Vident Advisory LLC Acquires 30,086 Shares of PPG Industries, Inc. $PPG

Key Points

• Vident Advisory LLC increased its holdings in PPG Industries by 669.3%, acquiring 30,086 additional shares, which brought their total ownership to 34,581 shares valued at approximately $3.78 million.
• Several investment firms, including Wellington Management and Price T Rowe Associates, also expanded their stakes in PPG Industries, highlighting a trend of increasing institutional interest in the company.
• PPG Industries recently announced a dividend increase to $0.71 per share, up from $0.68, reflecting a commitment to returning value to shareholders amidst a backdrop of fluctuating earnings and a shifting market landscape.

Vident Advisory LLC grew its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 669.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,581 shares of the specialty chemicals company's stock after purchasing an additional 30,086 shares during the quarter. Vident Advisory LLC's holdings in PPG Industries were worth $3,781,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of PPG. Magnetar Financial LLC bought a new stake in shares of PPG Industries during the 1st quarter worth about $5,660,000. Landscape Capital Management L.L.C. bought a new stake in PPG Industries during the first quarter worth approximately $1,303,000. Earnest Partners LLC grew its holdings in PPG Industries by 31.0% during the first quarter. Earnest Partners LLC now owns 12,672 shares of the specialty chemicals company's stock valued at $1,386,000 after purchasing an additional 2,999 shares during the last quarter. Eisler Capital Management Ltd. bought a new position in shares of PPG Industries in the first quarter valued at approximately $275,000. Finally, Ceredex Value Advisors LLC boosted its holdings in shares of PPG Industries by 87.3% during the 1st quarter. Ceredex Value Advisors LLC now owns 581,345 shares of the specialty chemicals company's stock worth $63,570,000 after buying an additional 271,045 shares during the period. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Price Performance

Shares of NYSE PPG traded up $0.27 during midday trading on Thursday, reaching $109.46. 846,585 shares of the company traded hands, compared to its average volume of 2,018,027. The stock's 50-day simple moving average is $112.62 and its 200-day simple moving average is $110.47. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24. The firm has a market cap of $24.70 billion, a PE ratio of 24.81, a PEG ratio of 2.30 and a beta of 1.14.

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

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, August 11th will be given a dividend of $0.71 per share. The ex-dividend date is Monday, August 11th. This is a positive change from PPG Industries's previous quarterly dividend of $0.68. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.6%. PPG Industries's dividend payout ratio (DPR) is currently 64.40%.

Analyst Ratings Changes

PPG has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted 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. Royal Bank Of Canada raised 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. Deutsche Bank Aktiengesellschaft increased their price target on shares of PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a report on Monday, May 12th. Mizuho upped their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Finally, UBS Group lifted 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. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $129.82.

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.