New York Life Investment Management LLC Sells 321 Shares of PPG Industries, Inc. $PPG

New York Life Investment Management LLC decreased its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 33,992 shares of the specialty chemicals company’s stock after selling 321 shares during the quarter. New York Life Investment Management LLC’s holdings in PPG Industries were worth $3,867,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Capital Advisors Ltd. LLC increased its stake in PPG Industries by 127.6% during 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 position in PPG Industries during the first quarter valued at about $26,000. Headlands Technologies LLC bought a new position in PPG Industries during the first quarter valued at about $30,000. Gladwyn Financial Advisors Inc. bought a new position in PPG Industries during the second quarter valued at about $31,000. Finally, Financial Connections Group Inc. increased its stake 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 acquiring an additional 150 shares during the period. Institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. 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. UBS Group decreased their price target on shares of PPG Industries from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. upgraded shares of PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 price target on the stock in a research note on Thursday, October 16th. Royal Bank Of Canada lifted 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 note on Friday, August 1st. Finally, Bank of America decreased their price objective on PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, PPG Industries has an average rating of “Moderate Buy” and a consensus target price of $124.30.

PPG Industries Stock Down 1.8%

NYSE PPG opened at $97.34 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76. The stock’s 50 day moving average is $105.97 and its two-hundred day moving average is $108.99. The company has a market capitalization of $21.97 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 2.13 and a beta of 1.16. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $130.05.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.04. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.06 billion. PPG Industries had a return on equity of 24.17% and a net margin of 6.35%.The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.13 earnings per share. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Equities analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, November 10th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. 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.