AG2R LA Mondiale Gestion D Actifs Makes New $1.15 Million Investment in PPG Industries, Inc. $PPG

Key Points

• AG2R LA Mondiale Gestion D Actifs has made a new investment of approximately $1.15 million in PPG Industries, acquiring 10,397 shares of the specialty chemicals company.
• Several institutional investors have increased their stakes in PPG Industries, collectively owning 81.86% of the stock, indicating strong institutional interest in the company.
• PPG Industries has increased its quarterly dividend to $0.71 per share, reflecting a yield of 2.6% and demonstrating the company’s commitment to returning value to shareholders.

AG2R LA Mondiale Gestion D Actifs bought a new position in PPG Industries, Inc. (NYSE:PPG - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 10,397 shares of the specialty chemicals company's stock, valued at approximately $1,152,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Park Square Financial Group LLC purchased a new stake in PPG Industries in the 4th quarter worth approximately $26,000. Cheviot Value Management LLC purchased a new stake in PPG Industries in the 1st quarter worth approximately $26,000. Headlands Technologies LLC purchased a new stake in PPG Industries in the 1st quarter worth approximately $30,000. CVA Family Office LLC raised its position in shares of 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 buying an additional 113 shares in the last quarter. Finally, Financial Connections Group Inc. raised its position in shares of PPG Industries by 74.6% during the 1st quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company's stock valued at $38,000 after buying an additional 150 shares in the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Stock Down 0.4%

NYSE PPG traded down $0.42 during trading hours on Friday, reaching $108.61. 619,561 shares of the company's stock traded hands, compared to its average volume of 2,000,846. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $137.24. The firm has a market cap of $24.51 billion, a PE ratio of 24.63, a PEG ratio of 2.23 and a beta of 1.14. The firm has a 50-day simple moving average of $111.08 and a 200 day simple moving average of $110.05. 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 (NYSE:PPG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.22. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The company had revenue of $4.20 billion during the quarter, compared to analysts' expectations of $4.16 billion. During the same period last year, the company posted $2.50 EPS. PPG Industries's revenue was down .9% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Increases Dividend

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

Analysts Set New Price Targets

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