PPG Industries, Inc. $PPG Shares Sold by Central Bank & Trust Co.

Key Points

• Central Bank & Trust Co. has decreased its stake in PPG Industries by 38.5%, owning 5,979 shares worth approximately $680,000 after selling 3,740 shares in the second quarter.
• PPG Industries reported an EPS of $2.22 for its most recent quarter, in line with analysts' expectations, but revenue declined by 0.9% year-over-year.
• The company recently increased its quarterly dividend from $0.68 to $0.71, representing an annual yield of 2.6% with a payout ratio of 64.40%.

Central Bank & Trust Co. cut its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 38.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,979 shares of the specialty chemicals company's stock after selling 3,740 shares during the quarter. Central Bank & Trust Co.'s holdings in PPG Industries were worth $680,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake 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 during the period. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of PPG Industries during the 1st quarter worth approximately $127,152,000. Pzena Investment Management LLC purchased a new position in shares of PPG Industries during the 1st quarter worth $105,349,000. Nuveen LLC acquired a new stake in PPG Industries in the 1st quarter valued at about $79,881,000. Finally, GAMMA Investing LLC grew its stake in PPG Industries by 11,737.2% during the 1st quarter. GAMMA Investing LLC now owns 724,553 shares of the specialty chemicals company's stock worth $79,230,000 after buying an additional 718,432 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Trading Up 0.4%

Shares of PPG stock traded up $0.46 during trading hours on Friday, hitting $109.48. 3,617,791 shares of the company's stock traded hands, compared to its average volume of 1,480,766. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24. The stock's 50 day simple moving average is $110.92 and its 200 day simple moving average is $110.05. The stock has a market cap of $24.71 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 2.25 and a beta of 1.14. 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 (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, meeting the consensus estimate of $2.22. The firm had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.16 billion. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The business's revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.50 earnings per share. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company boosted their price target on PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Royal Bank Of Canada boosted their price target on PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. UBS Group upped their target price on PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Mizuho upped their target price on PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Finally, Citigroup upped their target price on PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, June 13th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $129.82.

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.