Berkeley Capital Partners LLC Invests $1.19 Million in PPG Industries, Inc. $PPG

Key Points

• Berkeley Capital Partners LLC invested approximately $1.19 million in PPG Industries, acquiring 10,429 shares in the second quarter.
• PPG Industries reported earnings of $2.22 per share in its latest quarterly results, meeting expectations despite a revenue decline of 0.9% year-over-year.
• The company announced a quarterly dividend of $0.71, scheduled for payment on December 12th, with a dividend yield of 2.8%.

Berkeley Capital Partners LLC acquired a new position in PPG Industries, Inc. (NYSE:PPG - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,429 shares of the specialty chemicals company's stock, valued at approximately $1,186,000.

A number of other institutional investors have also recently made changes to their positions in the business. Wellington Management Group LLP boosted its position in shares of PPG Industries by 5.6% in the 1st quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company's stock worth $1,220,259,000 after purchasing an additional 592,152 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of PPG Industries by 58.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company's stock worth $524,627,000 after purchasing an additional 1,766,518 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of PPG Industries by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,937,274 shares of the specialty chemicals company's stock worth $321,147,000 after purchasing an additional 105,973 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of PPG Industries by 3.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,734,270 shares of the specialty chemicals company's stock worth $298,992,000 after purchasing an additional 85,891 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in PPG Industries by 2.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,174,762 shares of the specialty chemicals company's stock worth $237,810,000 after acquiring an additional 60,301 shares during the period. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Price Performance

Shares of PPG Industries stock opened at $102.16 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $131.24. The business has a 50-day moving average price of $107.41 and a 200 day moving average price of $108.81. The firm has a market cap of $23.06 billion, a PE ratio of 23.17, a P/E/G ratio of 2.14 and a beta of 1.16.

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 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 quarter in the previous year, the business earned $2.50 EPS. PPG Industries'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. Sell-side analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Monday, November 10th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, November 10th. PPG Industries's payout ratio is currently 64.40%.

Wall Street Analyst Weigh In

PPG has been the subject of a number of research reports. Mizuho lowered their price target on PPG Industries from $135.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, October 3rd. Bank of America lowered their price target on PPG Industries from $131.00 to $129.00 and set a "neutral" rating for the company in a research report on Tuesday, October 14th. JPMorgan Chase & Co. raised PPG Industries from a "neutral" rating to an "overweight" rating and set a $112.00 price target for the company in a research report on Thursday, October 16th. Royal Bank Of Canada lifted their price target on PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company reduced their price objective on PPG Industries from $135.00 to $132.00 and set an "overweight" rating for the company in a research note on Friday, October 10th. 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, the company currently has a consensus rating of "Moderate Buy" and a consensus 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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