PPG Industries, Inc. $PPG Shares Sold by Cambiar Investors LLC

Key Points

• Cambiar Investors LLC reduced its stake in PPG Industries by 3.5%, holding approximately $42.68 million in shares.
• Recent analyst upgrades have increased price targets for PPG Industries, with estimates now ranging from $125.00 to $140.00, reflecting a general positive outlook.
• PPG Industries declared a quarterly dividend of $0.71 per share, marking an increase from the previous dividend of $0.68, with a yield of 2.5%.

Cambiar Investors LLC reduced its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 3.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 390,257 shares of the specialty chemicals company's stock after selling 14,351 shares during the quarter. PPG Industries accounts for 1.8% of Cambiar Investors LLC's holdings, making the stock its 22nd largest position. Cambiar Investors LLC owned approximately 0.17% of PPG Industries worth $42,675,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. grew its stake in shares of PPG Industries by 3.6% during the 1st quarter. Raymond James Financial Inc. now owns 711,658 shares of the specialty chemicals company's stock worth $77,820,000 after purchasing an additional 24,588 shares during the period. Gen Wealth Partners Inc boosted its holdings in PPG Industries by 5.7% during the first quarter. Gen Wealth Partners Inc now owns 4,595 shares of the specialty chemicals company's stock worth $502,000 after buying an additional 248 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in PPG Industries by 1.6% during the first quarter. State of New Jersey Common Pension Fund D now owns 73,589 shares of the specialty chemicals company's stock valued at $8,047,000 after buying an additional 1,152 shares during the period. American Century Companies Inc. increased its holdings in PPG Industries by 72.3% in the first quarter. American Century Companies Inc. now owns 1,041,700 shares of the specialty chemicals company's stock valued at $113,910,000 after buying an additional 436,942 shares in the last quarter. Finally, Brandywine Global Investment Management LLC raised its position in shares of PPG Industries by 79.7% in the first quarter. Brandywine Global Investment Management LLC now owns 112,259 shares of the specialty chemicals company's stock worth $12,276,000 after acquiring an additional 49,791 shares during the period. Hedge funds and other institutional investors own 81.86% of the company's stock.

Analysts Set New Price Targets

PPG has been the subject of several recent analyst reports. Mizuho lifted their price target on PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft raised their price objective on PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a report on Monday, May 12th. Citigroup upped their target price on PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Wells Fargo & Company lifted their price target on shares of PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Finally, Royal Bank Of Canada boosted their price target on shares of PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $129.82.

PPG Industries Price Performance

Shares of PPG Industries stock traded down $0.8790 during trading hours on Wednesday, reaching $111.9810. 1,091,508 shares of the company's stock were exchanged, compared to its average volume of 2,068,340. The business has a fifty day moving average of $112.34 and a two-hundred day moving average of $110.68. The company has a market capitalization of $25.27 billion, a P/E ratio of 25.39, a price-to-earnings-growth ratio of 2.29 and a beta of 1.17. 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 1 year low of $90.24 and a 1 year high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, hitting 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 for the quarter, compared to analyst estimates of $4.16 billion. During the same period in the previous year, the business posted $2.50 earnings per share. PPG Industries's quarterly revenue was down .9% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. As a group, research analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

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