Capital Fund Management S.A. Raises Position in PPG Industries, Inc. $PPG

Key Points

• Capital Fund Management S.A. increased its stake in PPG Industries by 40.7%, owning 142,744 shares valued at approximately $15.6 million.
• Research analysts have raised their price targets for PPG Industries, with a consensus rating of Moderate Buy and an average target price of $129.82.
• PPG Industries announced a quarterly dividend of $0.71, up from $0.68, reflecting a 2.5% yield with a dividend payout ratio of 64.40%.

Capital Fund Management S.A. increased its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 40.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,744 shares of the specialty chemicals company's stock after buying an additional 41,314 shares during the period. Capital Fund Management S.A. owned 0.06% of PPG Industries worth $15,609,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PPG. Kovitz Investment Group Partners LLC lifted its position in shares of PPG Industries by 482.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company's stock worth $518,132,000 after buying an additional 3,592,655 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of PPG Industries by 815.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,031,164 shares of the specialty chemicals company's stock worth $362,074,000 after buying an additional 2,700,018 shares in the last quarter. Pzena Investment Management LLC purchased a new stake in PPG Industries during the first quarter valued at approximately $105,349,000. Nuveen LLC purchased a new stake in PPG Industries during the first quarter valued at approximately $79,881,000. Finally, GAMMA Investing LLC raised its position in PPG Industries by 11,737.2% during the first quarter. GAMMA Investing LLC now owns 724,553 shares of the specialty chemicals company's stock valued at $79,230,000 after purchasing an additional 718,432 shares during the period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Trading Down 1.9%

Shares of PPG traded down $2.1460 during mid-day trading on Monday, reaching $112.1240. 616,896 shares of the company's stock traded hands, compared to its average volume of 2,050,768. The stock has a market cap of $25.31 billion, a P/E ratio of 25.41, a P/E/G ratio of 2.36 and a beta of 1.17. The stock's 50-day moving average is $112.46 and its two-hundred day moving average is $110.65. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24. 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 announced its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.22. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The company had revenue of $4.20 billion for the quarter, compared to analysts' expectations of $4.16 billion. During the same quarter in the prior year, the firm earned $2.50 earnings per share. PPG Industries'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. Research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, August 11th will be given a dividend of $0.71 per share. This is a boost from PPG Industries's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Monday, August 11th. This represents a $2.84 annualized dividend and a yield of 2.5%. PPG Industries's payout ratio is 64.40%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price objective on PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Wells Fargo & Company upped their price objective on 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 objective on PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. Mizuho upped their price objective on 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 objective on PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. One equities research 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 company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $129.82.

PPG Industries 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.