SCS Capital Management LLC Takes Position in PPG Industries, Inc. $PPG

Key Points

• SCS Capital Management LLC has acquired a new stake in PPG Industries, Inc., purchasing 4,468 shares valued at approximately $489,000.
• PPG Industries announced an increase in its quarterly dividend to $0.71, which represents an annualized yield of 2.5%.
• Analysts have raised their target prices for PPG Industries, with Wells Fargo & Company setting a new target at $135.00, reflecting a positive outlook for the stock.

SCS Capital Management LLC purchased a new position in PPG Industries, Inc. (NYSE:PPG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,468 shares of the specialty chemicals company's stock, valued at approximately $489,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in shares of PPG Industries by 58.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company's stock worth $524,627,000 after buying an additional 1,766,518 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in PPG Industries in the 1st quarter worth approximately $127,152,000. Pzena Investment Management LLC purchased a new position in PPG Industries in the 1st quarter worth approximately $105,349,000. Nuveen LLC bought a new position in PPG Industries in the 1st quarter valued at approximately $79,881,000. Finally, GAMMA Investing LLC boosted its stake in PPG Industries by 11,737.2% during the 1st quarter. GAMMA Investing LLC now owns 724,553 shares of the specialty chemicals company's stock valued at $79,230,000 after purchasing an additional 718,432 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Stock Performance

Shares of PPG Industries stock traded down $1.04 during trading hours on Friday, reaching $110.79. 1,552,318 shares of the stock traded hands, compared to its average volume of 1,445,080. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $137.24. The firm has a market capitalization of $25.00 billion, a price-to-earnings ratio of 25.12, a P/E/G ratio of 2.29 and a beta of 1.14. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76. The company has a 50 day moving average price of $111.78 and a 200 day moving average price of $110.14.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, hitting the consensus estimate of $2.22. The firm had revenue of $4.20 billion for the quarter, compared to analysts' expectations of $4.16 billion. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The business's quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.50 EPS. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, equities research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, August 11th were paid a dividend of $0.71 per share. The ex-dividend date was Monday, August 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.6%. This is a boost from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's dividend payout ratio is 64.40%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PPG. Wells Fargo & Company boosted their price target on PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. UBS Group boosted their target price on 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 upped their target price on shares of PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a research note on Friday, August 1st. Mizuho raised 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. Finally, Citigroup boosted their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.