PPG Industries, Inc. $PPG Shares Purchased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. increased its position in PPG Industries, Inc. (NYSE:PPG) by 5.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,089 shares of the specialty chemicals company’s stock after acquiring an additional 5,237 shares during the period. Resona Asset Management Co. Ltd.’s holdings in PPG Industries were worth $10,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in PPG. Capital Advisors Ltd. LLC lifted its holdings in shares of PPG Industries by 127.6% during the second quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 125 shares during the period. Cheviot Value Management LLC acquired a new position in PPG Industries in the 1st quarter worth approximately $26,000. Headlands Technologies LLC purchased a new position in PPG Industries during the 1st quarter worth approximately $30,000. Gladwyn Financial Advisors Inc. acquired a new stake in PPG Industries during the 2nd quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. boosted its holdings 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 last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

PPG has been the subject of several recent research reports. Citigroup reduced their target price 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. UBS Group reduced their price objective on PPG Industries from $115.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. Mizuho lowered their target price on PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Wells Fargo & Company reduced their price target on PPG Industries from $132.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Finally, Bank of America lowered their price objective on PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. One 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 stock. According to data from MarketBeat.com, PPG Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.30.

PPG Industries Price Performance

Shares of PPG Industries stock opened at $96.24 on Friday. The firm has a market cap of $21.60 billion, a PE ratio of 21.82, a P/E/G ratio of 2.13 and a beta of 1.19. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $130.05. 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 business has a 50-day moving average price of $104.01 and a 200 day moving average price of $108.88.

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

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Monday, November 10th will be given 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 yield of 3.0%. PPG Industries’s dividend payout ratio is currently 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.