Aberdeen Group plc Sells 28,714 Shares of PPG Industries, Inc. $PPG

Key Points

• Aberdeen Group plc reduced its holdings in PPG Industries by 11.2%, owning approximately 228,774 shares worth $24.49 million as of the latest SEC filing.
• PPG Industries announced an increase in its quarterly dividend from $0.68 to $0.71 per share, giving an annual yield of 2.5% for shareholders of record.
• Analysts have adjusted their price targets for PPG Industries, with estimates ranging from $117.00 to $135.00, reflecting a general optimism about the company's performance.

Aberdeen Group plc lessened its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 11.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 228,774 shares of the specialty chemicals company's stock after selling 28,714 shares during the quarter. Aberdeen Group plc owned 0.10% of PPG Industries worth $24,491,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Park Square Financial Group LLC bought a new position in shares of PPG Industries during the fourth quarter valued at $26,000. Cheviot Value Management LLC acquired a new stake in shares of PPG Industries during the 1st quarter worth about $26,000. CVA Family Office LLC lifted its holdings in PPG Industries by 70.6% during the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock valued at $30,000 after purchasing an additional 113 shares during the last quarter. Headlands Technologies LLC acquired a new position in PPG Industries in the first quarter valued at about $30,000. Finally, Financial Connections Group Inc. grew its stake in PPG Industries by 74.6% during the first quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company's stock worth $38,000 after buying an additional 150 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Trading Up 2.4%

Shares of PPG stock traded up $2.6620 on Friday, reaching $114.2320. 1,075,204 shares of the stock were exchanged, compared to its average volume of 2,056,551. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.04. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $137.24. The stock has a market cap of $25.78 billion, a PE ratio of 25.90, a P/E/G ratio of 2.32 and a beta of 1.17. The stock has a 50 day moving average price of $112.31 and a 200 day moving average price of $110.68.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, hitting the consensus estimate of $2.22. The firm had revenue of $4.20 billion during the quarter, compared to analysts' expectations of $4.16 billion. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The company's quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the business posted $2.50 EPS. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Equities research analysts forecast 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 will be paid on Friday, September 12th. Stockholders of record on Monday, August 11th will be paid a $0.71 dividend. This is an increase from PPG Industries's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Monday, August 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.5%. PPG Industries's dividend payout ratio (DPR) is currently 64.40%.

Wall Street Analysts Forecast Growth

PPG has been the subject of a number of research analyst reports. UBS Group lifted their target price on shares of PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. JPMorgan Chase & Co. cut their price objective on PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Fermium Researc raised PPG Industries to a "strong-buy" rating in a research note on Thursday, May 1st. Deutsche Bank Aktiengesellschaft raised their target price on PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Finally, Wells Fargo & Company lifted their price target on PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $129.82.

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.