Plato Investment Management Ltd Decreases Stock Position in PPG Industries, Inc. $PPG

Key Points

• Plato Investment Management Ltd reduced its stake in PPG Industries by 20.6% in Q1, holding 19,206 shares after selling nearly 5,000 shares, worth approximately $2.12 million.
• PPG Industries recently announced a quarterly dividend increase from $0.68 to $0.71 per share, reflecting a positive growth strategy with an annualized dividend of $2.84.
• Analysts have raised their price targets for PPG Industries, with estimates now averaging $129.82, reflecting optimism around the company's performance and earnings expectations.

Plato Investment Management Ltd cut its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 20.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,206 shares of the specialty chemicals company's stock after selling 4,985 shares during the quarter. Plato Investment Management Ltd's holdings in PPG Industries were worth $2,123,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new stake in shares of PPG Industries in the 4th quarter worth about $26,000. Cheviot Value Management LLC acquired a new stake in shares of PPG Industries during the first quarter worth $26,000. Headlands Technologies LLC acquired a new stake in shares of PPG Industries during the first quarter worth $30,000. CVA Family Office LLC raised its holdings in shares of PPG Industries by 70.6% during 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 during the period. Finally, Financial Connections Group Inc. raised its holdings in shares of PPG Industries by 74.6% during 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 during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Down 0.5%

PPG Industries stock opened at $108.87 on Thursday. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $137.24. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76. The company's 50-day moving average price is $112.06 and its two-hundred day moving average price is $110.21. The stock has a market cap of $24.57 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 2.26 and a beta of 1.14.

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

PPG Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, August 11th will be given a dividend of $0.71 per share. This is a positive change from PPG Industries's previous quarterly dividend of $0.68. The ex-dividend date is Monday, August 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.6%. PPG Industries's payout ratio is 64.40%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PPG. UBS Group increased their price objective on shares of PPG Industries from $111.00 to $125.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Mizuho increased their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Citigroup increased their price objective on shares of PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Royal Bank Of Canada increased their price objective 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. Finally, Wells Fargo & Company increased their price objective 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. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average 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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