Ethic Inc. Boosts Position in PPG Industries, Inc. $PPG

Key Points

• Ethic Inc. increased its stake in PPG Industries by 19.3% in Q2, bringing its holdings to 43,836 shares valued at $5 million.
• PPG Industries' recent earnings report indicated earnings per share of $2.22, meeting expectations, while revenue fell by 0.9% year-over-year to $4.20 billion.
• The company announced a quarterly dividend of $0.71 per share, reflecting a dividend yield of 2.7% and a payout ratio of 64.40%.

Ethic Inc. grew its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 19.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,836 shares of the specialty chemicals company's stock after purchasing an additional 7,091 shares during the quarter. Ethic Inc.'s holdings in PPG Industries were worth $5,004,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Capital Advisors Ltd. LLC grew its stake in PPG Industries by 127.6% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company's stock valued at $25,000 after acquiring an additional 125 shares during the period. Cheviot Value Management LLC acquired a new stake in PPG Industries during the 1st quarter worth $26,000. Gladwyn Financial Advisors Inc. acquired a new stake in PPG Industries during the 2nd quarter worth $31,000. Headlands Technologies LLC acquired a new stake in PPG Industries during the 1st quarter worth $30,000. Finally, Financial Connections Group Inc. boosted its position in shares of PPG Industries by 74.6% during the 1st quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company's stock valued at $38,000 after acquiring an additional 150 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Price Performance

PPG stock opened at $103.50 on Friday. The company 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. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $130.05. The business has a 50 day simple moving average of $106.94 and a 200-day simple moving average of $108.78. 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 posted its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, meeting the consensus estimate of $2.22. The business had revenue of $4.20 billion during 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%.The company's revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.50 earnings per share. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. As a group, equities analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada boosted 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. Citigroup cut their price target on shares of PPG Industries from $124.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, October 6th. Mizuho cut their price target on shares of PPG Industries from $135.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday, October 3rd. Weiss Ratings restated a "hold (c)" rating on shares of PPG Industries in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upgraded shares of PPG Industries from a "neutral" rating to an "overweight" rating and set a $112.00 target price on the stock in a research note on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, PPG Industries presently has a consensus rating of "Moderate Buy" and a consensus target price of $125.00.

About PPG Industries

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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