New York Life Investment Management LLC Has $3.87 Million Position in PPG Industries, Inc. $PPG

New York Life Investment Management LLC reduced its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,992 shares of the specialty chemicals company’s stock after selling 321 shares during the quarter. New York Life Investment Management LLC’s holdings in PPG Industries were worth $3,867,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of PPG. Pavion Blue Capital LLC raised its holdings in shares of PPG Industries by 5.7% during the second quarter. Pavion Blue Capital LLC now owns 7,400 shares of the specialty chemicals company’s stock worth $842,000 after acquiring an additional 400 shares in the last quarter. Boyd Watterson Asset Management LLC OH raised its holdings in shares of PPG Industries by 7.1% during the second quarter. Boyd Watterson Asset Management LLC OH now owns 3,401 shares of the specialty chemicals company’s stock worth $387,000 after acquiring an additional 224 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of PPG Industries by 234.8% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,800 shares of the specialty chemicals company’s stock worth $3,390,000 after acquiring an additional 20,900 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of PPG Industries by 1.6% during the second quarter. Teacher Retirement System of Texas now owns 34,468 shares of the specialty chemicals company’s stock worth $3,921,000 after acquiring an additional 538 shares in the last quarter. Finally, Transcend Capital Advisors LLC raised its holdings in shares of PPG Industries by 2.9% during the second quarter. Transcend Capital Advisors LLC now owns 21,901 shares of the specialty chemicals company’s stock worth $2,491,000 after acquiring an additional 611 shares in the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PPG has been the subject of several recent research reports. Royal Bank Of Canada increased their price objective on PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a report on Friday, August 1st. 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 report on Thursday, October 16th. UBS Group cut their price objective on PPG Industries from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday. Citigroup cut their target price on PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, October 6th. Finally, Bank of America cut their target price on PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. One 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.30.

PPG Industries Trading Down 1.8%

NYSE:PPG opened at $97.34 on Friday. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $130.05. The firm has a market cap of $21.97 billion, a price-to-earnings ratio of 22.07, a P/E/G ratio of 2.13 and a beta of 1.16. The company has a quick ratio of 1.04, a current ratio of 1.47 and a debt-to-equity ratio of 0.76. The company’s 50 day moving average is $105.97 and its 200-day moving average is $108.99.

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

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.9%. PPG Industries’s 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.