Field & Main Bank Sells 115 Shares of PPG Industries, Inc. $PPG

Field & Main Bank lessened its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 5.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,099 shares of the specialty chemicals company’s stock after selling 115 shares during the quarter. Field & Main Bank’s holdings in PPG Industries were worth $239,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its position in PPG Industries by 0.7% during the first quarter. Envestnet Asset Management Inc. now owns 249,755 shares of the specialty chemicals company’s stock worth $27,311,000 after purchasing an additional 1,697 shares during the period. Clear Creek Financial Management LLC purchased a new stake in shares of PPG Industries in the first quarter worth about $240,000. Principal Financial Group Inc. lifted its holdings in shares of PPG Industries by 4.4% in the first quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company’s stock worth $33,129,000 after buying an additional 12,650 shares in the last quarter. Meridian Wealth Management LLC lifted its holdings in shares of PPG Industries by 311.2% in the first quarter. Meridian Wealth Management LLC now owns 7,665 shares of the specialty chemicals company’s stock worth $838,000 after buying an additional 5,801 shares in the last quarter. Finally, Revisor Wealth Management LLC lifted its holdings in shares of PPG Industries by 95.8% in the first quarter. Revisor Wealth Management LLC now owns 4,435 shares of the specialty chemicals company’s stock worth $485,000 after buying an additional 2,170 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Down 5.9%

PPG stock opened at $99.09 on Thursday. The company has a market capitalization of $22.37 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 2.22 and a beta of 1.16. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $130.05. The company’s 50 day moving average price is $106.26 and its two-hundred day moving average price is $109.07. 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 (NYSE:PPG) last posted its quarterly earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 EPS for the quarter, topping the consensus estimate of $2.09 by $0.04. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.06 billion. PPG Industries had a net margin of 6.35% and a return on equity of 24.17%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $2.13 earnings per share. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. As a group, analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Monday, November 10th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. PPG Industries’s dividend payout ratio (DPR) is 64.40%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports 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 stock a “sector perform” rating in a report on Friday, August 1st. UBS Group lowered their target price on shares of PPG Industries from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Bank of America lowered their target price on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Wells Fargo & Company lowered their target price on shares of PPG Industries from $135.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, October 10th. Finally, JPMorgan Chase & Co. raised shares of PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 target price on the stock in a research note on Thursday, October 16th. One equities research 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $125.00.

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.