Brandywine Global Investment Management LLC Increases Stock Position in PPG Industries, Inc. $PPG

Key Points

• Brandywine Global Investment Management LLC expanded its position in PPG Industries by 79.7%, holding about $12.28 million worth with 112,259 shares after acquiring an additional 49,791 shares in Q1.
• PPG Industries reported earnings of $2.22 per share for the last quarter, meeting analysts' expectations, with revenues of $4.20 billion, slightly exceeding forecasts.
• The company has announced an increase in its quarterly dividend from $0.68 to $0.71 per share, with a dividend yield of 2.5%.

Brandywine Global Investment Management LLC raised its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 79.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 112,259 shares of the specialty chemicals company's stock after purchasing an additional 49,791 shares during the period. Brandywine Global Investment Management LLC's holdings in PPG Industries were worth $12,276,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PPG. Park Square Financial Group LLC bought a new stake in shares of PPG Industries during the fourth quarter worth about $26,000. Cheviot Value Management LLC acquired a new position in PPG Industries during the 1st quarter valued at about $26,000. Headlands Technologies LLC acquired a new position in PPG Industries during the 1st quarter valued at about $30,000. CVA Family Office LLC boosted its stake in 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 purchasing an additional 113 shares during the last quarter. Finally, Financial Connections Group Inc. boosted its stake in 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 purchasing an additional 150 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PPG shares. Wells Fargo & Company lifted their price target on PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. UBS Group lifted their price target on PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Royal Bank Of Canada lifted their price target on PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a research note on Friday, August 1st. Fermium Researc raised shares of PPG Industries to a "strong-buy" rating in a research report on Thursday, May 1st. Finally, Citigroup upped their price objective on shares of PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. One equities research 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. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $129.82.

PPG Industries Stock Performance

Shares of PPG Industries stock traded down $0.8790 on Wednesday, reaching $111.9810. 1,091,508 shares of the company traded hands, compared to its average volume of 2,068,340. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24. The company has a 50 day moving average of $112.34 and a 200 day moving average of $110.68. The firm has a market capitalization of $25.27 billion, a PE ratio of 25.39, a PEG ratio of 2.29 and a beta of 1.17. 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 released its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share 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 the consensus estimate of $4.16 billion. During the same period in the prior year, the firm earned $2.50 EPS. The company's revenue was down .9% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Equities analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, August 11th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, August 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's payout ratio is currently 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.