Earnest Partners LLC Boosts Stake in PPG Industries, Inc. $PPG

Key Points

• Earnest Partners LLC increased its holdings in PPG Industries by 31.0% in the first quarter, owning a total of 12,672 shares valued at approximately $1.39 million.
• PPG Industries announced a quarterly dividend of $0.71, reflecting an increase from the previous $0.68, with a dividend yield of 2.6%.
• Analysts have issued mixed ratings for PPG Industries, with one strong buy, six buy ratings, and eight hold ratings, resulting in an average target price of $129.82.

Earnest Partners LLC increased its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 31.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,672 shares of the specialty chemicals company's stock after purchasing an additional 2,999 shares during the quarter. Earnest Partners LLC's holdings in PPG Industries were worth $1,386,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PPG. Envestnet Asset Management Inc. grew its position in shares of PPG Industries by 0.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 249,755 shares of the specialty chemicals company's stock valued at $27,311,000 after acquiring an additional 1,697 shares during the period. Clear Creek Financial Management LLC bought a new position in shares of PPG Industries during the 1st quarter valued at approximately $240,000. Principal Financial Group Inc. grew its position in shares of PPG Industries by 4.4% during the 1st quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company's stock valued at $33,129,000 after acquiring an additional 12,650 shares during the period. Meridian Wealth Management LLC grew its position in shares of PPG Industries by 311.2% during the 1st quarter. Meridian Wealth Management LLC now owns 7,665 shares of the specialty chemicals company's stock valued at $838,000 after acquiring an additional 5,801 shares during the period. Finally, Golden State Wealth Management LLC grew its position in shares of PPG Industries by 966.3% during the 1st quarter. Golden State Wealth Management LLC now owns 885 shares of the specialty chemicals company's stock valued at $97,000 after acquiring an additional 802 shares during the period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Price Performance

NYSE PPG traded down $0.07 on Friday, hitting $111.15. The stock had a trading volume of 906,817 shares, compared to its average volume of 1,492,260. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $137.24. 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 company has a market capitalization of $25.09 billion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 2.30 and a beta of 1.14. The firm has a 50-day moving average of $112.82 and a 200-day moving average of $110.53.

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

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, August 11th will be given a dividend of $0.71 per share. This is an increase from PPG Industries's previous quarterly dividend of $0.68. The ex-dividend date is Monday, August 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.6%. PPG Industries's dividend payout ratio is 64.40%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PPG shares. UBS Group increased their target price 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. 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. 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. 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. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, May 12th. One investment 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 company presently has a consensus rating of "Moderate Buy" and an average target price 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.