Adams Natural Resources Fund Inc. Has $2.06 Million Stock Holdings in PPG Industries, Inc. $PPG

Key Points

• Adams Natural Resources Fund Inc. reduced its holdings in PPG Industries by 53.4% during Q2, now owning 18,100 shares valued at $2.06 million.
• PPG Industries reported $2.22 earnings per share for the last quarter, matching analyst expectations, with revenue slightly down by 0.9% year-over-year.
• The company declared a quarterly dividend of $0.71, with a dividend yield of 2.7%, to be paid to shareholders on December 12th.

Adams Natural Resources Fund Inc. lessened its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 53.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,100 shares of the specialty chemicals company's stock after selling 20,700 shares during the quarter. Adams Natural Resources Fund Inc.'s holdings in PPG Industries were worth $2,059,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its holdings in shares of PPG Industries by 0.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 249,755 shares of the specialty chemicals company's stock valued at $27,311,000 after purchasing an additional 1,697 shares in the last quarter. Clear Creek Financial Management LLC acquired a new stake in shares of PPG Industries in the 1st quarter valued at $240,000. Principal Financial Group Inc. boosted its holdings in shares of PPG Industries by 4.4% during the 1st quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company's stock valued at $33,129,000 after acquiring an additional 12,650 shares in the last quarter. Meridian Wealth Management LLC boosted its holdings in shares of PPG Industries by 311.2% during the 1st quarter. Meridian Wealth Management LLC now owns 7,665 shares of the specialty chemicals company's stock valued at $838,000 after acquiring an additional 5,801 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in shares of PPG Industries by 966.3% during the 1st quarter. Golden State Wealth Management LLC now owns 885 shares of the specialty chemicals company's stock valued at $97,000 after acquiring an additional 802 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Stock Up 2.3%

Shares of PPG opened at $104.49 on Wednesday. The company has a market capitalization of $23.58 billion, a PE ratio of 23.69, a PEG ratio of 2.15 and a beta of 1.16. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $130.05. The stock's 50-day moving average price is $107.32 and its two-hundred day moving average price is $108.78. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76.

PPG Industries (NYSE:PPG - Get Free Report) last posted 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. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same period last year, the company posted $2.50 EPS. The business's quarterly revenue was down .9% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, November 10th will be given a $0.71 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.84 annualized dividend and a dividend yield of 2.7%. PPG Industries's dividend payout ratio (DPR) is 64.40%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PPG shares. JPMorgan Chase & Co. raised PPG Industries from a "neutral" rating to an "overweight" rating and set a $112.00 price objective on the stock in a report on Thursday, October 16th. Wells Fargo & Company cut their price objective on PPG Industries from $135.00 to $132.00 and set an "overweight" rating on the stock in a report on Friday, October 10th. Bank of America cut their price objective on PPG Industries from $131.00 to $129.00 and set a "neutral" rating on the stock in a report on Tuesday, October 14th. Citigroup cut their price objective on PPG Industries from $124.00 to $120.00 and set a "buy" rating on the stock in a report on Monday, October 6th. Finally, UBS Group cut their price objective on PPG Industries from $125.00 to $115.00 and set a "neutral" rating on the stock in a report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $125.00.

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.

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