Swedbank AB Acquires 32,827 Shares of PPG Industries, Inc. $PPG

Key Points

• Swedbank AB has increased its stake in PPG Industries by 20.8%, acquiring an additional 32,827 shares, leading to a total of 190,849 shares valued at approximately $21.7 million.
• Analysts have raised their price targets for PPG Industries, with Citigroup increasing its target from $125 to $130, indicating a positive outlook for the company's stock.
• The company recently declared a quarterly dividend of $0.71, representing a yield of 2.6%, marking an increase from the previous dividend of $0.68.

Swedbank AB increased its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 20.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 190,849 shares of the specialty chemicals company's stock after purchasing an additional 32,827 shares during the quarter. Swedbank AB owned approximately 0.08% of PPG Industries worth $21,709,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Park Square Financial Group LLC purchased a new position in shares of PPG Industries in the 4th quarter valued at approximately $26,000. Cheviot Value Management LLC purchased a new position in PPG Industries during the first quarter valued at $26,000. Headlands Technologies LLC purchased a new position in PPG Industries during the first quarter valued at $30,000. CVA Family Office LLC raised its stake in PPG Industries by 70.6% during the first quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock valued at $30,000 after buying an additional 113 shares during the last quarter. Finally, Financial Connections Group Inc. raised its stake in PPG Industries by 74.6% during the first quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company's stock valued at $38,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PPG. Citigroup lifted their price objective on PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, June 13th. Royal Bank Of Canada lifted their price objective on 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 boosted their price target on PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. UBS Group boosted their price target on PPG Industries from $111.00 to $125.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 9th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $129.82.

PPG Industries Trading Up 0.4%

Shares of NYSE PPG opened at $109.48 on Friday. 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 business has a fifty day simple moving average of $110.92 and a two-hundred day simple moving average of $110.02. The firm has a market cap of $24.71 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 2.26 and a beta of 1.14. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) last issued its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, meeting analysts' consensus estimates of $2.22. The business had revenue of $4.20 billion during 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%.PPG Industries's revenue was down .9% on a year-over-year basis. During the same period in the previous year, the company posted $2.50 EPS. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

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

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