Northwestern Mutual Wealth Management Co. Grows Stake in PPG Industries, Inc. $PPG

Key Points

• Northwestern Mutual Wealth Management Co. significantly increased its stake in PPG Industries by 50.4% during the first quarter, owning 20,666 shares valued at approximately $2.26 million.
• PPG Industries reported earnings of $2.22 per share for the last quarter, meeting consensus estimates while revenues were up to $4.20 billion, slightly above analyst predictions.
• The company recently raised its dividend to $0.71 per share, marking an increase from the previous quarter's $0.68 dividend, providing a current yield of 2.6%.

Northwestern Mutual Wealth Management Co. increased its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 50.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,666 shares of the specialty chemicals company's stock after purchasing an additional 6,921 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in PPG Industries were worth $2,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Park Square Financial Group LLC purchased a new stake in shares of PPG Industries during the fourth quarter worth about $26,000. Cheviot Value Management LLC purchased a new stake in shares of PPG Industries during the first quarter worth about $26,000. CVA Family Office LLC grew its position 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 in the last quarter. Headlands Technologies LLC purchased a new stake in shares of PPG Industries during the first quarter worth about $30,000. Finally, Financial Connections Group Inc. boosted its stake in PPG Industries by 74.6% during the first quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company's stock valued at $38,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PPG shares. 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 note on Wednesday, July 9th. Mizuho increased their price target on PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. 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 note on Tuesday, July 1st. Citigroup raised their price objective on PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, May 12th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $129.82.

PPG Industries Trading Down 0.7%

Shares of NYSE PPG traded down $0.78 during midday trading on Wednesday, hitting $108.81. The company's stock had a trading volume of 402,719 shares, compared to its average volume of 2,020,822. 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 business's 50 day moving average is $112.71 and its two-hundred day moving average is $110.48. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. The firm has a market cap of $24.56 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 2.30 and a beta of 1.14.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, hitting the consensus estimate of $2.22. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The firm had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same period in the prior year, the business posted $2.50 earnings per share. The company'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. As a group, equities research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, August 11th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.6%. The ex-dividend date is Monday, August 11th. This is an increase from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's dividend payout ratio (DPR) is 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.