Armstrong Fleming & Moore Inc Acquires Shares of 1,843 PPG Industries, Inc. $PPG

Armstrong Fleming & Moore Inc acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,843 shares of the specialty chemicals company’s stock, valued at approximately $210,000.

Other institutional investors have also recently made changes to their positions in the company. Cheviot Value Management LLC bought a new stake in shares of PPG Industries in the 1st quarter worth about $26,000. CVA Family Office LLC lifted its holdings in shares of 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 last quarter. Headlands Technologies LLC bought a new stake in shares of PPG Industries in the 1st quarter worth about $30,000. Financial Connections Group Inc. lifted its holdings in shares of 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 last quarter. Finally, Bell Investment Advisors Inc lifted its holdings in shares of PPG Industries by 40.9% in the 1st quarter. Bell Investment Advisors Inc now owns 355 shares of the specialty chemicals company’s stock worth $39,000 after acquiring an additional 103 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Down 0.2%

NYSE PPG opened at $101.49 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42. The company has a market capitalization of $22.91 billion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 2.11 and a beta of 1.16. The company’s 50-day simple moving average is $108.30 and its two-hundred day simple moving average is $109.26. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $132.18.

PPG Industries (NYSE:PPG) last posted its 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 business had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.16 billion. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the firm posted $2.50 EPS. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Equities analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Increases Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, August 11th. This is an increase from PPG Industries’s previous quarterly dividend of $0.68. PPG Industries’s payout ratio is presently 64.40%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Citigroup lowered their target price on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating for the company in a report on Monday. Mizuho decreased their price objective on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. Wells Fargo & Company lifted their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of PPG Industries in a report on Wednesday. Finally, UBS Group decreased their price objective on shares of PPG Industries from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $127.09.

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.