Glenview Trust co Has $1.79 Million Stock Holdings in PPG Industries, Inc. $PPG

Glenview Trust co decreased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 4.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,334 shares of the specialty chemicals company’s stock after selling 798 shares during the quarter. Glenview Trust co’s holdings in PPG Industries were worth $1,786,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in shares of PPG Industries by 5.6% during the 1st quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company’s stock valued at $1,220,259,000 after acquiring an additional 592,152 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of PPG Industries by 58.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company’s stock valued at $524,627,000 after acquiring an additional 1,766,518 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 valued at $321,147,000 after acquiring an additional 105,973 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings 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 valued at $298,992,000 after acquiring an additional 85,891 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of PPG Industries by 2.9% during the 1st 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 acquiring an additional 60,301 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PPG shares. Wells Fargo & Company raised their price objective on PPG Industries from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Royal Bank Of Canada lifted their target price on PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a report on Friday, August 1st. Citigroup lifted their target price on PPG Industries from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, June 13th. Mizuho lifted their target price on PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a 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 report on Wednesday, July 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.82.

PPG Industries Stock Performance

PPG stock opened at $108.87 on Thursday. The stock has a 50-day moving average price of $112.06 and a 200-day moving average price of $110.21. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $137.24. 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 firm has a market cap of $24.57 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 2.26 and a beta of 1.14.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share 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 firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same period last year, the company posted $2.50 EPS. The business’s quarterly revenue was down .9% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. As a group, equities research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, August 11th will be given a $0.71 dividend. This is a boost from PPG Industries’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Monday, August 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.6%. PPG Industries’s dividend payout ratio is 64.40%.

About PPG Industries

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.