Fox Run Management L.L.C. Purchases Shares of 2,868 PPG Industries, Inc. $PPG

Key Points

• Fox Run Management L.L.C. acquired a new stake of 2,868 shares in PPG Industries, valued at approximately $314,000, during the first quarter of the year.
• PPG Industries reported Q2 EPS of $2.22, meeting analysts' expectations, but experienced a year-over-year revenue decline of 0.9%, with earnings guidance for FY 2025 set at 7.750-8.050 EPS.
• The company announced an increase in its quarterly dividend to $0.71 per share, representing an annualized yield of 2.5%, with a dividend payout ratio of 64.40%.

Fox Run Management L.L.C. bought a new stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,868 shares of the specialty chemicals company's stock, valued at approximately $314,000.

Several other large investors have also recently modified their holdings of the stock. Cookson Peirce & Co. Inc. grew its position in PPG Industries by 1.9% in the 1st quarter. Cookson Peirce & Co. Inc. now owns 4,862 shares of the specialty chemicals company's stock valued at $532,000 after acquiring an additional 89 shares during the last quarter. LRI Investments LLC grew its position in PPG Industries by 25.3% in the 4th quarter. LRI Investments LLC now owns 456 shares of the specialty chemicals company's stock valued at $54,000 after acquiring an additional 92 shares during the last quarter. Conning Inc. grew its position in PPG Industries by 5.5% in the 1st quarter. Conning Inc. now owns 1,881 shares of the specialty chemicals company's stock valued at $206,000 after acquiring an additional 98 shares during the last quarter. Beacon Capital Management LLC grew its position in PPG Industries by 37.1% in the 1st quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company's stock valued at $41,000 after acquiring an additional 101 shares during the last quarter. Finally, Chilton Capital Management LLC grew its position in PPG Industries by 22.6% in the 1st quarter. Chilton Capital Management LLC now owns 576 shares of the specialty chemicals company's stock valued at $63,000 after acquiring an additional 106 shares during the last quarter. Institutional investors own 81.86% of the company's stock.

PPG Industries Stock Up 2.2%

Shares of NYSE PPG traded up $2.4830 during mid-day trading on Friday, reaching $114.0530. 1,594,262 shares of the company were exchanged, compared to its average volume of 1,999,375. 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 stock has a market cap of $25.74 billion, a price-to-earnings ratio of 25.86, a P/E/G ratio of 2.36 and a beta of 1.17. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $137.24. The firm has a 50-day moving average of $112.46 and a 200 day moving average of $110.69.

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

PPG Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 11th will be paid 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 dividend on an annualized basis and a dividend yield of 2.5%. PPG Industries's dividend payout ratio (DPR) is currently 64.40%.

Wall Street Analyst Weigh In

Several equities analysts have commented on PPG shares. Mizuho upped their price objective on PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. JPMorgan Chase & Co. lowered their target price on PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Royal Bank Of Canada upped their target price on PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. UBS Group upped their target price on PPG Industries from $111.00 to $125.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on 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's stock. According to data from MarketBeat.com, PPG Industries has an average 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.