Pzena Investment Management LLC Acquires 50,592 Shares of PPG Industries, Inc. $PPG

Pzena Investment Management LLC increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 5.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,014,004 shares of the specialty chemicals company’s stock after purchasing an additional 50,592 shares during the period. Pzena Investment Management LLC’s holdings in PPG Industries were worth $115,343,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PPG. Price T Rowe Associates Inc. MD boosted its position in shares of PPG Industries by 58.3% during the 1st 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 acquiring an additional 1,766,518 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of PPG Industries during the 1st quarter worth approximately $127,152,000. Nuveen LLC acquired a new stake in shares of PPG Industries during the 1st quarter worth approximately $79,881,000. Wellington Management Group LLP boosted its position in shares of 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 worth $1,220,259,000 after acquiring an additional 592,152 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of PPG Industries by 619.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 613,412 shares of the specialty chemicals company’s stock worth $69,776,000 after acquiring an additional 528,113 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on PPG shares. UBS Group reduced their price target on shares of PPG Industries from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Monday, October 6th. Wells Fargo & Company reduced their price target on shares of PPG Industries from $135.00 to $132.00 and set an “overweight” rating on the stock in a research report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of PPG Industries in a research report on Wednesday, October 8th. Mizuho cut their target price on shares of 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, Citigroup cut their target price on shares of 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 investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and a consensus target price of $126.82.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $98.45 on Monday. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $132.18. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.04. The firm has a market capitalization of $22.22 billion, a P/E ratio of 22.32, a P/E/G ratio of 2.04 and a beta of 1.16. The company’s 50 day moving average price is $108.07 and its two-hundred day moving average price is $109.06.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, hitting analysts’ consensus estimates of $2.22. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.16 billion. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. PPG Industries’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.50 earnings per share. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, equities analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, August 11th were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from PPG Industries’s previous quarterly dividend of $0.68. The ex-dividend date was Monday, August 11th. PPG Industries’s dividend payout ratio (DPR) 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.