Ceredex Value Advisors LLC Has $63.57 Million Stock Position in PPG Industries, Inc. $PPG

Key Points

• Ceredex Value Advisors LLC increased its stake in PPG Industries by 87.3%, owning approximately $63.57 million worth of shares, making it the firm's 14th largest holding.
• Several hedge funds have recently amplified their positions in PPG Industries, with notable increases including Price T Rowe Associates Inc. raising its stake by 58.3%.
• PPG Industries plans to pay a quarterly dividend of $0.71 on September 12th, up from the previous $0.68, resulting in an annualized dividend yield of 2.5%.

Ceredex Value Advisors LLC grew its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 87.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 581,345 shares of the specialty chemicals company's stock after buying an additional 271,045 shares during the period. PPG Industries accounts for approximately 1.4% of Ceredex Value Advisors LLC's investment portfolio, making the stock its 14th largest holding. Ceredex Value Advisors LLC owned approximately 0.26% of PPG Industries worth $63,570,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PPG. Price T Rowe Associates Inc. MD increased 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 valued at $524,627,000 after buying an additional 1,766,518 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new position in shares of PPG Industries in the 1st quarter worth $127,152,000. Pzena Investment Management LLC bought a new position in shares of PPG Industries in the 1st quarter worth $105,349,000. Nuveen LLC bought a new position in shares of PPG Industries in the 1st quarter worth $79,881,000. Finally, GAMMA Investing LLC boosted its position in shares of PPG Industries by 11,737.2% in the 1st quarter. GAMMA Investing LLC now owns 724,553 shares of the specialty chemicals company's stock worth $79,230,000 after purchasing an additional 718,432 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Mizuho raised their price target on PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft raised their price target on PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Royal Bank Of Canada raised their price target on PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. Citigroup lifted their target price on 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 lifted their target price on PPG Industries from $111.00 to $125.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. One 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. Based on data from MarketBeat, PPG Industries presently has a consensus rating of "Moderate Buy" and an average target price of $129.82.

PPG Industries Stock Performance

PPG stock opened at $112.1790 on Tuesday. The firm has a market cap of $25.32 billion, a PE ratio of 25.44, a P/E/G ratio of 2.36 and a beta of 1.17. The business's 50-day moving average price is $112.53 and its two-hundred day moving average price is $110.63. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $137.24. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, meeting analysts' consensus estimates of $2.22. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.16 billion. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The company's quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.50 earnings per share. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. As a group, research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Increases Dividend

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

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