Korea Investment CORP Trims Stock Holdings in PPG Industries, Inc. $PPG

Key Points

• Korea Investment CORP reduced its holdings in PPG Industries, Inc. by 21.1% during the 1st quarter, leaving them with approximately 0.07% of the company, valued at around $16.9 million.
• PPG Industries increased its quarterly dividend from $0.68 to $0.71 per share, representing a 2.5% dividend yield.
• Wall Street analysts have varying ratings for PPG Industries, with an average recommendation of "Moderate Buy" and a consensus price target of $129.82.

Korea Investment CORP lessened its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 21.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 154,714 shares of the specialty chemicals company's stock after selling 41,374 shares during the period. Korea Investment CORP owned about 0.07% of PPG Industries worth $16,918,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Kovitz Investment Group Partners LLC raised its holdings in shares of PPG Industries by 482.2% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company's stock worth $518,132,000 after acquiring an additional 3,592,655 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of PPG Industries by 815.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,031,164 shares of the specialty chemicals company's stock worth $362,074,000 after buying an additional 2,700,018 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of PPG Industries by 3.7% in the first quarter. Dimensional Fund Advisors LP now owns 2,937,274 shares of the specialty chemicals company's stock valued at $321,147,000 after acquiring an additional 105,973 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of 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 valued at $298,992,000 after acquiring an additional 85,891 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of PPG Industries by 29.9% during the fourth quarter. Northern Trust Corp now owns 2,638,353 shares of the specialty chemicals company's stock valued at $315,151,000 after acquiring an additional 607,154 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PPG. UBS Group increased their price target on PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. Wells Fargo & Company increased their price target on PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Mizuho increased their price target on PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Royal Bank Of Canada increased their price target on PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. Finally, Fermium Researc raised PPG Industries to a "strong-buy" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $129.82.

PPG Industries Stock Performance

Shares of PPG stock traded down $2.0250 during trading hours on Monday, hitting $112.2450. 559,906 shares of the company were exchanged, compared to its average volume of 2,050,404. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $137.24. The stock has a market capitalization of $25.33 billion, a price-to-earnings ratio of 25.44, a P/E/G ratio of 2.36 and a beta of 1.17. 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 firm has a fifty day simple moving average of $112.46 and a 200 day simple moving average of $110.65.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, meeting analysts' consensus estimates of $2.22. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The business had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same period in the previous year, the business earned $2.50 EPS. PPG Industries'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. Research analysts predict that PPG Industries, Inc. will post 7.95 earnings per share 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. Investors of record on Monday, August 11th will be paid a $0.71 dividend. The ex-dividend date is Monday, August 11th. This represents a $2.84 dividend on an annualized basis and a yield of 2.5%. This is a positive change from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's dividend payout ratio (DPR) is presently 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.