Sciencast Management LP Makes New $3.61 Million Investment in PPG Industries, Inc. $PPG

Key Points

• Sciencast Management LP invested approximately $3.61 million in PPG Industries, acquiring 33,029 shares, which now make up 0.8% of their holdings.
• PPG Industries reported earnings of $2.22 per share for the last quarter, matching analyst expectations, despite a 0.9% decline in revenue compared to the prior year.
• The company recently declared a quarterly dividend of $0.71 per share, reflecting a positive increase from the previous $0.68, and establishing a 2.6% dividend yield.

Sciencast Management LP bought a new position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 33,029 shares of the specialty chemicals company's stock, valued at approximately $3,612,000. PPG Industries accounts for about 0.8% of Sciencast Management LP's holdings, making the stock its 12th largest position.

A number of other large investors also recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of PPG Industries by 5.6% in the 1st quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company's stock valued at $1,220,259,000 after purchasing an additional 592,152 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of PPG Industries by 58.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company's stock valued at $524,627,000 after buying an additional 1,766,518 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in PPG Industries by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,937,274 shares of the specialty chemicals company's stock worth $321,147,000 after purchasing an additional 105,973 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of PPG Industries by 3.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,734,270 shares of the specialty chemicals company's stock worth $298,992,000 after acquiring an additional 85,891 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of PPG Industries by 12.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,114,461 shares of the specialty chemicals company's stock worth $252,572,000 after acquiring an additional 237,291 shares during the period. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. 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 note on Wednesday, July 9th. Citigroup increased their price target on shares of PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a report on Friday, June 13th. Mizuho increased their price target on shares of PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Wells Fargo & Company increased their price target on shares of PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Finally, Royal Bank Of Canada increased their price target on shares of PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a report on Friday, August 1st. One equities research 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $129.82.

PPG Industries Price Performance

NYSE:PPG traded down $1.04 during mid-day trading on Friday, hitting $110.79. 1,552,318 shares of the company's stock traded hands, compared to its average volume of 1,437,477. 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 firm's 50 day simple moving average is $111.78 and its 200 day simple moving average is $110.17. 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 $25.00 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 2.31 and a beta of 1.14.

PPG Industries (NYSE:PPG - Get Free Report) last posted its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, meeting the consensus estimate of $2.22. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The firm had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.16 billion. During the same period last year, the firm posted $2.50 EPS. The firm's revenue for the quarter was down .9% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Sell-side analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Monday, August 11th were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.6%. This is an increase from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's dividend payout ratio is 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.