iA Global Asset Management Inc. Raises Stock Position in PPG Industries, Inc. $PPG

iA Global Asset Management Inc. grew its holdings in PPG Industries, Inc. (NYSE:PPG) by 35.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,529 shares of the specialty chemicals company’s stock after acquiring an additional 1,978 shares during the period. iA Global Asset Management Inc.’s holdings in PPG Industries were worth $856,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PPG. Capital Advisors Ltd. LLC raised its stake in shares of PPG Industries by 127.6% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock valued at $25,000 after acquiring an additional 125 shares during the period. Cheviot Value Management LLC purchased a new position in shares of PPG Industries in the 1st quarter valued at $26,000. Headlands Technologies LLC purchased a new position in shares of PPG Industries in the 1st quarter valued at $30,000. Gladwyn Financial Advisors Inc. purchased a new position in shares of PPG Industries in the 2nd quarter valued at $31,000. Finally, Financial Connections Group Inc. raised its stake in shares of PPG Industries by 74.6% in the 1st quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company’s stock valued at $38,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of PPG stock opened at $94.97 on Tuesday. The firm has a market cap of $21.31 billion, a P/E ratio of 21.54, a P/E/G 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 1-year low of $90.24 and a 1-year high of $130.05. The firm has a fifty day moving average of $105.31 and a two-hundred day moving average of $109.07.

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

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Monday, November 10th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, November 10th. PPG Industries’s dividend payout ratio is currently 64.40%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. UBS Group dropped their price target on shares of PPG Industries from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Royal Bank Of Canada lifted 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. 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, October 14th. Wells Fargo & Company decreased their price objective on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of PPG Industries in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $124.30.

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.