PPG Industries, Inc. $PPG Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC reduced its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 4.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 83,030 shares of the specialty chemicals company’s stock after selling 3,591 shares during the quarter. Yousif Capital Management LLC’s holdings in PPG Industries were worth $9,445,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pzena Investment Management LLC grew its position in PPG Industries by 5.3% during the second quarter. Pzena Investment Management LLC now owns 1,014,004 shares of the specialty chemicals company’s stock worth $115,343,000 after buying an additional 50,592 shares during the period. Bill Few Associates Inc. grew its position in PPG Industries by 2.3% during the second quarter. Bill Few Associates Inc. now owns 8,848 shares of the specialty chemicals company’s stock worth $1,006,000 after buying an additional 198 shares during the period. MOKAN Wealth Management Inc. acquired a new position in PPG Industries during the second quarter worth about $1,366,000. CWM LLC grew its position in PPG Industries by 25.7% during the second quarter. CWM LLC now owns 15,469 shares of the specialty chemicals company’s stock worth $1,760,000 after buying an additional 3,165 shares during the period. Finally, OFI Invest Asset Management grew its position in PPG Industries by 56.0% during the second quarter. OFI Invest Asset Management now owns 944 shares of the specialty chemicals company’s stock worth $107,000 after buying an additional 339 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Performance

Shares of PPG opened at $98.83 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42. The company has a market capitalization of $22.31 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 2.04 and a beta of 1.16. The company’s 50 day simple moving average is $107.95 and its 200 day simple moving average is $109.00. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $132.18.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.22. The business had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.16 billion. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.50 earnings per share. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, sell-side analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Monday, August 11th were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, August 11th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.68. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. PPG Industries’s payout ratio is currently 64.40%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of PPG Industries in a research report on Wednesday, October 8th. Citigroup reduced their price target on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, October 6th. Royal Bank Of Canada upped their price target 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. 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 report on Monday, October 6th. Finally, Mizuho reduced their price target on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $126.82.

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.