PPG Industries, Inc. $PPG Shares Acquired by Swedbank AB

Key Points

• Swedbank AB increased its stake in PPG Industries, now owning approximately 0.07% valued at $17.28 million after acquiring additional shares in the first quarter.
• PPG Industries reported $2.22 EPS for the last quarter, meeting expectations, and has set a FY 2025 guidance range of 7.750-8.050 EPS.
• The company recently raised its quarterly dividend from $0.68 to $0.71 per share, providing a 2.6% yield for investors.

Swedbank AB lifted its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 2.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 158,022 shares of the specialty chemicals company's stock after purchasing an additional 3,612 shares during the quarter. Swedbank AB owned about 0.07% of PPG Industries worth $17,280,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. increased its position in PPG Industries by 0.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 249,755 shares of the specialty chemicals company's stock valued at $27,311,000 after acquiring an additional 1,697 shares during the period. Clear Creek Financial Management LLC acquired a new position in shares of PPG Industries in the 1st quarter worth $240,000. Principal Financial Group Inc. grew its holdings in shares of PPG Industries by 4.4% in the 1st quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company's stock worth $33,129,000 after acquiring an additional 12,650 shares during the last quarter. Meridian Wealth Management LLC grew its holdings in shares of PPG Industries by 311.2% in the 1st quarter. Meridian Wealth Management LLC now owns 7,665 shares of the specialty chemicals company's stock worth $838,000 after acquiring an additional 5,801 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its position in shares of PPG Industries by 966.3% in the first quarter. Golden State Wealth Management LLC now owns 885 shares of the specialty chemicals company's stock worth $97,000 after buying an additional 802 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Trading Down 0.9%

Shares of PPG opened at $110.79 on Monday. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. 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 firm has a market capitalization of $25.00 billion, a price-to-earnings ratio of 25.12, a P/E/G ratio of 2.29 and a beta of 1.14. The stock's 50-day moving average price is $111.78 and its 200 day moving average price is $110.11.

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 (EPS) for the quarter, meeting 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 analyst estimates of $4.16 billion. During the same period in the previous year, the company posted $2.50 earnings per share. The company's quarterly 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. As a group, research analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current 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 paid a dividend of $0.71 per share. This is a positive change from PPG Industries's previous quarterly dividend of $0.68. This represents a $2.84 annualized dividend and a yield of 2.6%. The ex-dividend date was Monday, August 11th. PPG Industries's dividend payout ratio is presently 64.40%.

Analyst Upgrades and Downgrades

PPG has been the subject of several recent analyst reports. Citigroup raised their target price on PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Wells Fargo & Company lifted their price objective 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 lifted their price objective 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 boosted their price target on PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. Finally, UBS Group boosted their price target on PPG Industries from $111.00 to $125.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. One research 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 company. Based on data from MarketBeat, PPG Industries 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.

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