TIAA Trust National Association Sells 10,683 Shares of PPG Industries, Inc. $PPG

TIAA Trust National Association lessened its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 37.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,838 shares of the specialty chemicals company’s stock after selling 10,683 shares during the quarter. TIAA Trust National Association’s holdings in PPG Industries were worth $2,029,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Envestnet Asset Management Inc. lifted its position in PPG Industries by 0.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 249,755 shares of the specialty chemicals company’s stock worth $27,311,000 after buying an additional 1,697 shares during the last quarter. Principal Financial Group Inc. grew its position in PPG Industries by 4.4% during the first quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company’s stock valued at $33,129,000 after acquiring an additional 12,650 shares during the last quarter. Meridian Wealth Management LLC grew its position in PPG Industries by 311.2% during the first quarter. Meridian Wealth Management LLC now owns 7,665 shares of the specialty chemicals company’s stock valued at $838,000 after acquiring an additional 5,801 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of PPG Industries by 10.8% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 494,482 shares of the specialty chemicals company’s stock worth $54,060,000 after acquiring an additional 48,177 shares during the last quarter. Finally, MQS Management LLC bought a new stake in shares of PPG Industries in the 1st quarter worth approximately $550,000. Institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on PPG shares. Royal Bank Of Canada boosted their price target on shares of PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a research note on Friday, August 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of PPG Industries in a research note on Friday. Wells Fargo & Company reduced their price target on PPG Industries from $132.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. 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. Finally, Mizuho cut their target price on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $124.30.

PPG Industries Trading Down 2.8%

PPG opened at $94.97 on Tuesday. The business has a 50 day simple moving average of $105.31 and a two-hundred day simple moving average of $109.07. The firm has a market capitalization of $21.31 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 2.13 and a beta of 1.16. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.47 and a quick ratio of 1.04. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $130.05.

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

PPG Industries Dividend Announcement

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