Mraz Amerine & Associates Inc. Buys New Position in PPG Industries, Inc. $PPG

Key Points

• Mraz Amerine & Associates Inc. has acquired a new position in PPG Industries, purchasing 3,000 shares valued at approximately $341,000 in the 2nd quarter.
• Analysts have revised PPG Industries' target prices, with Mizuho and Citigroup lowering their targets while Wells Fargo increased theirs, resulting in a consensus target price of $127.09.
• PPG Industries recently announced an increase in its quarterly dividend to $0.71 per share, reflecting positive growth from its previous dividend of $0.68.

Mraz Amerine & Associates Inc. purchased a new position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,000 shares of the specialty chemicals company's stock, valued at approximately $341,000.

Other large investors have also bought and sold shares of the company. Envestnet Asset Management Inc. grew its stake in shares of PPG Industries by 0.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 249,755 shares of the specialty chemicals company's stock worth $27,311,000 after acquiring an additional 1,697 shares in the last quarter. Clear Creek Financial Management LLC purchased a new position in PPG Industries during the first quarter worth about $240,000. Principal Financial Group Inc. grew its position in PPG Industries by 4.4% in the 1st quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company's stock worth $33,129,000 after purchasing an additional 12,650 shares in the last quarter. Meridian Wealth Management LLC increased its stake in PPG Industries by 311.2% in the 1st quarter. Meridian Wealth Management LLC now owns 7,665 shares of the specialty chemicals company's stock valued at $838,000 after buying an additional 5,801 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its stake in PPG Industries by 966.3% in the 1st quarter. Golden State Wealth Management LLC now owns 885 shares of the specialty chemicals company's stock valued at $97,000 after buying an additional 802 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Mizuho cut their target price on PPG Industries from $135.00 to $125.00 and set an "outperform" rating on the stock in a research note on Friday. Weiss Ratings reiterated a "hold (c)" rating on shares of PPG Industries in a report on Saturday, September 27th. Citigroup cut their price objective on PPG Industries from $124.00 to $120.00 and set a "buy" rating on the stock in a research report on Monday. Wells Fargo & Company upped their price objective on PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Finally, 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 note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $127.09.

PPG Industries Stock Performance

Shares of PPG opened at $103.59 on Tuesday. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $132.18. 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 stock's fifty day moving average price is $108.62 and its two-hundred day moving average price is $109.36. The firm has a market cap of $23.38 billion, a PE ratio of 23.49, a PEG ratio of 2.16 and a beta of 1.16.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share 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 quarter in the prior year, the company earned $2.50 EPS. The firm's quarterly revenue was down .9% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, equities research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, August 11th were paid 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 2.7%. PPG Industries's dividend payout ratio is 64.40%.

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.

Want to see what other hedge funds are holding PPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PPG Industries, Inc. (NYSE:PPG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.