PPG Industries, Inc. $PPG Shares Sold by TD Asset Management Inc

TD Asset Management Inc lowered its position in PPG Industries, Inc. (NYSE:PPG) by 2.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 229,514 shares of the specialty chemicals company’s stock after selling 6,421 shares during the quarter. TD Asset Management Inc owned approximately 0.10% of PPG Industries worth $26,107,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. lifted its holdings in shares of PPG Industries by 0.7% during the first 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 period. Clear Creek Financial Management LLC acquired a new position in PPG Industries during the first quarter worth about $240,000. Principal Financial Group Inc. increased 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 in the last quarter. Meridian Wealth Management LLC increased its position in shares of PPG Industries by 311.2% in the first quarter. Meridian Wealth Management LLC now owns 7,665 shares of the specialty chemicals company’s stock valued at $838,000 after buying an additional 5,801 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its position in PPG Industries by 966.3% during the first quarter. Golden State Wealth Management LLC now owns 885 shares of the specialty chemicals company’s stock worth $97,000 after acquiring an additional 802 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Price Performance

NYSE PPG opened at $101.55 on Friday. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $132.18. The company has a 50-day moving average price of $107.49 and a two-hundred day moving average price of $108.76. 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 market cap of $22.92 billion, a price-to-earnings ratio of 23.03, a price-to-earnings-growth ratio of 2.12 and a beta of 1.16.

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

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Monday, November 10th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, November 10th. PPG Industries’s payout ratio is 64.40%.

Wall Street Analyst Weigh In

PPG has been the subject of a number of recent research reports. Wells Fargo & Company dropped their price objective on PPG Industries from $135.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday, October 10th. Citigroup cut their price target on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. Royal Bank Of Canada boosted their target price on PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a report on Friday, August 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of PPG Industries in a research note on Wednesday, October 8th. Finally, Bank of America dropped their price target on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, PPG Industries has an average rating of “Moderate Buy” and a consensus price target of $127.73.

About PPG Industries

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.