Baader Bank Aktiengesellschaft Buys Shares of 3,565 PPG Industries, Inc. $PPG

Key Points

• Baader Bank Aktiengesellschaft acquired a new stake in PPG Industries, purchasing 3,565 shares worth approximately $406,000 in the second quarter.
• PPG Industries announced a quarterly dividend increase to $0.71 per share, representing an annualized dividend of $2.84 and a yield of 2.6%.
• Analysts have raised price targets for PPG Industries, with Citigroup setting a new target at $130.00 and maintaining a "buy" rating.

Baader Bank Aktiengesellschaft bought a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,565 shares of the specialty chemicals company's stock, valued at approximately $406,000.

A number of other large investors have also added to or reduced their stakes in PPG. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of PPG Industries by 1.4% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 27,428 shares of the specialty chemicals company's stock worth $3,120,000 after purchasing an additional 382 shares in the last quarter. Pallas Capital Advisors LLC bought a new stake in PPG Industries during the second quarter valued at approximately $432,000. Aaron Wealth Advisors LLC bought a new stake in PPG Industries during the second quarter valued at approximately $229,000. Divergent Planning LLC purchased a new position in shares of PPG Industries during the second quarter worth approximately $680,000. Finally, Czech National Bank raised its stake in shares of PPG Industries by 4.1% during the second quarter. Czech National Bank now owns 55,486 shares of the specialty chemicals company's stock worth $6,312,000 after acquiring an additional 2,200 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

Wall Street Analyst Weigh In

PPG has been the topic of several analyst reports. Citigroup lifted their target price on shares of PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Mizuho boosted 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 boosted 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. Wells Fargo & Company boosted their target price on shares of PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Finally, Royal Bank Of Canada upped their target price on shares of PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. One 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's stock. According to data from MarketBeat.com, PPG Industries currently has an average rating of "Moderate Buy" and a consensus target price of $129.82.

PPG Industries Price Performance

Shares of PPG Industries stock traded up $0.46 on Friday, hitting $109.48. 3,617,791 shares of the company traded hands, compared to its average volume of 1,480,766. The business has a 50-day simple moving average of $110.92 and a 200 day simple moving average of $110.02. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24. The stock has a market capitalization of $24.71 billion, a P/E ratio of 24.82, a price-to-earnings-growth ratio of 2.26 and a beta of 1.14. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42.

PPG Industries (NYSE:PPG - Get Free Report) last issued its 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 firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same period in the previous year, the firm earned $2.50 earnings per share. The business'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. Research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, August 11th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, August 11th. This is a positive change from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's dividend payout ratio is 64.40%.

PPG Industries Company 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.