Norinchukin Bank The Buys 2,503 Shares of PPG Industries, Inc. $PPG

Key Points

• Norinchukin Bank The increased its stake in PPG Industries by 19.0%, acquiring an additional 2,503 shares for a total of 15,711 shares valued at approximately $1.72 million.
• The company reported earnings per share (EPS) of $2.22 for the past quarter, matching analysts' expectations, with a revenue of $4.20 billion, slightly exceeding estimates.
• PPG Industries announced an increase in its quarterly dividend to $0.71, reflecting an annualized dividend of $2.84 and a yield of 2.5%.

Norinchukin Bank The raised its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 19.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,711 shares of the specialty chemicals company's stock after acquiring an additional 2,503 shares during the quarter. Norinchukin Bank The's holdings in PPG Industries were worth $1,718,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new position in PPG Industries in the fourth quarter valued at about $26,000. Cheviot Value Management LLC bought a new stake in shares of PPG Industries in the first quarter valued at approximately $26,000. Headlands Technologies LLC bought a new stake in shares of PPG Industries in the first quarter valued at approximately $30,000. CVA Family Office LLC raised its position in shares of PPG Industries by 70.6% in the first 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 during the period. Finally, Financial Connections Group Inc. raised its position in shares of PPG Industries by 74.6% in the first 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 during the period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, June 13th. Royal Bank Of Canada boosted their price target on shares of PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. Fermium Researc raised shares of PPG Industries to a "strong-buy" rating in a research report on Thursday, May 1st. Wells Fargo & Company boosted their price target on shares of PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, PPG Industries currently has an average rating of "Moderate Buy" and a consensus target price of $129.82.

PPG Industries Price Performance

PPG Industries stock traded down $2.0910 during midday trading on Monday, reaching $112.1790. 1,161,618 shares of the stock were exchanged, compared to its average volume of 2,015,079. The company's fifty day moving average is $112.53 and its 200-day moving average is $110.63. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42. The firm has a market cap of $25.32 billion, a PE ratio of 25.44, a PEG ratio of 2.36 and a beta of 1.17. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24.

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

PPG Industries Increases Dividend

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