KLP Kapitalforvaltning AS Sells 30,400 Shares of PPG Industries, Inc. $PPG

KLP Kapitalforvaltning AS lowered its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 26.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 83,656 shares of the specialty chemicals company's stock after selling 30,400 shares during the period. KLP Kapitalforvaltning AS's holdings in PPG Industries were worth $9,516,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PPG. Cheviot Value Management LLC bought a new stake in shares of PPG Industries in the first quarter worth $26,000. CVA Family Office LLC grew its holdings in shares of 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 period. Headlands Technologies LLC bought a new stake in shares of PPG Industries in the first quarter worth $30,000. Financial Connections Group Inc. grew its holdings in shares of 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 period. Finally, Bell Investment Advisors Inc lifted its position in PPG Industries by 40.9% during the first quarter. Bell Investment Advisors Inc now owns 355 shares of the specialty chemicals company's stock valued at $39,000 after purchasing an additional 103 shares in the last quarter. Institutional investors own 81.86% of the company's stock.

PPG Industries Price Performance

Shares of PPG Industries stock opened at $99.51 on Friday. The stock's 50-day simple moving average is $108.19 and its 200-day simple moving average is $109.16. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $132.18. The company has a market capitalization of $22.46 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 2.11 and a beta of 1.16. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76.

PPG Industries (NYSE:PPG - Get Free Report) last announced 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 return on equity of 23.85% and a net margin of 6.25%.The business had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same period in the previous year, the business earned $2.50 earnings per share. 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. As a group, analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, August 11th were given a $0.71 dividend. The ex-dividend date was Monday, August 11th. This is a positive change from PPG Industries's previous quarterly dividend of $0.68. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. PPG Industries's dividend payout ratio (DPR) is presently 64.40%.

Analysts Set New Price Targets

Several research firms recently weighed in on PPG. Royal Bank Of Canada lifted their target price on PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. UBS Group lowered their target price on PPG Industries from $125.00 to $115.00 and set a "neutral" rating on the stock in a research report on Monday. Citigroup lowered their target price on PPG Industries from $124.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday. Mizuho lowered their target price on PPG Industries from $135.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday, October 3rd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of PPG Industries in a research report on Wednesday. One 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 data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $127.09.

PPG Industries Company 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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