Gulf International Bank UK Ltd Has $1.45 Million Stock Holdings in PPG Industries, Inc. $PPG

Key Points

• Gulf International Bank UK Ltd reduced its stake in PPG Industries by 27.9% in Q1, holding 13,252 shares worth approximately $1.45 million after selling 5,135 shares.
• PPG Industries reported a $2.22 EPS for the last quarter, matching the consensus estimate, and had a revenue of $4.20 billion, slightly exceeding expectations.
• The company announced an increase in its quarterly dividend from $0.68 to $0.71 per share, reflecting a 2.5% yield and a payout ratio of 64.40%.

Gulf International Bank UK Ltd reduced its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 27.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,252 shares of the specialty chemicals company's stock after selling 5,135 shares during the quarter. Gulf International Bank UK Ltd's holdings in PPG Industries were worth $1,449,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PPG. Park Square Financial Group LLC acquired a new position in shares of 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 1st quarter valued at approximately $26,000. CVA Family Office LLC grew its position in shares of PPG Industries by 70.6% in the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock valued at $30,000 after purchasing an additional 113 shares during the period. Headlands Technologies LLC acquired a new position in shares of PPG Industries in the 1st quarter valued at approximately $30,000. Finally, Financial Connections Group Inc. grew its position in shares of PPG Industries by 74.6% in the 1st quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company's stock valued at $38,000 after purchasing an additional 150 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Down 0.6%

Shares of PPG Industries stock traded down $0.71 on Wednesday, reaching $112.15. 491,511 shares of the company were exchanged, compared to its average volume of 2,064,409. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $137.24. The company has a market capitalization of $25.31 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 2.29 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. The company has a 50-day moving average of $112.34 and a 200 day moving average of $110.68.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.22. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The company had revenue of $4.20 billion for the quarter, compared to analysts' expectations of $4.16 billion. During the same quarter in the prior year, the business posted $2.50 EPS. The business's revenue 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, equities research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 11th will be paid a $0.71 dividend. This is a boost 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 yield of 2.5%. PPG Industries's dividend payout ratio (DPR) is currently 64.40%.

Analyst Ratings Changes

Several brokerages recently issued reports on PPG. JPMorgan Chase & Co. decreased their price objective on PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Mizuho boosted 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. UBS Group upped 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. Citigroup upped 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 upped 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 assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, PPG Industries presently has a consensus rating of "Moderate Buy" and a consensus 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.