PPG Industries, Inc. $PPG Shares Sold by NewEdge Advisors LLC

Key Points

• NewEdge Advisors LLC reduced its holdings in PPG Industries by 19.8% in the first quarter, selling 3,638 shares and now owning 14,742 shares valued at approximately $1.61 million.
• PPG Industries recently reported earnings of $2.22 per share for its latest quarter, meeting analysts' expectations, and had a net revenue of $4.20 billion, down 0.9% compared to the previous year.
• PPG Industries raised its quarterly dividend from $0.68 to $0.71, reflecting an annualized rate of $2.84 and a dividend yield of 2.6%.

NewEdge Advisors LLC lessened its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 19.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,742 shares of the specialty chemicals company's stock after selling 3,638 shares during the quarter. NewEdge Advisors LLC's holdings in PPG Industries were worth $1,612,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PPG. Park Square Financial Group LLC purchased a new position in shares of PPG Industries in the 4th quarter valued at about $26,000. Cheviot Value Management LLC purchased a new position in shares of PPG Industries in the 1st quarter valued at about $26,000. CVA Family Office LLC increased its holdings in shares of PPG Industries by 70.6% in the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock valued at $30,000 after purchasing an additional 113 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of PPG Industries in the 1st quarter valued at about $30,000. Finally, Financial Connections Group Inc. increased its holdings in shares of PPG Industries by 74.6% in the 1st quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company's stock valued at $38,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

PPG Industries Trading Up 0.9%

Shares of PPG Industries stock traded up $1.02 during mid-day trading on Thursday, hitting $109.12. 1,715,188 shares of the stock were exchanged, compared to its average volume of 1,455,720. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24. The stock has a market capitalization of $24.63 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 2.23 and a beta of 1.14. The company has a 50-day simple moving average of $111.08 and a 200 day simple moving average of $110.05. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.22. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The company had revenue of $4.20 billion for the quarter, compared to analysts' expectations of $4.16 billion. During the same period last year, the company earned $2.50 EPS. The firm's revenue for the quarter was down .9% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Monday, August 11th were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.6%. This is an increase from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's dividend payout ratio is 64.40%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PPG shares. Wells Fargo & Company increased their price target on shares of PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. UBS Group increased their price target on shares of PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Citigroup raised their target price on shares of PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a report on Friday, June 13th. Mizuho raised their target price on shares of PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Finally, Royal Bank Of Canada raised their target price on shares of PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a report on Friday, August 1st. One equities research 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 stock. According to data from MarketBeat, the company presently has a consensus 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.