PPG Industries, Inc. $PPG Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in PPG Industries, Inc. by 16.6% in the first quarter, now holding approximately 149,110 shares valued at $16.25 million.
• Despite a decrease in year-over-year revenue, PPG reported earnings of $2.22 per share, matching analyst expectations and indicating a net margin of 6.25%.
• PPG Industries announced a quarterly dividend increase to $0.71 per share, representing a yield of 2.5% and a payout ratio of 64.40%.

Russell Investments Group Ltd. cut its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 16.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,110 shares of the specialty chemicals company's stock after selling 29,611 shares during the period. Russell Investments Group Ltd. owned about 0.07% of PPG Industries worth $16,246,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC boosted its holdings in PPG Industries by 9.1% in the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company's stock valued at $487,000 after purchasing an additional 339 shares during the period. Mariner LLC grew its position in shares of PPG Industries by 2.5% during the fourth quarter. Mariner LLC now owns 69,540 shares of the specialty chemicals company's stock worth $8,307,000 after buying an additional 1,680 shares in the last quarter. Jump Financial LLC increased its stake in shares of PPG Industries by 40.8% during the fourth quarter. Jump Financial LLC now owns 5,612 shares of the specialty chemicals company's stock worth $670,000 after buying an additional 1,626 shares during the period. United Capital Financial Advisors LLC raised its holdings in PPG Industries by 11.5% in the fourth quarter. United Capital Financial Advisors LLC now owns 8,192 shares of the specialty chemicals company's stock valued at $979,000 after acquiring an additional 845 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in PPG Industries by 8.5% in the fourth quarter. NewEdge Advisors LLC now owns 18,380 shares of the specialty chemicals company's stock worth $2,195,000 after acquiring an additional 1,440 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Stock Performance

PPG stock traded down $0.8790 on Wednesday, hitting $111.9810. The company's stock had a trading volume of 1,091,508 shares, compared to its average volume of 2,068,319. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $137.24. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76. The stock has a market cap of $25.27 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 2.29 and a beta of 1.17. The firm has a 50 day moving average of $112.34 and a two-hundred day moving average of $110.68.

PPG Industries (NYSE:PPG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, meeting 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 analysts' expectations of $4.16 billion. During the same period in the prior year, the company earned $2.50 earnings per share. The business'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. Equities analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 11th will be issued a dividend of $0.71 per share. This is a boost from PPG Industries's previous quarterly dividend of $0.68. This represents a $2.84 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, August 11th. PPG Industries's dividend payout ratio is 64.40%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. UBS Group lifted their price objective 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. Royal Bank Of Canada increased their price objective on PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a report on Friday, August 1st. Mizuho boosted 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. Deutsche Bank Aktiengesellschaft upped their price target on PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a report on Monday, May 12th. Finally, Fermium Researc raised shares of PPG Industries to a "strong-buy" rating in a report on Thursday, May 1st. One 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.