Gitterman Wealth Management LLC Invests $333,000 in PPG Industries, Inc. $PPG

Key Points

• Gitterman Wealth Management LLC has purchased 3,043 shares of PPG Industries, valued at approximately $333,000, indicating growing interest in the specialty chemicals sector.
• PPG Industries recently declared a quarterly dividend of $0.71 per share, a boost from the previous dividend of $0.68, reflecting the company's commitment to returning value to shareholders.
• Wall Street analysts have varied price targets for PPG Industries, with Citigroup raising its target to $130 and Wells Fargo to $135, suggesting optimistic growth expectations for the stock.

Gitterman Wealth Management LLC purchased a new position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,043 shares of the specialty chemicals company's stock, valued at approximately $333,000.

Several other large investors have also modified their holdings of the business. Wellington Management Group LLP grew its stake in shares of PPG Industries by 5.6% in the first quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company's stock valued at $1,220,259,000 after buying an additional 592,152 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in PPG Industries by 58.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company's stock worth $524,627,000 after purchasing an additional 1,766,518 shares in the last quarter. Kovitz Investment Group Partners LLC raised its stake in PPG Industries by 482.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company's stock worth $518,132,000 after acquiring an additional 3,592,655 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of PPG Industries by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,937,274 shares of the specialty chemicals company's stock valued at $321,147,000 after purchasing an additional 105,973 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in PPG Industries by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,734,270 shares of the specialty chemicals company's stock valued at $298,992,000 after buying an additional 85,891 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Price Performance

Shares of NYSE:PPG traded down $2.0910 on Monday, hitting $112.1790. The company had a trading volume of 1,161,618 shares, compared to its average volume of 2,054,458. 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 of $112.46 and a 200 day moving average of $110.65. The company has a market cap of $25.32 billion, a PE ratio of 25.44, a PEG ratio of 2.36 and a beta of 1.17. 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 released its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, hitting the consensus estimate 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 net margin of 6.25% and a return on equity of 23.85%. PPG Industries's revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the company earned $2.50 EPS. 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 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, August 11th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.5%. This is a boost from PPG Industries's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Monday, August 11th. PPG Industries's dividend payout ratio (DPR) is presently 64.40%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PPG. JPMorgan Chase & Co. lowered their price target on PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Citigroup upped their price target on PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. Mizuho boosted their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. UBS Group upped their price objective on shares of PPG Industries from $111.00 to $125.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft lifted 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. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target 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.