PPG Industries, Inc. $PPG Shares Sold by Quarry LP

Key Points

• The institutional investor Quarry LP reduced its holdings in PPG Industries by 61.9%, selling 11,622 shares and retaining 7,165 shares, valued at approximately $783,000.
• Recently, PPG Industries declared a quarterly dividend of $0.71 per share, an increase from the previous $0.68, indicating a yearly yield of 2.6%.
• Analysts have adjusted their price targets for PPG Industries, with notable upgrades from Wells Fargo and UBS, raising targets to $135.00 and $125.00 respectively, reflecting positive sentiment around the stock.

Quarry LP trimmed its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 61.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,165 shares of the specialty chemicals company's stock after selling 11,622 shares during the quarter. Quarry LP's holdings in PPG Industries were worth $783,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PPG. Park Square Financial Group LLC bought a new position in shares of PPG Industries during the 4th quarter worth $26,000. Cheviot Value Management LLC bought a new stake in shares of PPG Industries in the 1st quarter worth approximately $26,000. CVA Family Office LLC increased its holdings in shares of PPG Industries by 70.6% in 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 during the period. Headlands Technologies LLC purchased a new stake in shares of PPG Industries during the first quarter valued at approximately $30,000. Finally, Financial Connections Group Inc. grew its holdings in PPG Industries by 74.6% in the 1st 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. Institutional investors own 81.86% of the company's stock.

PPG Industries Trading Down 0.5%

PPG stock traded down $0.59 during trading on Wednesday, hitting $109.00. The company had a trading volume of 1,160,996 shares, compared to its average volume of 1,364,255. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $137.24. The firm has a market capitalization of $24.60 billion, a P/E ratio of 14.48, a PEG ratio of 2.30 and a beta of 1.14. The company has a 50 day simple moving average of $112.71 and a 200-day simple moving average of $110.48. 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 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. 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 analyst estimates of $4.16 billion. During the same period in the previous year, the company posted $2.50 EPS. The business'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. As a group, research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, August 11th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.6%. 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 is currently 64.40%.

Wall Street Analysts Forecast Growth

PPG has been the topic of several research reports. Citigroup lifted their price target on PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, June 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a report on Monday, May 12th. UBS Group upped their price target on shares of PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. 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 report on Tuesday, July 1st. Finally, Royal Bank Of Canada raised their price objective on shares of PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. One investment 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 company. Based on data from MarketBeat.com, the company 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.