Mirae Asset Global Investments Co. Ltd. Buys 4,164 Shares of PPG Industries, Inc. $PPG

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its stake in PPG Industries by 12.2% during the second quarter, acquiring an additional 4,164 shares, bringing its total holdings to 38,329 shares worth approximately $4.36 million.
• Several institutions have also made adjustments to their holdings in PPG, with combined ownership among institutional investors now at 81.86% of the company.
• PPG Industries recently announced a quarterly dividend of $0.71, a rise from the previous $0.68, reflecting a commitment to returning value to shareholders.

Mirae Asset Global Investments Co. Ltd. raised its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 12.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 38,329 shares of the specialty chemicals company's stock after acquiring an additional 4,164 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in PPG Industries were worth $4,360,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cookson Peirce & Co. Inc. grew its stake in PPG Industries by 1.9% in the first 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 boosted its holdings in shares of PPG Industries by 1.3% during the 1st quarter. Summit Financial LLC now owns 7,246 shares of the specialty chemicals company's stock valued at $792,000 after buying an additional 90 shares in the last quarter. Conning Inc. grew its position in shares of 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 buying an additional 98 shares during the period. Beacon Capital Management LLC increased its stake in shares of 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 acquiring an additional 101 shares in the last quarter. Finally, Bell Investment Advisors Inc lifted its position in PPG Industries by 40.9% during the 1st quarter. Bell Investment Advisors Inc now owns 355 shares of the specialty chemicals company's stock valued at $39,000 after acquiring an additional 103 shares during the period. Institutional investors own 81.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PPG. UBS Group decreased their target price on shares of PPG Industries from $125.00 to $115.00 and set a "neutral" rating for the company in a research note on Monday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of PPG Industries in a research report on Saturday, September 27th. Citigroup dropped their target price on PPG Industries from $124.00 to $120.00 and set a "buy" rating on the stock in a report on Monday. Royal Bank Of Canada raised their price target on PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a report on Friday, August 1st. Finally, Mizuho lowered their price target on PPG Industries from $135.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $127.09.

PPG Industries Stock Down 0.8%

PPG stock opened at $103.59 on Tuesday. The stock has a market capitalization of $23.38 billion, a P/E ratio of 23.49, a P/E/G ratio of 2.16 and a beta of 1.16. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.04. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $132.18. The business has a fifty day moving average price of $108.62 and a 200-day moving average price of $109.36.

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, hitting the consensus estimate of $2.22. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The company had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same period last year, the company earned $2.50 EPS. PPG Industries's revenue for the quarter was down .9% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Equities analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Monday, August 11th were given a $0.71 dividend. This is a boost from PPG Industries's previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Monday, August 11th. This represents a $2.84 dividend on an annualized basis and a yield of 2.7%. PPG Industries's payout ratio is presently 64.40%.

About PPG Industries

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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