Rakuten Investment Management Inc. Buys Shares of 154,551 PPG Industries, Inc. $PPG

Rakuten Investment Management Inc. bought a new position in PPG Industries, Inc. (NYSE:PPG) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 154,551 shares of the specialty chemicals company’s stock, valued at approximately $16,245,000.

Other institutional investors have also recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in PPG Industries by 8.6% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 238,337 shares of the specialty chemicals company’s stock worth $25,052,000 after acquiring an additional 18,952 shares during the period. Inscription Capital LLC increased its position in PPG Industries by 38.8% during the 3rd quarter. Inscription Capital LLC now owns 6,026 shares of the specialty chemicals company’s stock valued at $633,000 after purchasing an additional 1,685 shares during the period. Root Financial Partners LLC bought a new stake in shares of PPG Industries in the 3rd quarter valued at about $30,000. Tradewinds LLC. purchased a new stake in shares of PPG Industries in the 3rd quarter worth approximately $338,000. Finally, Allstate Corp bought a new position in shares of PPG Industries during the third quarter valued at approximately $864,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Up 3.2%

Shares of PPG stock opened at $112.45 on Thursday. The stock’s fifty day moving average price is $102.72 and its 200 day moving average price is $105.69. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $124.74. The company has a market cap of $25.23 billion, a price-to-earnings ratio of 25.50, a price-to-earnings-growth ratio of 3.24 and a beta of 1.17. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.08.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.04. PPG Industries had a return on equity of 23.61% and a net margin of 6.35%.The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter last year, the company earned $2.13 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. On average, research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Friday, February 20th will be paid a $0.71 dividend. The ex-dividend date is Friday, February 20th. This represents a $2.84 dividend on an annualized basis and a yield of 2.5%. PPG Industries’s dividend payout ratio (DPR) is 64.40%.

Insiders Place Their Bets

In other PPG Industries news, CFO Vincent J. Morales sold 5,200 shares of the company’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $110.00, for a total transaction of $572,000.00. Following the transaction, the chief financial officer owned 28,439 shares in the company, valued at approximately $3,128,290. This represents a 15.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

PPG has been the subject of a number of analyst reports. Wells Fargo & Company lowered their target price on PPG Industries from $132.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. UBS Group reduced their price target on PPG Industries from $115.00 to $110.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. Citigroup raised their price objective on PPG Industries from $116.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Weiss Ratings reiterated a “hold (c-)” rating on shares of PPG Industries in a research note on Friday, October 31st. Finally, Evercore ISI decreased their price target on shares of PPG Industries from $145.00 to $112.00 and set an “in-line” rating for the company in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, PPG Industries has a consensus rating of “Hold” and an average price target of $120.86.

PPG Industries Profile

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.