Johnson Investment Counsel Inc. Sells 24,028 Shares of PPG Industries, Inc. $PPG

Key Points

• Johnson Investment Counsel Inc. has sold 24,028 shares of PPG Industries, reducing its holdings by 46.2% in the second quarter, leaving it with 27,975 shares valued at approximately $3.18 million.
• PPG Industries reported earnings per share (EPS) of $2.22, aligning with analysts' expectations, while revenue for the quarter was $4.20 billion, slightly exceeding forecasts.
• The company recently increased its quarterly dividend from $0.68 to $0.71, reflecting a positive adjustment and an annual yield of 2.9%.

Johnson Investment Counsel Inc. decreased its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 46.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,975 shares of the specialty chemicals company's stock after selling 24,028 shares during the quarter. Johnson Investment Counsel Inc.'s holdings in PPG Industries were worth $3,182,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Advisors Ltd. LLC raised its position in shares of PPG Industries by 127.6% during the second quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company's stock worth $25,000 after acquiring an additional 125 shares during the last quarter. Cheviot Value Management LLC bought a new stake in shares of PPG Industries during the first quarter worth $26,000. CVA Family Office LLC raised its position in shares of PPG Industries by 70.6% during 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. Headlands Technologies LLC bought a new stake in shares of PPG Industries during the first quarter worth $30,000. Finally, Financial Connections Group Inc. raised its position in shares of PPG Industries by 74.6% during 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 Down 1.2%

NYSE:PPG opened at $98.45 on Monday. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $132.18. 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 stock has a market cap of $22.22 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 2.04 and a beta of 1.16. The stock has a 50-day moving average price of $108.07 and a two-hundred day moving average price of $109.06.

PPG Industries (NYSE:PPG - Get Free Report) last posted its earnings results 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 return on equity of 23.85% and a net margin of 6.25%.The firm had revenue of $4.20 billion during the quarter, compared to analysts' expectations of $4.16 billion. During the same period in the previous year, the firm earned $2.50 earnings per share. The company'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. As a group, equities analysts expect 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 was paid on Friday, September 12th. Shareholders of record on Monday, August 11th were paid a $0.71 dividend. The ex-dividend date of this dividend was Monday, August 11th. This is a positive change from PPG Industries's previous quarterly dividend of $0.68. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. PPG Industries's payout ratio is presently 64.40%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company dropped their target price on PPG Industries from $135.00 to $132.00 and set an "overweight" rating for the company in a research report on Friday. Citigroup dropped their target price on PPG Industries from $124.00 to $120.00 and set a "buy" rating for the company in a research report on Monday, October 6th. Weiss Ratings restated a "hold (c)" rating on shares of PPG Industries in a research report on Wednesday, October 8th. UBS Group dropped their target price on PPG Industries from $125.00 to $115.00 and set a "neutral" rating for the company in a research report on Monday, October 6th. Finally, Royal Bank Of Canada upped their price objective on PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $126.82.

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.

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