Price T Rowe Associates Inc. MD Acquires 1,766,518 Shares of PPG Industries, Inc. $PPG

Key Points

• Price T Rowe Associates Inc. MD increased its stake in PPG Industries by 58.3%, acquiring an additional 1,766,518 shares, bringing its total ownership to approximately 4.8 million shares valued at $524.6 million.
• Several large investors, including Capital Fund Management and Wellington Management Group, have also raised their holdings in PPG Industries, contributing to institutional investors owning 81.86% of the company's stock.
• PPG Industries recently announced a dividend increase to $0.71 per share, reflecting a 3.4% rise from its previous dividend, with a total annualized yield of 2.5%.

Price T Rowe Associates Inc. MD raised its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 58.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 4,797,682 shares of the specialty chemicals company's stock after purchasing an additional 1,766,518 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 2.11% of PPG Industries worth $524,627,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PPG. Park Square Financial Group LLC acquired a new stake in PPG Industries during the 4th quarter valued at approximately $26,000. Cheviot Value Management LLC acquired a new stake in PPG Industries during the 1st quarter valued at approximately $26,000. CVA Family Office LLC increased its position in PPG Industries by 70.6% during the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock valued at $30,000 after purchasing an additional 113 shares during the period. Headlands Technologies LLC acquired a new stake in PPG Industries during the 1st quarter valued at approximately $30,000. Finally, Financial Connections Group Inc. increased its position in PPG Industries by 74.6% during the 1st quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company's stock valued at $38,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Price Performance

NYSE:PPG traded down $2.0910 during mid-day trading on Monday, reaching $112.1790. The stock had a trading volume of 1,161,618 shares, compared to its average volume of 2,015,079. 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, Inc. has a one year low of $90.24 and a one year high of $137.24. The firm has a 50 day moving average price of $112.53 and a two-hundred day moving average price of $110.63. The stock has a market capitalization of $25.32 billion, a P/E ratio of 25.44, a P/E/G ratio of 2.36 and a beta of 1.17.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Citigroup boosted their target price on shares of PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, June 13th. JPMorgan Chase & Co. cut their target price on PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Fermium Researc upgraded PPG Industries to a "strong-buy" rating in a research note on Thursday, May 1st. Deutsche Bank Aktiengesellschaft raised their price objective on PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Finally, Mizuho lifted their target price on PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.