Forsta AP Fonden Raises Stake in PPG Industries, Inc. $PPG

Forsta AP Fonden raised its holdings in PPG Industries, Inc. (NYSE:PPG) by 19.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 127,700 shares of the specialty chemicals company’s stock after purchasing an additional 20,600 shares during the quarter. Forsta AP Fonden’s holdings in PPG Industries were worth $14,526,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wellington Management Group LLP grew its holdings in shares of 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 during the last quarter. First Eagle Investment Management LLC lifted its position in PPG Industries by 21.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 5,560,280 shares of the specialty chemicals company’s stock worth $632,482,000 after acquiring an additional 971,799 shares during the period. Price T Rowe Associates Inc. MD grew 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 valued at $524,627,000 after purchasing an additional 1,766,518 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of PPG Industries by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,937,274 shares of the specialty chemicals company’s stock valued at $321,147,000 after purchasing an additional 105,973 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of PPG Industries by 3.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,734,270 shares of the specialty chemicals company’s stock worth $298,992,000 after purchasing an additional 85,891 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PPG. JPMorgan Chase & Co. upgraded shares of PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 price objective on the stock in a research report on Thursday, October 16th. Royal Bank Of Canada boosted 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. Mizuho cut their price target on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. Citigroup lowered their price objective on PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, October 6th. Finally, UBS Group dropped their target price on PPG Industries from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $123.18.

PPG Industries Stock Up 1.5%

Shares of NYSE PPG opened at $97.37 on Thursday. The stock has a market capitalization of $21.85 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 2.13 and a beta of 1.19. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $130.05. The firm has a 50-day moving average price of $103.20 and a 200 day moving average price of $108.74. The company has a quick ratio of 1.04, a current ratio of 1.47 and a debt-to-equity ratio of 0.76.

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

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Monday, November 10th will be issued a $0.71 dividend. 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 dividend payout ratio is 64.40%.

About PPG Industries

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.