Optas LLC Makes New $392,000 Investment in PPG Industries, Inc. $PPG

Optas LLC bought a new position in PPG Industries, Inc. (NYSE:PPG - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,450 shares of the specialty chemicals company's stock, valued at approximately $392,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in PPG Industries by 5.6% during the first quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company's stock worth $1,220,259,000 after buying an additional 592,152 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in PPG Industries by 58.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company's stock worth $524,627,000 after buying an additional 1,766,518 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in PPG Industries by 3.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,937,274 shares of the specialty chemicals company's stock worth $321,147,000 after buying an additional 105,973 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in PPG Industries by 3.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,734,270 shares of the specialty chemicals company's stock worth $298,992,000 after buying an additional 85,891 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in PPG Industries by 2.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,174,762 shares of the specialty chemicals company's stock worth $237,810,000 after buying an additional 60,301 shares in the last quarter. Institutional investors own 81.86% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group reduced their target price on shares of PPG Industries from $125.00 to $115.00 and set a "neutral" rating for the company in a report on Monday. Royal Bank Of Canada raised their target price on shares of PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. Wells Fargo & Company raised their target price on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st. Citigroup reduced their target price on shares of PPG Industries from $124.00 to $120.00 and set a "buy" rating for the company in a report on Monday. Finally, Mizuho reduced their price target on shares of PPG Industries from $135.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, PPG Industries presently has an average rating of "Moderate Buy" and a consensus target price of $127.09.

PPG Industries Stock Down 2.0%

PPG stock opened at $99.51 on Friday. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $132.18. 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 company has a market cap of $22.46 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 2.11 and a beta of 1.16. The company has a 50 day moving average of $108.19 and a two-hundred day moving average of $109.16.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 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 analyst estimates of $4.16 billion. During the same quarter in the prior year, the business posted $2.50 EPS. PPG Industries'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. On average, equities analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Monday, August 11th were issued 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 yield of 2.9%. This is an increase from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's payout ratio is 64.40%.

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.

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.