Pzena Investment Management LLC Has $115.34 Million Stock Holdings in PPG Industries, Inc. $PPG

Pzena Investment Management LLC lifted its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 5.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,014,004 shares of the specialty chemicals company’s stock after buying an additional 50,592 shares during the period. Pzena Investment Management LLC owned about 0.45% of PPG Industries worth $115,343,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Envestnet Asset Management Inc. lifted its stake 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 valued at $27,311,000 after purchasing an additional 1,697 shares during the last quarter. Clear Creek Financial Management LLC acquired a new stake in PPG Industries in the 1st quarter valued at about $240,000. Principal Financial Group Inc. lifted its stake in PPG Industries by 4.4% in the 1st quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company’s stock valued at $33,129,000 after purchasing an additional 12,650 shares during the last quarter. Meridian Wealth Management LLC lifted its stake in PPG Industries by 311.2% in the 1st quarter. Meridian Wealth Management LLC now owns 7,665 shares of the specialty chemicals company’s stock valued at $838,000 after purchasing an additional 5,801 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its stake in PPG Industries by 966.3% in the 1st quarter. Golden State Wealth Management LLC now owns 885 shares of the specialty chemicals company’s stock valued at $97,000 after purchasing an additional 802 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PPG. Royal Bank Of Canada raised their target price on shares of PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a research note on Friday, August 1st. Citigroup lowered their price target on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, October 6th. Mizuho lowered their price target 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. UBS Group lowered their price target on shares of PPG Industries from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Monday, October 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of PPG Industries in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, PPG Industries has a consensus rating of “Moderate Buy” and a consensus price target of $126.82.

PPG Industries Stock Down 1.2%

Shares of PPG opened at $98.45 on Monday. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $132.18. The firm’s 50 day moving average is $108.07 and its 200-day moving average is $109.06. The stock has a market capitalization of $22.22 billion, a PE ratio of 22.32, a P/E/G ratio of 2.04 and a beta of 1.16. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76.

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

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, August 11th were issued a dividend of $0.71 per share. This is a boost from PPG Industries’s previous quarterly dividend of $0.68. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Monday, August 11th. PPG Industries’s payout ratio is 64.40%.

PPG Industries Company 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.