Public Sector Pension Investment Board Has $3.46 Million Holdings in PPG Industries, Inc. $PPG

Key Points

• The Public Sector Pension Investment Board reduced its stake in PPG Industries by 78.3%, ending the first quarter with 31,603 shares valued at approximately $3.46 million.
• PPG Industries increased its quarterly dividend to $0.71 per share, up from $0.68, reflecting an annual yield of 2.6%.
• The stock is currently rated a "Moderate Buy" by analysts, with an average price target of $129.82.

Public Sector Pension Investment Board lowered its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 78.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,603 shares of the specialty chemicals company's stock after selling 113,864 shares during the period. Public Sector Pension Investment Board's holdings in PPG Industries were worth $3,456,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Park Square Financial Group LLC acquired a new stake in shares of PPG Industries during the fourth quarter worth approximately $26,000. Cheviot Value Management LLC acquired a new stake in shares of PPG Industries during the first quarter worth approximately $26,000. CVA Family Office LLC grew its position in shares of PPG Industries by 70.6% during the first quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock worth $30,000 after buying an additional 113 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of PPG Industries during the first quarter worth approximately $30,000. Finally, Financial Connections Group Inc. grew its position in shares of PPG Industries by 74.6% during the first quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company's stock worth $38,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

PPG Industries Price Performance

PPG Industries stock traded up $2.4830 during midday trading on Friday, hitting $114.0530. The company's stock had a trading volume of 1,594,262 shares, compared to its average volume of 1,999,375. The stock's 50-day moving average price is $112.46 and its 200-day moving average price is $110.69. The company has a market capitalization of $25.74 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 2.36 and a beta of 1.17. 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.

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 for the quarter, hitting analysts' consensus estimates of $2.22. The firm had revenue of $4.20 billion for the quarter, compared to analysts' expectations of $4.16 billion. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.PPG Industries's revenue 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. Analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 11th will be issued a $0.71 dividend. This is an increase 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 is presently 64.40%.

Analyst Ratings Changes

A number of research firms have recently weighed in on PPG. JPMorgan Chase & Co. decreased their price target on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Citigroup lifted their price objective on shares of PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, June 13th. 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 report on Friday, August 1st. Fermium Researc raised shares of PPG Industries to a "strong-buy" rating in a report on Thursday, May 1st. Finally, 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 report 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.