Bank of Montreal Can Cuts Stake in PPG Industries, Inc. $PPG

Bank of Montreal Can reduced its position in shares of PPG Industries, Inc. (NYSE:PPG) by 15.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 334,808 shares of the specialty chemicals company’s stock after selling 58,903 shares during the quarter. Bank of Montreal Can owned approximately 0.15% of PPG Industries worth $38,084,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cookson Peirce & Co. Inc. raised its holdings in PPG Industries by 1.9% during the 1st quarter. Cookson Peirce & Co. Inc. now owns 4,862 shares of the specialty chemicals company’s stock valued at $532,000 after buying an additional 89 shares during the last quarter. Summit Financial LLC raised its holdings in PPG Industries by 1.3% during the 1st quarter. Summit Financial LLC now owns 7,246 shares of the specialty chemicals company’s stock valued at $792,000 after buying an additional 90 shares during the last quarter. Bell Investment Advisors Inc raised its holdings in PPG Industries by 40.9% during the 1st quarter. Bell Investment Advisors Inc now owns 355 shares of the specialty chemicals company’s stock valued at $39,000 after buying an additional 103 shares during the last quarter. Motco raised its holdings in PPG Industries by 19.3% during the 1st quarter. Motco now owns 680 shares of the specialty chemicals company’s stock valued at $74,000 after buying an additional 110 shares during the last quarter. Finally, BKM Wealth Management LLC raised its holdings in PPG Industries by 2.4% during the 1st quarter. BKM Wealth Management LLC now owns 4,847 shares of the specialty chemicals company’s stock valued at $530,000 after buying an additional 115 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Stock Up 1.5%

Shares of NYSE PPG opened at $96.31 on Thursday. The company has a current ratio of 1.47, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76. The firm has a fifty day simple moving average of $104.63 and a two-hundred day simple moving average of $108.95. The firm has a market capitalization of $21.61 billion, a PE ratio of 21.84, a price-to-earnings-growth ratio of 2.13 and a beta of 1.16. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $130.05.

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

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Monday, November 10th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, November 10th. PPG Industries’s dividend payout ratio (DPR) is presently 64.40%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PPG. Wells Fargo & Company lowered their price target 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. Weiss Ratings reiterated a “hold (c-)” rating on shares of PPG Industries in a report on Friday, October 31st. Citigroup decreased their price objective on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating for the company in a report on Monday, October 6th. Bank of America decreased their price objective on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Finally, UBS Group decreased their price objective on shares of PPG Industries from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. One 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $124.30.

PPG Industries 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.