FARMERS & MERCHANTS TRUST Co OF LONG BEACH Makes New Investment in PPG Industries, Inc. $PPG

Key Points

• Farmers & Merchants Trust Co of Long Beach acquired a new stake in PPG Industries, purchasing 3,872 shares valued at approximately $440,000 during the second quarter.
• Wall Street analysts have raised their price targets for PPG Industries, with consensus estimates now averaging around $129.82 and several firms rating the stock as a "buy."
• PPG Industries increased its quarterly dividend to $0.71 per share, reflecting a yield of 2.7% and a payout ratio of 64.40%.

FARMERS & MERCHANTS TRUST Co OF LONG BEACH acquired a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,872 shares of the specialty chemicals company's stock, valued at approximately $440,000.

Other institutional investors have also modified their holdings of the company. Cheviot Value Management LLC acquired a new stake in PPG Industries in the first quarter valued at $26,000. Headlands Technologies LLC purchased a new position in shares of PPG Industries in the 1st quarter valued at about $30,000. CVA Family Office LLC raised its position in shares of PPG Industries by 70.6% during the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock worth $30,000 after acquiring an additional 113 shares in the last quarter. Financial Connections Group Inc. lifted its stake in PPG Industries by 74.6% during the first quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company's stock worth $38,000 after purchasing an additional 150 shares during the last quarter. Finally, Bell Investment Advisors Inc boosted its holdings in PPG Industries by 40.9% in the first quarter. Bell Investment Advisors Inc now owns 355 shares of the specialty chemicals company's stock valued at $39,000 after purchasing an additional 103 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PPG. 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. Citigroup increased their target price 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. Wells Fargo & Company lifted their price target on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. UBS Group upped their price objective on shares of PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Finally, Royal Bank Of Canada raised their price objective on PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $129.82.

PPG Industries Stock Down 0.4%

PPG opened at $103.54 on Monday. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24. The business has a 50 day moving average price of $109.95 and a two-hundred day moving average price of $109.72. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76. The company has a market cap of $23.37 billion, a PE ratio of 23.48, a P/E/G ratio of 2.15 and a beta of 1.14.

PPG Industries (NYSE:PPG - Get Free Report) last announced its earnings results 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 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%.The company's revenue was down .9% on a year-over-year basis. During the same period last year, the business posted $2.50 EPS. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. As a group, research analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Monday, August 11th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Monday, August 11th. This is an increase from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's payout ratio is currently 64.40%.

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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