KBC Group NV Sells 7,478 Shares of PPG Industries, Inc. $PPG

KBC Group NV reduced its holdings in PPG Industries, Inc. (NYSE:PPG) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 325,489 shares of the specialty chemicals company’s stock after selling 7,478 shares during the quarter. KBC Group NV owned about 0.14% of PPG Industries worth $37,024,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP increased its position in PPG Industries by 5.6% during the 1st quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company’s stock valued at $1,220,259,000 after purchasing an additional 592,152 shares during the period. First Eagle Investment Management LLC increased its position in shares of PPG Industries by 21.2% during the second quarter. First Eagle Investment Management LLC now owns 5,560,280 shares of the specialty chemicals company’s stock valued at $632,482,000 after buying an additional 971,799 shares during the period. Price T Rowe Associates Inc. MD raised its stake in PPG Industries by 58.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company’s stock worth $524,627,000 after buying an additional 1,766,518 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in 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 worth $321,147,000 after buying an additional 105,973 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in PPG Industries by 3.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,734,270 shares of the specialty chemicals company’s stock valued at $298,992,000 after acquiring an additional 85,891 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of PPG opened at $97.37 on Thursday. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $130.05. The company has a market capitalization of $21.85 billion, a P/E ratio of 22.08, a price-to-earnings-growth ratio of 2.13 and a beta of 1.19. The firm has a 50 day moving average of $103.20 and a 200 day moving average 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 EPS for the quarter, beating the consensus estimate of $2.09 by $0.04. The business 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 revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $2.13 EPS. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. As a group, equities research analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently announced 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. The ex-dividend date is Monday, November 10th. This represents a $2.84 annualized dividend and a yield of 2.9%. PPG Industries’s dividend payout ratio is currently 64.40%.

Wall Street Analysts Forecast Growth

PPG has been the subject of a number of research reports. Zacks Research downgraded PPG Industries from a “hold” rating to a “strong sell” rating in a report on Monday. Mizuho decreased their price target on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Citigroup dropped their price objective 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. JPMorgan Chase & Co. raised 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 note on Thursday, October 16th. Finally, Royal Bank Of Canada lifted their target price on shares of PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $123.18.

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.