Dynamic Technology Lab Private Ltd Purchases New Stake in PPG Industries, Inc. $PPG

Key Points

• Dynamic Technology Lab Private Ltd has purchased 8,080 shares of PPG Industries, Inc. for around $884,000 during the first quarter.
• PPG Industries has declared a quarterly dividend of $0.71, up from its previous $0.68, providing an annualized yield of 2.5%.
• For the last quarter, PPG Industries reported $4.20 billion in revenue, meeting analyst expectations and showing only a slight decrease compared to the prior year.

Dynamic Technology Lab Private Ltd acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 8,080 shares of the specialty chemicals company's stock, valued at approximately $884,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Cookson Peirce & Co. Inc. lifted its stake in shares of PPG Industries by 1.9% during the 1st quarter. Cookson Peirce & Co. Inc. now owns 4,862 shares of the specialty chemicals company's stock worth $532,000 after purchasing an additional 89 shares during the last quarter. Summit Financial LLC lifted its stake in shares of PPG Industries by 1.3% during the 1st quarter. Summit Financial LLC now owns 7,246 shares of the specialty chemicals company's stock worth $792,000 after purchasing an additional 90 shares during the last quarter. LRI Investments LLC increased its position in PPG Industries by 25.3% during the 4th quarter. LRI Investments LLC now owns 456 shares of the specialty chemicals company's stock valued at $54,000 after buying an additional 92 shares in the last quarter. Conning Inc. increased its position in PPG Industries by 5.5% during the 1st quarter. Conning Inc. now owns 1,881 shares of the specialty chemicals company's stock valued at $206,000 after buying an additional 98 shares in the last quarter. Finally, Beacon Capital Management LLC increased its position in PPG Industries by 37.1% during the 1st quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company's stock valued at $41,000 after buying an additional 101 shares in the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Price Performance

Shares of NYSE PPG traded down $1.04 during midday trading on Friday, hitting $110.79. The stock had a trading volume of 1,552,318 shares, compared to its average volume of 1,437,477. The company has a market capitalization of $25.00 billion, a PE ratio of 25.12, a P/E/G ratio of 2.31 and a beta of 1.14. The stock has a 50 day simple moving average of $111.78 and a 200-day simple moving average of $110.17. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $137.24. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share 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 return on equity of 23.85% and a net margin of 6.25%.The business's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business 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 expect that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Monday, August 11th were issued a $0.71 dividend. This is a boost from PPG Industries's previous quarterly dividend of $0.68. This represents a $2.84 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, August 11th. PPG Industries's payout ratio is 64.40%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PPG shares. Royal Bank Of Canada upped their target price on PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. Citigroup increased their price objective on PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a report on Friday, June 13th. Mizuho increased their price objective on PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. UBS Group increased their price objective on PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Finally, Wells Fargo & Company raised their target price on PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $129.82.

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.