PPG Industries, Inc. $PPG Shares Sold by FORA Capital LLC

Key Points

• FORA Capital LLC has reduced its stake in PPG Industries by 14.7%, now holding 17,656 shares worth approximately $1.93 million.
• PPG Industries reported earnings of $2.22 EPS, meeting analysts' expectations, with quarterly revenue of $4.20 billion, down 0.9% year-over-year.
• The company has increased its quarterly dividend from $0.68 to $0.71, representing an annualized payout of $2.84 and a dividend yield of 2.5%.

FORA Capital LLC lessened its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 14.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,656 shares of the specialty chemicals company's stock after selling 3,050 shares during the quarter. FORA Capital LLC's holdings in PPG Industries were worth $1,931,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PPG. Park Square Financial Group LLC acquired a new stake in PPG Industries in the 4th quarter valued at approximately $26,000. Cheviot Value Management LLC acquired a new position in shares of PPG Industries in the first quarter worth $26,000. Headlands Technologies LLC acquired a new position in shares of PPG Industries in the first quarter worth $30,000. CVA Family Office LLC grew its stake in shares of PPG Industries by 70.6% in the first 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. Finally, Financial Connections Group Inc. grew its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

PPG Industries Stock Down 0.1%

PPG stock traded down $0.07 during trading on Friday, reaching $111.15. The stock had a trading volume of 906,817 shares, compared to its average volume of 1,546,377. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $137.24. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $25.09 billion, a P/E ratio of 25.20, a PEG ratio of 2.30 and a beta of 1.17. The firm has a fifty day moving average price of $112.82 and a 200 day moving average price of $110.61.

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

PPG Industries Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Royal Bank Of Canada boosted their target price on shares of PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a research note on Friday, August 1st. Deutsche Bank Aktiengesellschaft upped their target price on shares of PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a report on Monday, May 12th. Fermium Researc raised shares of PPG Industries to a "strong-buy" rating in a report on Thursday, May 1st. Citigroup increased their price target on shares of PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Finally, 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 report on Wednesday, July 9th. One equities research 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. Based on data from MarketBeat, PPG Industries presently has a consensus rating of "Moderate Buy" and a consensus target price of $129.82.

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.