PPG Industries, Inc. $PPG Position Reduced by Mackenzie Financial Corp

Mackenzie Financial Corp reduced its position in shares of PPG Industries, Inc. (NYSE:PPG) by 36.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 160,637 shares of the specialty chemicals company’s stock after selling 91,324 shares during the period. Mackenzie Financial Corp’s holdings in PPG Industries were worth $18,272,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Capital Advisors Ltd. LLC raised its position in PPG Industries by 127.6% during the second quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 125 shares during the period. Cheviot Value Management LLC purchased a new stake in shares of PPG Industries during the first quarter worth $26,000. Headlands Technologies LLC purchased a new position in PPG Industries in the first quarter valued at about $30,000. Gladwyn Financial Advisors Inc. acquired a new position in PPG Industries in the 2nd quarter worth about $31,000. Finally, Vermillion & White Wealth Management Group LLC raised its stake in shares of PPG Industries by 100.7% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 273 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 137 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Trading Down 0.1%

Shares of PPG Industries stock opened at $99.96 on Tuesday. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $130.05. The firm has a market capitalization of $22.43 billion, a PE ratio of 22.67, a price-to-earnings-growth ratio of 2.13 and a beta of 1.19. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.47 and a quick ratio of 1.04. The company’s fifty day moving average price is $100.10 and its two-hundred day moving average price is $107.68.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.04. PPG Industries had a net margin of 6.35% and a return on equity of 24.17%. The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period in the previous year, the business earned $2.13 EPS. The firm’s revenue was up 1.2% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. On average, analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, November 10th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.8%. PPG Industries’s dividend payout ratio is presently 64.40%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PPG. Wells Fargo & Company dropped their price objective on PPG Industries from $132.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Citigroup dropped their price target on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. Zacks Research cut shares of PPG Industries from a “hold” rating to a “strong sell” rating in a report on Monday, November 10th. Sanford C. Bernstein lowered their target price on shares of PPG Industries from $129.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, November 24th. Finally, Mizuho reduced their price target on PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $123.58.

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.