Divergent Planning LLC Makes New $680,000 Investment 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 acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 5,980 shares of the specialty chemicals company's stock, valued at approximately $680,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new position in PPG Industries in the fourth quarter valued at about $26,000. Cheviot Value Management LLC purchased a new position in shares of PPG Industries in the 1st quarter worth approximately $26,000. CVA Family Office LLC grew its position in shares of PPG Industries by 70.6% in the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock worth $30,000 after buying an additional 113 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of PPG Industries in the 1st quarter worth approximately $30,000. Finally, Financial Connections Group Inc. grew its position in shares of PPG Industries by 74.6% in the 1st quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company's stock worth $38,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

PPG Industries Stock Performance

PPG traded up $0.46 on Friday, reaching $109.48. The stock had a trading volume of 3,617,791 shares, compared to its average volume of 2,018,124. The business's 50-day moving average price is $111.08 and its two-hundred day moving average price is $110.05. 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, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. The company has a market cap of $24.71 billion, a P/E ratio of 24.82, a price-to-earnings-growth ratio of 2.23 and a beta of 1.14.

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

PPG Industries Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Mizuho raised their price objective on PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Citigroup increased their price target on PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Wells Fargo & Company upped their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Royal Bank Of Canada raised their target price on PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a research note on Friday, August 1st. Finally, UBS Group increased their price objective on PPG Industries from $111.00 to $125.00 and gave the company 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. According to MarketBeat.com, PPG Industries 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.