5,760 Shares in PPG Industries, Inc. $PPG Bought by United Services Automobile Association

Key Points

• United Services Automobile Association has invested approximately $619,000 in PPG Industries, Inc., acquiring 5,760 shares in the first quarter.
• PPG Industries recently reported earnings of $2.22 per share for the quarter, meeting the consensus estimate, with revenues of $4.20 billion.
• The company has increased its quarterly dividend from $0.68 to $0.71 per share, reflecting a dividend yield of 2.6%.

United Services Automobile Association acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,760 shares of the specialty chemicals company's stock, valued at approximately $619,000.

A number of other institutional investors also recently made changes to their positions in PPG. Park Square Financial Group LLC bought a new position in shares of PPG Industries during the fourth quarter worth approximately $26,000. Cheviot Value Management LLC bought a new position in PPG Industries during the 1st quarter worth $26,000. CVA Family Office LLC increased its position in PPG Industries by 70.6% during the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock worth $30,000 after buying an additional 113 shares during the period. Headlands Technologies LLC acquired a new stake in shares of PPG Industries during the first quarter worth $30,000. Finally, Financial Connections Group Inc. boosted its position in shares of PPG Industries by 74.6% in the first quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company's stock valued at $38,000 after acquiring an additional 150 shares during the period. Institutional investors own 81.86% of the company's stock.

Analysts Set New Price Targets

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

PPG Industries Price Performance

PPG traded down $1.04 on Friday, reaching $110.79. The stock had a trading volume of 1,552,318 shares, compared to its average volume of 1,437,477. The firm has a 50-day moving average of $111.78 and a 200-day moving average of $110.17. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $137.24. The company has a market capitalization of $25.00 billion, a price-to-earnings ratio of 25.12, a price-to-earnings-growth ratio of 2.31 and a beta of 1.14. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76.

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 (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 analyst estimates of $4.16 billion. During the same quarter last year, the business earned $2.50 EPS. The firm's quarterly revenue was down .9% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. As a group, sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Increases Dividend

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