Divergent Planning LLC Invests $680,000 in PPG Industries, Inc. $PPG

Key Points

• Divergent Planning LLC acquired 5,980 shares of PPG Industries, Inc., valued at approximately $680,000, during the second quarter.
• Analysts have raised their price targets for PPG Industries, with Citigroup setting a new target of $130.00, indicating a strong outlook for the stock.
• PPG Industries increased its quarterly dividend from $0.68 to $0.71 per share, reflecting its ongoing commitment to returning value to shareholders.

Divergent Planning LLC bought a new position in PPG Industries, Inc. (NYSE:PPG - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,980 shares of the specialty chemicals company's stock, valued at approximately $680,000.

Several other hedge funds have also bought and sold shares of PPG. Czech National Bank raised its position in shares of PPG Industries by 4.1% during the 2nd quarter. Czech National Bank now owns 55,486 shares of the specialty chemicals company's stock valued at $6,312,000 after buying an additional 2,200 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in PPG Industries by 21.2% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 14,990 shares of the specialty chemicals company's stock valued at $1,705,000 after acquiring an additional 2,627 shares during the last quarter. Kera Capital Partners Inc. purchased a new stake in PPG Industries during the second quarter valued at approximately $219,000. AG2R LA Mondiale Gestion D Actifs purchased a new position in shares of PPG Industries in the first quarter worth $1,152,000. Finally, Swedbank AB raised its holdings in shares of PPG Industries by 2.3% in the first quarter. Swedbank AB now owns 158,022 shares of the specialty chemicals company's stock worth $17,280,000 after buying an additional 3,612 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

PPG Industries Stock Up 0.4%

Shares of PPG stock traded up $0.46 during trading on Friday, reaching $109.48. The company's stock had a trading volume of 3,617,791 shares, compared to its average volume of 1,480,766. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.04. The company has a market capitalization of $24.71 billion, a price-to-earnings ratio of 24.82, a P/E/G ratio of 2.26 and a beta of 1.14. The stock's 50-day moving average price is $110.92 and its 200 day moving average price is $110.02. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $137.24.

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 the consensus estimate of $2.22. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The company had revenue of $4.20 billion during the quarter, compared to analysts' expectations of $4.16 billion. During the same quarter in the previous year, the business posted $2.50 EPS. The firm's revenue was down .9% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, research 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 issued 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 was Monday, August 11th. This represents a $2.84 annualized dividend and a yield of 2.6%. PPG Industries's dividend payout ratio (DPR) is presently 64.40%.

Analyst Ratings Changes

PPG has been the subject of several recent research reports. Mizuho raised their target price 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. Wells Fargo & Company raised their target price 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. UBS Group raised their price target on shares of PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. Royal Bank Of Canada raised their price target on shares of PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. Finally, Citigroup raised their price target on shares of PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, June 13th. One equities 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. According to MarketBeat.com, the stock presently 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.