Stoneridge Investment Partners LLC Reduces Stock Position 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 lowered its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 66.2% during the 1st quarter, according to its most recent disclosure 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 filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Envestnet Asset Management Inc. raised its stake in shares of PPG Industries by 0.7% in the first quarter. Envestnet Asset Management Inc. now owns 249,755 shares of the specialty chemicals company's stock worth $27,311,000 after buying an additional 1,697 shares during the period. Clear Creek Financial Management LLC bought a new stake in PPG Industries during the 1st quarter valued at approximately $240,000. Principal Financial Group Inc. raised its stake in PPG Industries by 4.4% during the 1st quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company's stock valued at $33,129,000 after purchasing an additional 12,650 shares during the period. Meridian Wealth Management LLC raised its stake in PPG Industries by 311.2% during the 1st quarter. Meridian Wealth Management LLC now owns 7,665 shares of the specialty chemicals company's stock valued at $838,000 after purchasing an additional 5,801 shares during the period. Finally, Golden State Wealth Management LLC raised its stake in PPG Industries by 966.3% during the 1st quarter. Golden State Wealth Management LLC now owns 885 shares of the specialty chemicals company's stock valued at $97,000 after purchasing an additional 802 shares during the period. Institutional investors own 81.86% of the company's stock.

PPG Industries Stock Up 2.2%

NYSE PPG traded up $2.4830 on Friday, reaching $114.0530. 1,594,262 shares of the stock traded hands, compared to its average volume of 1,999,375. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24. The company has a market cap of $25.74 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 2.31 and a beta of 1.17. The company has a fifty day moving average price of $112.46 and a 200-day moving average price of $110.70. 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 released its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, hitting the consensus estimate of $2.22. The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.16 billion. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The business's revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.50 EPS. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. As a group, research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 11th will be paid a dividend of $0.71 per share. This is a positive change from PPG Industries's previous quarterly dividend of $0.68. The ex-dividend date is Monday, August 11th. This represents a $2.84 annualized dividend and a yield of 2.5%. PPG Industries's dividend payout ratio (DPR) is presently 64.40%.

Wall Street Analysts Forecast Growth

PPG has been the topic of several recent analyst reports. Citigroup lifted their target price on PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Fermium Researc raised PPG Industries to a "strong-buy" rating in a research note on Thursday, May 1st. Wells Fargo & Company lifted their target price on PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. cut their price target on PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Finally, Deutsche Bank Aktiengesellschaft raised their price target on PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a report on Monday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company 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.