Stoneridge Investment Partners LLC Cuts Holdings in PPG Industries, Inc. $PPG

Key Points

• Stoneridge Investment Partners LLC reduced its holdings in PPG Industries by 66.2% in the first quarter, owning 2,682 shares valued at $293,000 after selling 5,259 shares.
• PPG Industries reported a quarterly earnings per share of $2.22, aligning with analysts' expectations, despite a 0.9% decline in revenue compared to the previous year.
• The company announced an increased quarterly dividend of $0.71 per share, up from $0.68, reflecting a 2.5% dividend yield and a payout ratio of 64.40%.

Stoneridge Investment Partners LLC trimmed its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 66.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,682 shares of the specialty chemicals company's stock after selling 5,259 shares during the quarter. Stoneridge Investment Partners LLC's holdings in PPG Industries were worth $293,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP boosted its stake in PPG Industries by 5.6% in the first 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 acquiring an additional 592,152 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its stake in PPG Industries by 482.2% in 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 acquiring an additional 3,592,655 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in PPG Industries by 815.4% in 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 acquiring an additional 2,700,018 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in 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. Finally, Charles Schwab Investment Management Inc. boosted its stake in PPG Industries by 3.2% in 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 in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Performance

NYSE PPG traded down $1.98 on Monday, reaching $112.29. 318,403 shares of the company's stock traded hands, compared to its average volume of 2,049,114. The firm has a market cap of $25.34 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 2.36 and a beta of 1.17. The stock has a 50 day moving average price of $112.46 and a 200-day moving average price of $110.65. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $137.24. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42.

PPG Industries (NYSE:PPG - Get Free Report) last posted its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $4.16 billion. During the same period in the previous year, the firm posted $2.50 earnings per share. The firm's quarterly revenue was down .9% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Equities research analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal 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 $0.71 dividend. The ex-dividend date of this dividend is Monday, August 11th. This is a positive change from PPG Industries's previous quarterly dividend of $0.68. This represents a $2.84 dividend on an annualized basis and a yield of 2.5%. PPG Industries's dividend payout ratio is presently 64.40%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PPG. Mizuho lifted their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of PPG Industries from $125.00 to $140.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Royal Bank Of Canada lifted their price objective on shares of PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a research note on Friday, August 1st. Fermium Researc upgraded shares of PPG Industries to a "strong-buy" rating in a research note on Thursday, May 1st. Finally, UBS Group lifted their price objective on shares of PPG Industries from $111.00 to $125.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 9th. 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $129.82.

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.