Gotham Asset Management LLC Purchases 70,416 Shares of PPG Industries, Inc. $PPG

Key Points

• Gotham Asset Management LLC increased its holdings in PPG Industries by 39.3%, owning 249,387 shares worth approximately $27.27 million after purchasing an additional 70,416 shares in the first quarter.
• PPG Industries recently announced a quarterly dividend of $0.71 per share, an increase from the previous dividend of $0.68, providing an annualized yield of 2.6%.
• Several analysts have raised their price targets for PPG Industries, with a consensus rating of "Moderate Buy" and an average price target of $129.82.

Gotham Asset Management LLC increased its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 39.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 249,387 shares of the specialty chemicals company's stock after purchasing an additional 70,416 shares during the quarter. Gotham Asset Management LLC owned approximately 0.11% of PPG Industries worth $27,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of PPG. Park Square Financial Group LLC bought a new stake in shares of PPG Industries in the fourth quarter worth about $26,000. Cheviot Value Management LLC bought a new stake in PPG Industries during the 1st quarter valued at approximately $26,000. CVA Family Office LLC boosted its position in PPG Industries by 70.6% during the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock valued at $30,000 after acquiring an additional 113 shares in the last quarter. Headlands Technologies LLC bought a new stake in PPG Industries during the 1st quarter valued at approximately $30,000. Finally, Financial Connections Group Inc. boosted its position in PPG Industries by 74.6% during the 1st quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company's stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, May 12th. UBS Group boosted their price target on PPG Industries from $111.00 to $125.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. Wells Fargo & Company boosted their price target on PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Citigroup boosted their price target on PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Finally, Royal Bank Of Canada boosted their price target on PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $129.82.

PPG Industries Stock Performance

PPG traded down $2.13 during mid-day trading on Tuesday, reaching $109.40. 1,996,352 shares of the company traded hands, compared to its average volume of 2,031,522. The stock has a market capitalization of $24.69 billion, a P/E ratio of 24.81, a P/E/G ratio of 2.27 and a beta of 1.14. 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's fifty day moving average price is $112.40 and its 200-day moving average price is $110.22. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $137.24.

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 (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 firm had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter in the previous year, the firm posted $2.50 EPS. The company'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. On average, sell-side analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders 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 dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, August 11th. This is a positive change from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's payout ratio is presently 64.40%.

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.