Meyer Handelman Co. Decreases Holdings in PPG Industries, Inc. $PPG

Key Points

• Meyer Handelman Co. has reduced its holdings in PPG Industries by 1.4%, owning 167,838 shares valued at approximately $19.1 million as of the end of the second quarter.
• The company recently increased its quarterly dividend from $0.68 to $0.71 per share, representing an annualized dividend of $2.84 and a yield of 2.7%.
• PPG Industries reported quarterly earnings matching expectations with $2.22 EPS and a revenue of $4.20 billion, which was above analyst forecasts.

Meyer Handelman Co. decreased its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 1.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,838 shares of the specialty chemicals company's stock after selling 2,415 shares during the quarter. Meyer Handelman Co. owned 0.07% of PPG Industries worth $19,092,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in shares of PPG Industries by 15.8% during the 2nd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 551,217 shares of the specialty chemicals company's stock worth $62,701,000 after acquiring an additional 75,118 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in PPG Industries by 11.2% in the 2nd quarter. Perigon Wealth Management LLC now owns 2,054 shares of the specialty chemicals company's stock valued at $234,000 after acquiring an additional 207 shares during the last quarter. Sylvest Advisors LLC raised its holdings in PPG Industries by 10.0% in the 2nd quarter. Sylvest Advisors LLC now owns 7,221 shares of the specialty chemicals company's stock valued at $821,000 after acquiring an additional 654 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in PPG Industries by 27.7% in the 2nd quarter. TD Private Client Wealth LLC now owns 7,999 shares of the specialty chemicals company's stock valued at $910,000 after acquiring an additional 1,736 shares during the last quarter. Finally, Mather Group LLC. raised its holdings in PPG Industries by 2.9% in the 2nd quarter. Mather Group LLC. now owns 125,616 shares of the specialty chemicals company's stock valued at $14,289,000 after acquiring an additional 3,551 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

PPG Industries Stock Performance

NYSE:PPG opened at $103.94 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.04. The firm has a 50-day moving average of $110.17 and a two-hundred day moving average of $109.81. The stock has a market cap of $23.46 billion, a P/E ratio of 23.57, a PEG ratio of 2.18 and a beta of 1.14. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year 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 earnings per share for the quarter, meeting analysts' consensus estimates of $2.22. The company had revenue of $4.20 billion during the quarter, compared to analysts' expectations 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 for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the company posted $2.50 EPS. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, August 11th were given a dividend of $0.71 per share. 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 annualized dividend and a dividend yield of 2.7%. PPG Industries's dividend payout ratio is 64.40%.

Wall Street Analysts Forecast Growth

PPG has been the subject of a number of research analyst reports. 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 report 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 report on Tuesday, July 1st. UBS Group upped their price objective on PPG Industries from $111.00 to $125.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Mizuho upped their price objective on PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Finally, Citigroup upped their price objective on PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a report 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 issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $129.82.

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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