PPG Industries, Inc. $PPG Shares Sold by Whittier Trust Co.

Whittier Trust Co. lessened its holdings in PPG Industries, Inc. (NYSE:PPG) by 40.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,138 shares of the specialty chemicals company’s stock after selling 4,871 shares during the period. Whittier Trust Co.’s holdings in PPG Industries were worth $812,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Wellington Management Group LLP lifted its stake in shares of PPG Industries by 5.6% in the 1st quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company’s stock valued at $1,220,259,000 after purchasing an additional 592,152 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of PPG Industries by 58.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company’s stock valued at $524,627,000 after purchasing an additional 1,766,518 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of PPG Industries by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,937,274 shares of the specialty chemicals company’s stock valued at $321,147,000 after buying an additional 105,973 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of PPG Industries by 3.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,734,270 shares of the specialty chemicals company’s stock valued at $298,992,000 after buying an additional 85,891 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of PPG Industries by 2.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,174,762 shares of the specialty chemicals company’s stock valued at $237,810,000 after buying an additional 60,301 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on PPG. JPMorgan Chase & Co. upgraded PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 price objective on the stock in a report on Thursday, October 16th. Citigroup cut their price objective on PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, October 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of PPG Industries in a report on Wednesday, October 8th. Bank of America cut their price objective on PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Finally, Wells Fargo & Company cut their price objective on PPG Industries from $135.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, PPG Industries currently has an average rating of “Moderate Buy” and an average price target of $125.00.

PPG Industries Price Performance

Shares of NYSE PPG opened at $103.50 on Friday. The stock’s 50-day moving average is $106.94 and its two-hundred day moving average is $108.78. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.04. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $130.05. The company has a market cap of $23.36 billion, a price-to-earnings ratio of 23.47, a price-to-earnings-growth ratio of 2.15 and a beta of 1.16.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, hitting the consensus estimate of $2.22. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter in the prior year, the business earned $2.50 EPS. PPG Industries’s revenue was down .9% on a year-over-year basis. 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 fiscal year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Monday, November 10th will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, November 10th. This represents a $2.84 annualized dividend and a yield of 2.7%. PPG Industries’s dividend payout ratio is 64.40%.

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.