PPG Industries, Inc. $PPG Shares Sold by Horizon Investments LLC

Key Points

• Horizon Investments LLC reduced its stake in PPG Industries by 38.3% during the first quarter, now owning 6,360 shares worth about $691,000.
• PPG Industries' earnings results showed a marginal year-over-year decline with $4.20 billion in revenue, while EPS met consensus estimates at $2.22.
• The company recently announced a quarterly dividend increase to $0.71 per share, marking a yield of 2.5% for investors ahead of the payment date on September 12th.

Horizon Investments LLC decreased its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 38.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,360 shares of the specialty chemicals company's stock after selling 3,953 shares during the period. Horizon Investments LLC's holdings in PPG Industries were worth $691,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Park Square Financial Group LLC bought a new position in shares of PPG Industries during the fourth quarter worth about $26,000. Cheviot Value Management LLC bought a new position in PPG Industries in the first quarter worth about $26,000. Headlands Technologies LLC bought a new position in PPG Industries in the first quarter worth about $30,000. CVA Family Office LLC lifted its holdings in PPG Industries by 70.6% in the first quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock worth $30,000 after acquiring an additional 113 shares during the last quarter. Finally, Financial Connections Group Inc. lifted its holdings in PPG Industries by 74.6% in the first quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company's stock worth $38,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 81.86% of the company's stock.

PPG Industries Stock Performance

Shares of PPG traded up $2.4830 during mid-day trading on Friday, reaching $114.0530. 1,594,262 shares of the company's stock traded hands, compared to its average volume of 1,999,375. The business's 50-day moving average price is $112.46 and its 200-day moving average price is $110.69. The stock has a market capitalization of $25.74 billion, a P/E ratio of 25.86, a price-to-earnings-growth ratio of 2.36 and a beta of 1.17. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 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 last year, the business earned $2.50 earnings per share. The business's revenue for the quarter was down .9% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Equities analysts predict 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 a boost from PPG Industries's previous quarterly dividend of $0.68. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, August 11th. PPG Industries's dividend payout ratio (DPR) is 64.40%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PPG shares. Mizuho raised their target price on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. cut their target price on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. UBS Group raised their target price on shares of PPG Industries from $111.00 to $125.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Citigroup raised their target price on shares of PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Finally, Wells Fargo & Company raised their target price on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. One investment 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. Based on data from MarketBeat, PPG Industries has a consensus rating of "Moderate Buy" and a consensus target price of $129.82.

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.