Mitsubishi UFJ Asset Management Co. Ltd. Raises Stock Position in PPG Industries, Inc. $PPG

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 4.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 517,729 shares of the specialty chemicals company’s stock after purchasing an additional 23,247 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.23% of PPG Industries worth $58,977,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Envestnet Asset Management Inc. grew its stake in shares of PPG Industries by 0.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 249,755 shares of the specialty chemicals company’s stock valued at $27,311,000 after buying an additional 1,697 shares during the period. Meridian Wealth Management LLC lifted its position in PPG Industries by 311.2% during the 1st quarter. Meridian Wealth Management LLC now owns 7,665 shares of the specialty chemicals company’s stock worth $838,000 after acquiring an additional 5,801 shares in the last quarter. MQS Management LLC purchased a new position in shares of PPG Industries in the first quarter valued at $550,000. Charles Schwab Investment Management Inc. grew its stake in shares of PPG Industries by 3.2% during the first 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, Jefferies Financial Group Inc. increased its stake in shares of PPG Industries by 72.5% in the first quarter. Jefferies Financial Group Inc. now owns 8,194 shares of the specialty chemicals company’s stock worth $896,000 after buying an additional 3,443 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on PPG shares. Bank of America decreased their target price on PPG Industries from $131.00 to $129.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. JPMorgan Chase & Co. raised PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 price objective for the company in a report on Thursday, October 16th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PPG Industries in a research note on Friday, October 31st. 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. Finally, Wells Fargo & Company reduced their price objective on PPG Industries from $132.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $124.30.

PPG Industries Stock Up 1.1%

PPG stock opened at $96.24 on Monday. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $130.05. The company has a market cap of $21.60 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 2.13 and a beta of 1.19. The business’s 50-day simple moving average is $104.01 and its 200 day simple moving average is $108.93. The company has a quick ratio of 1.04, a current ratio of 1.47 and a debt-to-equity ratio of 0.76.

PPG Industries (NYSE:PPG) last issued its 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 during the quarter, compared to analysts’ expectations of $4.06 billion. PPG Industries had a return on equity of 24.17% and a net margin of 6.35%.PPG Industries’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business earned $2.13 earnings per share. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. On average, research analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Monday, November 10th will be given a $0.71 dividend. The ex-dividend date is Monday, November 10th. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. PPG Industries’s 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.