OLD Point Trust & Financial Services N A Sells 300 Shares of PPG Industries, Inc. $PPG

OLD Point Trust & Financial Services N A reduced its position in PPG Industries, Inc. (NYSE:PPG) by 7.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,550 shares of the specialty chemicals company’s stock after selling 300 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in PPG Industries were worth $404,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PPG. Capital Advisors Ltd. LLC boosted its position in shares of PPG Industries by 127.6% in the second quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock valued at $25,000 after acquiring an additional 125 shares during the period. Cheviot Value Management LLC bought a new stake in PPG Industries during the first quarter valued at approximately $26,000. Headlands Technologies LLC bought a new stake in PPG Industries during the first quarter valued at approximately $30,000. Gladwyn Financial Advisors Inc. bought a new stake in PPG Industries during the second quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. lifted its position in PPG Industries by 74.6% during the first quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company’s stock valued at $38,000 after purchasing an additional 150 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. upgraded shares of PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 target price for the company in a research report on Thursday, October 16th. Mizuho decreased 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 note on Friday, October 3rd. Wells Fargo & Company decreased their price target on shares of PPG Industries from $135.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, October 10th. UBS Group decreased 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 note on Monday, October 6th. Finally, Citigroup decreased their price target on shares of 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 assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, PPG Industries currently has an average rating of “Moderate Buy” and an average target price of $125.00.

PPG Industries Stock Down 2.2%

Shares of NYSE PPG opened at $102.05 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $130.05. The firm’s fifty day moving average is $107.11 and its 200 day moving average is $108.73. The company 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.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.22. The business had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.16 billion. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.50 EPS. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Monday, November 10th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, November 10th. PPG Industries’s payout ratio is presently 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.