Swedbank AB Buys 3,612 Shares of PPG Industries, Inc. $PPG

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 increased its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. 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 approximately 0.07% of PPG Industries worth $17,280,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in shares of PPG Industries by 5.6% in the 1st quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company's stock valued at $1,220,259,000 after purchasing an additional 592,152 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of PPG Industries by 58.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company's stock valued at $524,627,000 after purchasing an additional 1,766,518 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of PPG Industries by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,937,274 shares of the specialty chemicals company's stock valued at $321,147,000 after purchasing an additional 105,973 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of PPG Industries by 3.2% in the 1st 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 purchasing an additional 85,891 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of PPG Industries by 2.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,174,762 shares of the specialty chemicals company's stock valued at $237,810,000 after purchasing an additional 60,301 shares during the period. 81.86% of the stock is owned by institutional investors.

PPG Industries Price Performance

Shares of NYSE PPG traded up $0.46 during trading hours on Friday, hitting $109.48. 3,617,791 shares of the stock were exchanged, compared to its average volume of 1,480,766. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42. The company has a market cap of $24.71 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 2.25 and a beta of 1.14. The company's fifty day simple moving average is $110.92 and its two-hundred day simple moving average is $110.05. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.22. The business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.16 billion. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The firm's revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the business posted $2.50 EPS. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, sell-side analysts predict that PPG Industries, Inc. will post 7.95 EPS 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 given a dividend of $0.71 per share. The ex-dividend date was Monday, August 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.6%. This is a positive change from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's dividend payout ratio (DPR) is 64.40%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PPG. Wells Fargo & Company increased their price target on shares of PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. UBS Group increased their price target on shares of PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Mizuho increased their price target on shares of PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Citigroup increased their price target on shares of PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a report on Friday, June 13th. Finally, Royal Bank Of Canada increased their price target on shares of PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a report on Friday, August 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average 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.