Quantbot Technologies LP Takes Position in PPG Industries, Inc. $PPG

Key Points

• Quantbot Technologies LP invested approximately $4.22 million in PPG Industries, acquiring 38,602 shares of the specialty chemicals company during the first quarter.
• PPG Industries reported a quarterly earnings per share (EPS) of $2.22, meeting analysts' expectations, and had revenue of $4.20 billion for the quarter.
• The company recently increased its quarterly dividend to $0.71 per share, representing a 2.5% yield and a positive change from its previous dividend of $0.68.

Quantbot Technologies LP purchased a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 38,602 shares of the specialty chemicals company's stock, valued at approximately $4,221,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of PPG. Kovitz Investment Group Partners LLC lifted its holdings in PPG Industries by 482.2% in the 4th 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 during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in PPG Industries by 815.4% in the 4th 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 during the last quarter. Pzena Investment Management LLC acquired a new stake in PPG Industries in the 1st quarter valued at about $105,349,000. Nuveen LLC acquired a new stake in PPG Industries in the 1st quarter valued at about $79,881,000. Finally, GAMMA Investing LLC lifted its holdings in PPG Industries by 11,737.2% in the 1st quarter. GAMMA Investing LLC now owns 724,553 shares of the specialty chemicals company's stock valued at $79,230,000 after acquiring an additional 718,432 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company upped their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a research note on Tuesday, July 1st. Fermium Researc raised shares of PPG Industries to a "strong-buy" rating in a research note on Thursday, May 1st. Mizuho upped their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a research note on Monday, May 12th. 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 MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $129.82.

PPG Industries Stock Down 1.4%

Shares of NYSE PPG traded down $1.6470 during mid-day trading on Monday, reaching $112.6230. The company had a trading volume of 194,722 shares, compared to its average volume of 2,048,339. The stock has a fifty day moving average of $112.46 and a two-hundred day moving average of $110.65. 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 capitalization of $25.42 billion, a price-to-earnings ratio of 25.54, a PEG 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.

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 analysts' consensus estimates of $2.22. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The business had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same period in the prior year, the firm earned $2.50 earnings per share. The firm's revenue was down .9% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. As a group, equities research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Increases Dividend

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

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.