Quantitative Investment Management LLC Invests $313,000 in PPG Industries, Inc. $PPG

Key Points

• Quantitative Investment Management LLC invested approximately $313,000 in PPG Industries, acquiring 2,868 shares during the first quarter.
• PPG Industries announced a quarterly dividend increase to $0.71 per share, reflecting a 2.5% yield, set to be paid on September 12th.
• Analysts have generally rated PPG Industries positively, with a consensus rating of "Moderate Buy" and a target price of $129.82.

Quantitative Investment Management LLC purchased a new position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,868 shares of the specialty chemicals company's stock, valued at approximately $313,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new position in PPG Industries during the 4th quarter worth approximately $26,000. Cheviot Value Management LLC purchased a new position in shares of PPG Industries during the first quarter worth approximately $26,000. Headlands Technologies LLC purchased a new position in shares of PPG Industries during the first quarter worth approximately $30,000. 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 acquiring an additional 113 shares during the last quarter. 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 acquiring an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

Analyst Ratings Changes

PPG has been the topic of a number of research reports. Mizuho raised their target price on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. UBS Group raised their target price on shares of PPG Industries from $111.00 to $125.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. Wells Fargo & Company raised their target price on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Citigroup raised their target price on shares of PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. Finally, Fermium Researc upgraded PPG Industries to a "strong-buy" rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, PPG Industries has a consensus rating of "Moderate Buy" and a consensus target price of $129.82.

PPG Industries Stock Down 1.8%

PPG Industries stock opened at $112.1790 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.04. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $137.24. The company has a market cap of $25.32 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 2.36 and a beta of 1.17. The stock's 50 day moving average price is $112.53 and its 200 day moving average price is $110.63.

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 for the quarter, meeting analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $4.16 billion. During the same period in the previous year, the business earned $2.50 earnings per share. The company's revenue for the quarter was down .9% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, sell-side 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. Investors of record on Monday, August 11th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, August 11th. This is an increase from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's dividend payout ratio (DPR) is 64.40%.

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.

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