Interval Partners LP Invests $25.14 Million in PPG Industries, Inc. $PPG

Key Points

• Interval Partners LP invested approximately $25.14 million in PPG Industries, acquiring 229,922 shares during the first quarter.
• PPG Industries recently declared a quarterly dividend of $0.71 per share, increasing from the previous dividend of $0.68, representing a 2.6% dividend yield.
• Analysts have a consensus rating of "Moderate Buy" for PPG Industries, with a target price ranging from $117.00 to $140.00 among major financial institutions.

Interval Partners LP purchased a new stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 229,922 shares of the specialty chemicals company's stock, valued at approximately $25,142,000. Interval Partners LP owned approximately 0.10% of PPG Industries as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Cookson Peirce & Co. Inc. grew its position in PPG Industries by 1.9% in the 1st quarter. Cookson Peirce & Co. Inc. now owns 4,862 shares of the specialty chemicals company's stock worth $532,000 after purchasing an additional 89 shares during the period. Summit Financial LLC grew its position in PPG Industries by 1.3% in the 1st quarter. Summit Financial LLC now owns 7,246 shares of the specialty chemicals company's stock worth $792,000 after purchasing an additional 90 shares during the period. LRI Investments LLC grew its position in PPG Industries by 25.3% in the 4th 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 period. Conning Inc. grew its position in PPG Industries by 5.5% in the 1st quarter. Conning Inc. now owns 1,881 shares of the specialty chemicals company's stock worth $206,000 after purchasing an additional 98 shares during the period. Finally, Beacon Capital Management LLC grew its position in PPG Industries by 37.1% in the 1st quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company's stock worth $41,000 after purchasing an additional 101 shares during the period. Hedge funds and other institutional investors own 81.86% of the company's stock.

PPG Industries Price Performance

PPG Industries stock traded up $0.16 during mid-day trading on Friday, hitting $109.80. The stock had a trading volume of 2,222,294 shares, compared to its average volume of 1,356,318. The firm has a market capitalization of $24.78 billion, a P/E ratio of 24.90, a P/E/G ratio of 2.27 and a beta of 1.14. 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 firm's 50 day moving average is $112.45 and its 200 day moving average is $110.25. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter in the prior year, the firm earned $2.50 EPS. The business's revenue was down .9% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, sell-side analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal 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 issued a $0.71 dividend. 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 64.40%.

Wall Street Analyst Weigh In

A number of research firms have commented on PPG. Mizuho lifted their target price on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Royal Bank Of Canada upped their price objective on PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a research note on Friday, August 1st. Wells Fargo & Company upped their price objective on PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft upped their price objective on PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Finally, Citigroup upped their price objective on PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, June 13th. One investment 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 stock currently has a consensus rating of "Moderate Buy" and an average price target 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.