D.B. Root & Company LLC Cuts Stock Holdings in PPG Industries, Inc. $PPG

D.B. Root & Company LLC lessened its holdings in PPG Industries, Inc. (NYSE:PPG) by 16.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 6,051 shares of the specialty chemicals company’s stock after selling 1,171 shares during the quarter. D.B. Root & Company LLC’s holdings in PPG Industries were worth $688,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PPG. Wellington Management Group LLP lifted its holdings in PPG Industries by 5.6% during the first quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company’s stock worth $1,220,259,000 after buying an additional 592,152 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of PPG Industries by 58.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company’s stock worth $524,627,000 after acquiring an additional 1,766,518 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of PPG Industries by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,937,274 shares of the specialty chemicals company’s stock worth $321,147,000 after purchasing an additional 105,973 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of PPG Industries by 3.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,734,270 shares of the specialty chemicals company’s stock worth $298,992,000 after purchasing an additional 85,891 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in PPG Industries by 2.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,174,762 shares of the specialty chemicals company’s stock valued at $237,810,000 after purchasing an additional 60,301 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on PPG shares. Royal Bank Of Canada increased their price target on shares of PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a research report on Friday, August 1st. Weiss Ratings reissued a “hold (c)” rating on shares of PPG Industries in a research report on Saturday, September 27th. Wells Fargo & Company raised their target price on shares of PPG Industries from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. UBS Group upped their price target on PPG Industries from $111.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 9th. Finally, Citigroup increased their price objective on PPG Industries from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.91.

PPG Industries Trading Down 0.2%

NYSE PPG opened at $104.36 on Monday. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $132.18. The company has a fifty day simple moving average of $108.83 and a two-hundred day simple moving average of $109.41. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76. The stock has a market cap of $23.55 billion, a P/E ratio of 23.66, a P/E/G ratio of 2.16 and a beta of 1.16.

PPG Industries (NYSE:PPG) last released its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.22. The firm had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.16 billion. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The firm’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.50 EPS. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current 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 paid a $0.71 dividend. The ex-dividend date was Monday, August 11th. 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 2.7%. PPG Industries’s dividend payout ratio (DPR) is 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.