Cooke & Bieler LP Boosts Stock Holdings in PPG Industries, Inc. $PPG

Cooke & Bieler LP raised its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 18.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,337,543 shares of the specialty chemicals company’s stock after acquiring an additional 206,144 shares during the quarter. PPG Industries accounts for approximately 1.5% of Cooke & Bieler LP’s investment portfolio, making the stock its 20th biggest position. Cooke & Bieler LP’s holdings in PPG Industries were worth $152,146,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC boosted its position in shares of PPG Industries by 9.1% during the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock valued at $487,000 after buying an additional 339 shares during the last quarter. Clear Creek Financial Management LLC purchased a new stake in shares of PPG Industries during the first quarter valued at $240,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of PPG Industries by 2.3% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 27,046 shares of the specialty chemicals company’s stock valued at $2,957,000 after acquiring an additional 610 shares during the last quarter. Keybank National Association OH boosted its holdings in shares of PPG Industries by 1.6% during the 1st quarter. Keybank National Association OH now owns 30,054 shares of the specialty chemicals company’s stock valued at $3,286,000 after acquiring an additional 467 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of PPG Industries by 4.4% during 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 acquiring an additional 12,650 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Trading Up 0.3%

Shares of PPG Industries stock opened at $97.78 on Friday. The stock has a market capitalization of $22.07 billion, a PE ratio of 22.17, a P/E/G ratio of 2.13 and a beta of 1.16. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.47 and a quick ratio of 1.04. The company’s fifty day simple moving average is $105.65 and its 200-day simple moving average is $108.97. 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 earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, beating the consensus estimate 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%.PPG Industries’s quarterly revenue was up 1.2% compared to the same quarter last year. 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. As a group, equities analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Monday, November 10th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.84 annualized dividend and a yield of 2.9%. PPG Industries’s payout ratio is currently 64.40%.

Analysts Set New Price Targets

A number of research firms have commented on PPG. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PPG Industries in a research report on Friday. JPMorgan Chase & Co. raised PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 price target on the stock in a report on Thursday, October 16th. Wells Fargo & Company dropped their price target on PPG Industries from $132.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday. Mizuho dropped their price target on PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Finally, Citigroup dropped their target price on PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, PPG Industries presently has an average rating of “Moderate Buy” and an average target price of $124.30.

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.