Generali Asset Management SPA SGR Sells 15,761 Shares of PPG Industries, Inc. $PPG

Key Points

• Generali Asset Management SPA SGR dramatically reduced its stake in PPG Industries, selling 15,761 shares and holding only 862 shares at the end of the 2nd quarter, valued at approximately $98,000.
• Several hedge funds have been adjusting their positions in PPG, with most increasing their holdings during the 1st quarter; institutional investors now own 81.86% of the company's stock.
• PPG Industries announced a quarterly dividend of $0.71 per share, representing an annualized yield of 2.8%, with the ex-dividend date set for November 10th.

Generali Asset Management SPA SGR lessened its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 94.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 862 shares of the specialty chemicals company's stock after selling 15,761 shares during the period. Generali Asset Management SPA SGR's holdings in PPG Industries were worth $98,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Cookson Peirce & Co. Inc. lifted its position in shares of 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 worth $532,000 after purchasing an additional 89 shares during the period. Summit Financial LLC lifted its position in shares of PPG Industries by 1.3% in the 1st quarter. Summit Financial LLC now owns 7,246 shares of the specialty chemicals company's stock worth $792,000 after purchasing an additional 90 shares during the period. Conning Inc. lifted its position in shares of PPG Industries by 5.5% in the 1st quarter. Conning Inc. now owns 1,881 shares of the specialty chemicals company's stock worth $206,000 after purchasing an additional 98 shares during the period. Bell Investment Advisors Inc lifted its position in shares of PPG Industries by 40.9% in the 1st quarter. Bell Investment Advisors Inc now owns 355 shares of the specialty chemicals company's stock worth $39,000 after purchasing an additional 103 shares during the period. Finally, Chilton Capital Management LLC lifted its position in shares of PPG Industries by 22.6% in the 1st quarter. Chilton Capital Management LLC now owns 576 shares of the specialty chemicals company's stock worth $63,000 after purchasing an additional 106 shares during the period. Hedge funds and other institutional investors own 81.86% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on PPG. Wells Fargo & Company decreased their target price on shares of PPG Industries from $135.00 to $132.00 and set an "overweight" rating for the company in a research report on Friday, October 10th. Royal Bank Of Canada increased their target price 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. Bank of America decreased their target price on shares of PPG Industries from $131.00 to $129.00 and set a "neutral" rating for the company in a research report on Tuesday, October 14th. JPMorgan Chase & Co. raised shares of PPG Industries from a "neutral" rating to an "overweight" rating and set a $112.00 target price for the company in a research report on Thursday. Finally, UBS Group decreased their target price on shares of PPG Industries from $125.00 to $115.00 and set a "neutral" rating for the company in a research report on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $127.73.

PPG Industries Trading Up 0.5%

Shares of PPG Industries stock opened at $101.55 on Friday. 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, Inc. has a 12-month low of $90.24 and a 12-month high of $132.18. The firm has a market capitalization of $22.92 billion, a price-to-earnings ratio of 23.03, a PEG ratio of 2.14 and a beta of 1.16. The firm's 50 day simple moving average is $107.49 and its two-hundred day simple moving average is $108.75.

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

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, November 10th will be paid a $0.71 dividend. The ex-dividend date is Monday, November 10th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.8%. PPG Industries's dividend payout ratio is presently 64.40%.

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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