4,468 Shares in PPG Industries, Inc. $PPG Purchased by SCS Capital Management LLC

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 bought a new position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,468 shares of the specialty chemicals company's stock, valued at approximately $489,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Park Square Financial Group LLC acquired a new stake in PPG Industries during the 4th quarter worth approximately $26,000. Cheviot Value Management LLC purchased a new position in PPG Industries in the 1st quarter worth approximately $26,000. CVA Family Office LLC boosted its holdings in PPG Industries by 70.6% in the 1st 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 period. Headlands Technologies LLC purchased a new position in PPG Industries in the 1st quarter worth approximately $30,000. Finally, Financial Connections Group Inc. boosted 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 period. Institutional investors and hedge funds own 81.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PPG shares. Royal Bank Of Canada upped their price target on PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. Citigroup upped their price target on PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, June 13th. Mizuho increased their target price on PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. UBS Group increased their target price on PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Finally, Wells Fargo & Company upped their price target on PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $129.82.

PPG Industries Stock Performance

Shares of PPG traded up $1.03 during trading hours on Wednesday, reaching $109.39. 253,731 shares of the company's stock traded hands, compared to its average volume of 2,003,364. The firm has a market capitalization of $24.69 billion, a price-to-earnings ratio of 24.81, a P/E/G ratio of 2.26 and a beta of 1.14. 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 twelve month low of $90.24 and a twelve month high of $137.24. The business's fifty day simple moving average is $111.48 and its two-hundred day simple moving average is $110.08.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, meeting analysts' consensus estimates of $2.22. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.16 billion. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The company's quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the company earned $2.50 earnings per share. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current 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 issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.6%. This is a positive change from PPG Industries's previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Monday, August 11th. PPG Industries's dividend payout ratio is 64.40%.

PPG Industries Company 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.