D.A. Davidson & CO. Sells 9,036 Shares of PPG Industries, Inc. $PPG

Key Points

• D.A. Davidson & CO. reduced its stake in PPG Industries by 14.2%, selling 9,036 shares, leaving them with 54,605 shares valued at approximately $6.21 million.
• PPG Industries declared a quarterly dividend of $0.71 per share, with an ex-dividend date of November 10th and a current annual yield of 2.7%.
• Analysts have adjusted their price targets for PPG Industries, with Wells Fargo lowering its target from $135.00 to $132.00, while JPMorgan upgraded its rating to "overweight" with a target of $112.00.

D.A. Davidson & CO. lessened its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 14.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,605 shares of the specialty chemicals company's stock after selling 9,036 shares during the period. D.A. Davidson & CO.'s holdings in PPG Industries were worth $6,211,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PPG. Price T Rowe Associates Inc. MD increased its holdings in PPG Industries by 58.3% during 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 in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in PPG Industries during the 1st quarter worth about $127,152,000. Pzena Investment Management LLC bought a new position in shares of PPG Industries in the 1st quarter valued at about $105,349,000. Nuveen LLC bought a new position in shares of PPG Industries in the 1st quarter valued at about $79,881,000. Finally, Wellington Management Group LLP grew its holdings in shares of PPG Industries by 5.6% in the 1st quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company's stock valued at $1,220,259,000 after acquiring an additional 592,152 shares in the last quarter. Institutional investors own 81.86% of the company's stock.

PPG Industries Trading Up 1.3%

PPG Industries stock opened at $103.50 on Friday. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $130.05. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42. The stock has a market capitalization of $23.36 billion, a P/E ratio of 23.47, a PEG ratio of 2.15 and a beta of 1.16. The stock has a 50-day simple moving average of $106.94 and a 200 day simple moving average of $108.78.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, hitting analysts' consensus estimates of $2.22. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The business had revenue of $4.20 billion during the quarter, compared to analysts' expectations of $4.16 billion. During the same quarter last year, the company 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. Analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Monday, November 10th will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, November 10th. This represents a $2.84 dividend on an annualized basis and a yield of 2.7%. PPG Industries's dividend payout ratio (DPR) is presently 64.40%.

Wall Street Analyst Weigh In

PPG has been the subject of several analyst reports. Wells Fargo & Company decreased their price objective on PPG Industries from $135.00 to $132.00 and set an "overweight" rating for the company in a report on Friday, October 10th. UBS Group decreased their price objective on PPG Industries from $125.00 to $115.00 and set a "neutral" rating for the company in a report on Monday, October 6th. Citigroup decreased their price objective on PPG Industries from $124.00 to $120.00 and set a "buy" rating for the company in a report on Monday, October 6th. JPMorgan Chase & Co. upgraded PPG Industries from a "neutral" rating to an "overweight" rating and set a $112.00 price objective for the company in a report on Thursday, October 16th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of PPG Industries in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $125.00.

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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