Central Bank & Trust Co. Decreases Stake in PPG Industries, Inc. $PPG

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. lowered its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 38.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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.

A number of other institutional investors also recently added to or reduced their stakes in the company. Cookson Peirce & Co. Inc. lifted its stake in PPG Industries by 1.9% in the first quarter. Cookson Peirce & Co. Inc. now owns 4,862 shares of the specialty chemicals company's stock worth $532,000 after acquiring an additional 89 shares during the last quarter. Summit Financial LLC lifted its stake in PPG Industries by 1.3% in the first quarter. Summit Financial LLC now owns 7,246 shares of the specialty chemicals company's stock worth $792,000 after acquiring an additional 90 shares during the last quarter. Conning Inc. lifted its stake in PPG Industries by 5.5% in the first quarter. Conning Inc. now owns 1,881 shares of the specialty chemicals company's stock worth $206,000 after acquiring an additional 98 shares during the last quarter. Beacon Capital Management LLC raised its holdings in PPG Industries by 37.1% during the first quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company's stock worth $41,000 after purchasing an additional 101 shares in the last quarter. Finally, Bell Investment Advisors Inc raised its holdings in PPG Industries by 40.9% during the first quarter. Bell Investment Advisors Inc now owns 355 shares of the specialty chemicals company's stock worth $39,000 after purchasing an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PPG shares. Royal Bank Of Canada raised their price objective 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. Wells Fargo & Company raised their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Mizuho raised their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Citigroup raised their price objective on shares of PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Finally, UBS Group raised their price objective on shares of PPG Industries from $111.00 to $125.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $129.82.

PPG Industries Price Performance

PPG Industries stock opened at $109.47 on Tuesday. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76. The firm's 50-day simple moving average is $111.66 and its 200 day simple moving average is $110.09. The firm has a market capitalization of $24.71 billion, a PE ratio of 24.82, a P/E/G ratio of 2.29 and a beta of 1.14.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, hitting the consensus estimate of $2.22. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The business 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 firm earned $2.50 EPS. The business'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. On average, equities research analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Increases Dividend

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

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.

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