PPG Industries, Inc. $PPG Position Reduced by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. reduced its position in shares of PPG Industries, Inc. (NYSE:PPG) by 9.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,496 shares of the specialty chemicals company’s stock after selling 1,475 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in PPG Industries were worth $1,649,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PPG. Kingsview Wealth Management LLC lifted its holdings in shares of PPG Industries by 4.4% in the second quarter. Kingsview Wealth Management LLC now owns 8,571 shares of the specialty chemicals company’s stock valued at $975,000 after buying an additional 365 shares during the period. Citizens Financial Group Inc. RI raised its position in PPG Industries by 0.5% in the second quarter. Citizens Financial Group Inc. RI now owns 22,716 shares of the specialty chemicals company’s stock worth $2,584,000 after acquiring an additional 107 shares in the last quarter. MJP Associates Inc. ADV lifted its holdings in PPG Industries by 6.1% in the 2nd quarter. MJP Associates Inc. ADV now owns 6,069 shares of the specialty chemicals company’s stock valued at $690,000 after acquiring an additional 349 shares during the last quarter. Creative Planning lifted its holdings in PPG Industries by 25.6% in the 2nd quarter. Creative Planning now owns 76,347 shares of the specialty chemicals company’s stock valued at $8,684,000 after acquiring an additional 15,548 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of PPG Industries by 4.9% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 55,673 shares of the specialty chemicals company’s stock valued at $6,333,000 after purchasing an additional 2,618 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Price Performance

PPG opened at $97.18 on Tuesday. The stock has a fifty day moving average of $101.00 and a 200-day moving average of $108.11. The firm has a market capitalization of $21.81 billion, a P/E ratio of 22.04, a PEG ratio of 2.13 and a beta of 1.19. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $130.05. 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 quarterly earnings results 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 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%.PPG Industries’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $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 EPS 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. The ex-dividend date is Monday, November 10th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. PPG Industries’s dividend payout ratio is currently 64.40%.

Wall Street Analyst Weigh In

PPG has been the subject of several recent research reports. Citigroup cut their target price on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, October 6th. Bank of America dropped their price target on PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Royal Bank Of Canada raised their price objective on 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 target price on PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. Finally, Wells Fargo & Company reduced their target price on PPG Industries from $132.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. One equities research 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 MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $123.64.

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.