PPG Industries, Inc. $PPG Shares Bought by Assetmark Inc.

Assetmark Inc. grew its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 38.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,023 shares of the specialty chemicals company’s stock after acquiring an additional 5,796 shares during the period. Assetmark Inc.’s holdings in PPG Industries were worth $2,391,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PPG. Brighton Jones LLC lifted its position in shares of PPG Industries by 9.1% during the 4th quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock valued at $487,000 after acquiring an additional 339 shares during the period. Principal Financial Group Inc. raised its position in shares of PPG Industries by 4.4% during the 1st quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company’s stock worth $33,129,000 after purchasing an additional 12,650 shares during the last quarter. Penserra Capital Management LLC raised its position in shares of PPG Industries by 1,007.5% during the 1st quarter. Penserra Capital Management LLC now owns 6,756 shares of the specialty chemicals company’s stock worth $738,000 after purchasing an additional 6,146 shares during the last quarter. Envestnet Asset Management Inc. raised its position 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 worth $27,311,000 after purchasing an additional 1,697 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its position in shares of PPG Industries by 31.6% during the 1st quarter. TD Private Client Wealth LLC now owns 6,263 shares of the specialty chemicals company’s stock worth $685,000 after purchasing an additional 1,503 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Down 0.1%

Shares of NYSE PPG opened at $94.84 on Wednesday. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $130.05. The firm has a fifty day moving average of $104.95 and a 200-day moving average of $109.03. The stock has a market capitalization of $21.28 billion, a PE ratio of 21.51, a P/E/G ratio of 2.13 and a beta of 1.16. 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 announced its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share (EPS) 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 company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same period in the previous year, the company earned $2.13 EPS. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. On average, analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Monday, November 10th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Monday, November 10th. PPG Industries’s dividend payout ratio is 64.40%.

Analysts Set New Price Targets

PPG has been the subject of several research reports. JPMorgan Chase & Co. upgraded PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 price objective for the company in a research report on Thursday, October 16th. Royal Bank Of Canada lifted their price objective on PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Friday, August 1st. Bank of America cut their price objective 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. Weiss Ratings restated a “hold (c-)” rating on shares of PPG Industries in a research report on Friday, October 31st. Finally, Mizuho cut their price objective 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, six have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, PPG Industries currently has an average rating of “Moderate Buy” and a consensus price target of $124.30.

PPG Industries 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.