Amundi Acquires 124,698 Shares of PPG Industries, Inc. $PPG

Key Points

• Amundi increased its holdings in PPG Industries by 12.8%, acquiring an additional 124,698 shares to reach a total of 1,099,024 shares, valued at approximately $114.3 million as of its latest SEC filing.
• PPG Industries reported $2.22 earnings per share, matching analysts’ expectations, while revenue for the quarter was $4.20 billion, slightly exceeding estimates of $4.16 billion.
• The company announced a quarterly dividend of $0.71 per share, reflecting an annualized dividend yield of 2.6%, up from the previous quarter's $0.68.

Amundi lifted its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 12.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,099,024 shares of the specialty chemicals company's stock after buying an additional 124,698 shares during the period. Amundi owned about 0.48% of PPG Industries worth $114,288,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PPG. Wells Fargo & Company upped their price target 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. 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 research report on Friday, August 1st. Citigroup upped their price target 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. Mizuho upped their price target 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. Finally, UBS Group upped their price target 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. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $129.82.

PPG Industries Stock Up 2.3%

Shares of PPG stock traded up $2.52 on Thursday, reaching $111.30. 321,278 shares of the company were exchanged, compared to its average volume of 2,018,207. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $137.24. The company has a market cap of $25.12 billion, a price-to-earnings ratio of 25.23, a PEG ratio of 2.26 and a beta of 1.14. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.04. The company has a 50-day moving average of $112.06 and a 200-day moving average of $110.21.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly 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. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The business had revenue of $4.20 billion for the quarter, compared to analysts' expectations of $4.16 billion. During the same quarter last year, the firm earned $2.50 EPS. The firm's revenue for the quarter was down .9% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Increases Dividend

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

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.