PPG Industries, Inc. $PPG Shares Purchased by AG2R LA Mondiale Gestion D Actifs

AG2R LA Mondiale Gestion D Actifs raised its stake in PPG Industries, Inc. (NYSE:PPG) by 5.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,947 shares of the specialty chemicals company’s stock after acquiring an additional 550 shares during the quarter. AG2R LA Mondiale Gestion D Actifs’ holdings in PPG Industries were worth $1,245,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PPG. Focus Partners Advisor Solutions LLC raised its stake in PPG Industries by 31.3% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 4,326 shares of the specialty chemicals company’s stock valued at $492,000 after purchasing an additional 1,030 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of PPG Industries by 1.5% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 648,973 shares of the specialty chemicals company’s stock worth $73,821,000 after buying an additional 9,282 shares in the last quarter. AlTi Global Inc. lifted its stake in shares of PPG Industries by 12.5% during the second quarter. AlTi Global Inc. now owns 2,352 shares of the specialty chemicals company’s stock valued at $268,000 after buying an additional 261 shares during the period. Forum Financial Management LP grew its stake in PPG Industries by 31.4% in the 2nd quarter. Forum Financial Management LP now owns 2,932 shares of the specialty chemicals company’s stock worth $334,000 after acquiring an additional 700 shares during the period. Finally, Ethic Inc. lifted its stake in shares of PPG Industries by 19.3% during the 2nd quarter. Ethic Inc. now owns 43,836 shares of the specialty chemicals company’s stock worth $5,004,000 after purchasing an additional 7,091 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Trading Down 0.1%

Shares of PPG stock opened at $103.43 on Friday. The stock has a market cap of $23.34 billion, a price-to-earnings ratio of 23.45, a price-to-earnings-growth ratio of 2.18 and a beta of 1.16. 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 fifty-two week low of $90.24 and a fifty-two week high of $130.05. The firm’s 50 day moving average price is $106.77 and its two-hundred day moving average price is $108.98.

PPG Industries (NYSE:PPG) last released 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. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The company had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same quarter in the prior year, the business earned $2.50 earnings per share. The business’s quarterly revenue was down .9% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, analysts anticipate that PPG Industries, Inc. will post 7.95 EPS 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 paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Monday, November 10th. PPG Industries’s payout ratio is currently 64.40%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PPG. JPMorgan Chase & Co. raised PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 price objective for the company in a research report on Thursday, October 16th. Citigroup lowered their price target on PPG Industries from $124.00 to $120.00 and set a “buy” rating for the company in a report on Monday, October 6th. Bank of America cut their price objective on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. UBS Group lowered their target price on shares of PPG Industries from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Finally, Wells Fargo & Company dropped their price target on shares of PPG Industries from $135.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday, October 10th. One research 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.