NewEdge Advisors LLC Sells 3,638 Shares of PPG Industries, Inc. $PPG

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 cut its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 19.8% in the 1st quarter, according to the company in its most recent Form 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 period. NewEdge Advisors LLC's holdings in PPG Industries were worth $1,612,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PPG. Brighton Jones LLC grew its holdings in shares of PPG Industries by 9.1% in the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company's stock valued at $487,000 after acquiring an additional 339 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in shares of PPG Industries in the fourth quarter valued at approximately $568,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of PPG Industries by 17.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,879 shares of the specialty chemicals company's stock valued at $3,330,000 after acquiring an additional 4,240 shares in the last quarter. OMERS ADMINISTRATION Corp grew its holdings in shares of PPG Industries by 20.2% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 9,830 shares of the specialty chemicals company's stock valued at $1,174,000 after acquiring an additional 1,652 shares in the last quarter. Finally, Nomura Holdings Inc. grew its holdings in shares of PPG Industries by 38.6% in the fourth quarter. Nomura Holdings Inc. now owns 13,961 shares of the specialty chemicals company's stock valued at $1,668,000 after acquiring an additional 3,891 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

PPG Industries Trading Down 0.9%

NYSE:PPG opened at $110.79 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. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $137.24. The company has a market cap of $25.00 billion, a P/E ratio of 25.12, a P/E/G ratio of 2.31 and a beta of 1.14. The stock's fifty day moving average price is $111.78 and its two-hundred day moving average price is $110.17.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter last year, the business posted $2.50 earnings per share. The firm's 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. As a group, analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Monday, August 11th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from PPG Industries's previous quarterly dividend of $0.68. The ex-dividend date was Monday, August 11th. PPG Industries's dividend payout ratio (DPR) is 64.40%.

Analysts Set New Price Targets

Several research firms have recently issued reports on PPG. Citigroup upped their target price on PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a report on Friday, June 13th. UBS Group upped their price objective on PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. 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. Mizuho upped their price objective on PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Finally, Royal Bank Of Canada upped their price objective on PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a research note on Friday, August 1st. One 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 company's stock. Based on data from MarketBeat, PPG Industries presently has an average rating of "Moderate Buy" and a consensus target price of $129.82.

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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