PPG Industries, Inc. $PPG Stock Holdings Increased by OFI Invest Asset Management

OFI Invest Asset Management boosted its position in PPG Industries, Inc. (NYSE:PPG) by 56.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 944 shares of the specialty chemicals company’s stock after buying an additional 339 shares during the quarter. OFI Invest Asset Management’s holdings in PPG Industries were worth $107,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PPG. Brighton Jones LLC increased its holdings in PPG Industries by 9.1% in the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock valued at $487,000 after buying an additional 339 shares during the last quarter. Park Avenue Securities LLC increased its holdings in PPG Industries by 53.3% in the first quarter. Park Avenue Securities LLC now owns 3,625 shares of the specialty chemicals company’s stock valued at $396,000 after buying an additional 1,260 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in PPG Industries by 142.0% in the first quarter. Farther Finance Advisors LLC now owns 5,526 shares of the specialty chemicals company’s stock valued at $602,000 after buying an additional 3,243 shares during the last quarter. GAMMA Investing LLC increased its holdings in PPG Industries by 8.3% in the first quarter. GAMMA Investing LLC now owns 6,626 shares of the specialty chemicals company’s stock valued at $725,000 after buying an additional 505 shares during the last quarter. Finally, CX Institutional bought a new stake in PPG Industries in the first quarter valued at about $44,000. 81.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PPG has been the subject of several recent research reports. Wells Fargo & Company lowered their target price on PPG Industries from $135.00 to $132.00 and set an “overweight” rating for the company in a report on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PPG Industries in a report on Wednesday, October 8th. Mizuho lowered their target price on PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. UBS Group lowered their target price on PPG Industries from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Monday, October 6th. Finally, Royal Bank Of Canada upped their target price on PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and an average target price of $126.82.

PPG Industries Stock Performance

Shares of NYSE PPG opened at $98.45 on Monday. 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 stock has a 50 day simple moving average of $108.07 and a 200-day simple moving average of $109.06. The company has a market cap of $22.22 billion, a PE ratio of 22.32, a P/E/G ratio of 2.04 and a beta of 1.16. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $132.18.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.22. The business had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.16 billion. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The business’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.50 earnings per share. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, equities research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Monday, August 11th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.68. The ex-dividend date was Monday, August 11th. PPG Industries’s payout ratio is currently 64.40%.

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.