Raymond James Financial Inc. Acquires 24,588 Shares of PPG Industries, Inc. $PPG

Key Points

• Raymond James Financial Inc. increased its stake in PPG Industries by 3.6% in the first quarter, owning approximately 0.31% of the company worth $77.8 million after acquiring additional shares.
• In recent analyst reports, Mizuho raised its price target on PPG Industries from $125.00 to $135.00, while JPMorgan Chase decreased their target from $115.00 to $105.00, indicating varying perspectives on the stock's performance.
• PPG Industries announced a quarterly dividend increase to $0.71 per share from the previous $0.68, reflecting a positive financial outlook with a current dividend yield of 2.5%.

Raymond James Financial Inc. boosted its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 3.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 711,658 shares of the specialty chemicals company's stock after buying an additional 24,588 shares during the period. Raymond James Financial Inc. owned 0.31% of PPG Industries worth $77,820,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PPG. Kovitz Investment Group Partners LLC lifted its holdings in shares of PPG Industries by 482.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,337,649 shares of the specialty chemicals company's stock valued at $518,132,000 after purchasing an additional 3,592,655 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of PPG Industries by 815.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,031,164 shares of the specialty chemicals company's stock valued at $362,074,000 after purchasing an additional 2,700,018 shares during the last quarter. Pzena Investment Management LLC purchased a new position in shares of PPG Industries during the first quarter valued at approximately $105,349,000. Nuveen LLC purchased a new position in shares of PPG Industries during the first quarter valued at approximately $79,881,000. Finally, GAMMA Investing LLC lifted its holdings in shares of PPG Industries by 11,737.2% during the first quarter. GAMMA Investing LLC now owns 724,553 shares of the specialty chemicals company's stock valued at $79,230,000 after purchasing an additional 718,432 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Price Performance

Shares of PPG traded up $2.4830 during trading hours on Friday, reaching $114.0530. 1,594,262 shares of the stock traded hands, compared to its average volume of 1,999,375. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $137.24. The company's 50-day moving average price is $112.46 and its two-hundred day moving average price is $110.69. The company has a market cap of $25.74 billion, a P/E ratio of 25.86, a price-to-earnings-growth ratio of 2.36 and a beta of 1.17.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results 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 company had revenue of $4.20 billion for the quarter, compared to analysts' expectations of $4.16 billion. During the same quarter in the previous year, the company earned $2.50 EPS. PPG Industries'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 anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, August 11th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.5%. 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 is presently 64.40%.

Analyst Ratings Changes

PPG has been the subject of several analyst reports. UBS Group raised their price target on shares of PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. Royal Bank Of Canada lifted their target price on shares of PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. JPMorgan Chase & Co. cut their target price on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Finally, Wells Fargo & Company lifted their target price on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, PPG Industries presently has a consensus rating of "Moderate Buy" and a consensus price target 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.