000 after acquiring an additional 105,973 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of PPG Industries by 3.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,734,270 shares of the specialty chemicals company’s stock worth $298,992,000 after acquiring an additional 85,891 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of PPG Industries by 2.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,174,762 shares of the specialty chemicals company’s stock valued at $237,810,000 after acquiring an additional 60,301 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Price Performance

PPG opened at $102.05 on Thursday. The stock’s 50-day moving average price is $107.11 and its 200 day moving average price is $108.73. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $130.05. The firm has a market cap of $23.03 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 2.20 and a beta of 1.16. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results 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. 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 for the quarter, compared to analysts’ expectations of $4.16 billion. During the same quarter in the prior year, the company earned $2.50 earnings per share. The business’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. As a group, sell-side analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors 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 dividend on an annualized basis and a yield of 2.8%. PPG Industries’s dividend payout ratio (DPR) is 64.40%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Bank of America reduced their target price on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. JPMorgan Chase & Co. upgraded PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 price objective on the stock in a report on Thursday, October 16th. Royal Bank Of Canada increased their price objective 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. Wells Fargo & Company reduced 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, October 10th. Finally, Citigroup decreased their price target on PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $125.00.

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.