PPG Industries, Inc. $PPG Stake Boosted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its stake in PPG Industries, Inc. (NYSE:PPG) by 6.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 689,347 shares of the specialty chemicals company’s stock after acquiring an additional 40,374 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in PPG Industries were worth $72,457,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PPG. Capital Advisors Ltd. LLC lifted its stake in PPG Industries by 127.6% in 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 last quarter. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of PPG Industries in the 3rd quarter worth about $26,000. Gladwyn Financial Advisors Inc. bought a new stake in PPG Industries in the 2nd quarter valued at about $31,000. Vermillion & White Wealth Management Group LLC boosted its stake in 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 valued at $31,000 after purchasing an additional 137 shares during the period. Finally, Rothschild Investment LLC grew its position in PPG Industries by 184.0% in the 2nd quarter. Rothschild Investment LLC now owns 284 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 184 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PPG has been the topic of a number of recent analyst reports. Mizuho cut their price target on PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Evercore ISI reduced their price target on PPG Industries from $145.00 to $112.00 and set an “in-line” rating for the company in a research report on Tuesday, November 11th. Wells Fargo & Company reduced their price objective on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. UBS Group lowered their target price on shares of PPG Industries from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Finally, Zacks Research downgraded shares of PPG Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $122.54.

PPG Industries Price Performance

NYSE:PPG opened at $108.48 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.47 and a debt-to-equity ratio of 0.74. The business’s 50-day moving average price is $101.28 and its 200 day moving average price is $105.92. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $124.74. The firm has a market cap of $24.34 billion, a P/E ratio of 24.60, a PEG ratio of 3.20 and a beta of 1.17.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data 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 23.61%. The company had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same quarter last year, the firm posted $2.13 EPS. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. As a group, sell-side analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

About PPG Industries

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.