Ilmarinen Mutual Pension Insurance Co Grows Position in PPG Industries, Inc. $PPG

Key Points

• Ilmarinen Mutual Pension Insurance Co increased its stake in PPG Industries, Inc. by 35.1%, owning a total of 38,500 shares valued at approximately $4.21 million after purchasing an additional 10,000 shares.
• Multiple brokerages have recently raised their price targets for PPG Industries, with Citigroup setting a new target of $130 and Mizuho increasing theirs to $135, reflecting a positive outlook on the company's performance.
• PPG Industries announced an increase in its quarterly dividend to $0.71, representing a 2.6% yield, demonstrating the company’s commitment to returning value to shareholders amidst fluctuating earnings.

Ilmarinen Mutual Pension Insurance Co lifted its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 35.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,500 shares of the specialty chemicals company's stock after purchasing an additional 10,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in PPG Industries were worth $4,210,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC increased its holdings in shares of PPG Industries by 9.1% in the 4th quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company's stock worth $487,000 after buying an additional 339 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in PPG Industries in the fourth quarter valued at $568,000. Lighthouse Investment Partners LLC purchased a new stake in PPG Industries during the fourth quarter valued at about $1,792,000. LRI Investments LLC lifted its stake in PPG Industries by 25.3% during the fourth quarter. LRI Investments LLC now owns 456 shares of the specialty chemicals company's stock worth $54,000 after purchasing an additional 92 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in PPG Industries by 17.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,879 shares of the specialty chemicals company's stock worth $3,330,000 after purchasing an additional 4,240 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PPG. Citigroup raised their price objective on PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a report on Friday, June 13th. Mizuho increased their price target on shares of 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 lifted their price target on shares of PPG Industries from $111.00 to $125.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 9th. Wells Fargo & Company upped their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Finally, 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 report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $129.82.

PPG Industries Stock Performance

NYSE:PPG opened at $108.87 on Thursday. 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 fifty-two week low of $90.24 and a fifty-two week high of $137.24. The firm has a market cap of $24.57 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 2.26 and a beta of 1.14. The business has a 50 day moving average price of $112.06 and a 200-day moving average price of $110.21.

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

PPG Industries Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, August 11th. This is a boost from PPG Industries's previous quarterly dividend of $0.68. This represents a $2.84 annualized dividend and a dividend yield of 2.6%. PPG Industries's payout ratio is 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.

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