National Pension Service Raises Position in PPG Industries, Inc. $PPG

Key Points

• The National Pension Service increased its stake in PPG Industries by 19.8%, owning approximately 0.16% of the company valued at $38.6 million after acquiring an additional 58,457 shares.
• PPG Industries reported earnings of $2.22 EPS for the last quarter, meeting analysts’ expectations, with revenue of $4.20 billion, slightly above forecasts.
• The company announced a quarterly dividend increase to $0.71 per share, up from $0.68, with an annualized yield of 2.5% and a payout ratio of 64.40%.

National Pension Service grew its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 19.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 353,264 shares of the specialty chemicals company's stock after buying an additional 58,457 shares during the quarter. National Pension Service owned 0.16% of PPG Industries worth $38,629,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Park Square Financial Group LLC bought a new position in PPG Industries in the fourth quarter worth approximately $26,000. Cheviot Value Management LLC bought a new position in PPG Industries in the first quarter worth approximately $26,000. Headlands Technologies LLC bought a new position in PPG Industries in the first quarter worth approximately $30,000. CVA Family Office LLC grew its stake in 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 purchasing an additional 113 shares in the last quarter. Finally, Financial Connections Group Inc. grew its stake in 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 purchasing an additional 150 shares in the last quarter. Institutional investors own 81.86% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on PPG shares. Wells Fargo & Company upped their target price on PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Royal Bank Of Canada raised their target price on PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a research note on Friday, August 1st. Mizuho raised their target price on PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. UBS Group raised their target price on PPG Industries from $111.00 to $125.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 9th. Finally, Fermium Researc upgraded PPG Industries to a "strong-buy" rating in a research note on Thursday, May 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $129.82.

PPG Industries Price Performance

Shares of NYSE:PPG traded down $0.71 during trading on Wednesday, reaching $112.15. 491,511 shares of the company's stock traded hands, compared to its average volume of 2,064,409. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $137.24. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76. The firm has a market cap of $25.31 billion, a PE ratio of 25.41, a P/E/G ratio of 2.29 and a beta of 1.17. The company has a 50-day simple moving average of $112.34 and a 200-day simple moving average of $110.68.

PPG Industries (NYSE:PPG - Get Free Report) last posted its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 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 for the quarter, compared to analysts' expectations of $4.16 billion. During the same period last year, the firm earned $2.50 EPS. The company's quarterly 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 predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 11th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $2.84 dividend on an annualized basis and a yield of 2.5%. This is a boost from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's dividend payout ratio is 64.40%.

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.