PPG Industries, Inc. $PPG Shares Acquired by Forsta AP Fonden

Forsta AP Fonden increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 19.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,700 shares of the specialty chemicals company’s stock after acquiring an additional 20,600 shares during the period. Forsta AP Fonden owned about 0.06% of PPG Industries worth $14,526,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Meridian Wealth Management LLC increased its position in shares of PPG Industries by 311.2% during the first quarter. Meridian Wealth Management LLC now owns 7,665 shares of the specialty chemicals company’s stock worth $838,000 after acquiring an additional 5,801 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in PPG Industries by 10.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 494,482 shares of the specialty chemicals company’s stock worth $54,060,000 after purchasing an additional 48,177 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in PPG Industries by 3.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,734,270 shares of the specialty chemicals company’s stock worth $298,992,000 after purchasing an additional 85,891 shares during the period. Jefferies Financial Group Inc. raised its position in PPG Industries by 72.5% in the 1st quarter. Jefferies Financial Group Inc. now owns 8,194 shares of the specialty chemicals company’s stock valued at $896,000 after purchasing an additional 3,443 shares in the last quarter. Finally, Avior Wealth Management LLC raised its position in PPG Industries by 8,828.7% in the 2nd quarter. Avior Wealth Management LLC now owns 8,393 shares of the specialty chemicals company’s stock valued at $955,000 after purchasing an additional 8,299 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on PPG. Wells Fargo & Company cut their target price on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Evercore ISI dropped their price objective on shares of PPG Industries from $145.00 to $112.00 and set an “in-line” rating on the stock in a research report on Tuesday. Zacks Research lowered shares of PPG Industries from a “hold” rating to a “strong sell” rating in a report on Monday. JPMorgan Chase & Co. upgraded shares of PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 target price for the company in a research note on Thursday, October 16th. Finally, Citigroup cut their price target on PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $123.18.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $97.37 on Thursday. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $130.05. The firm has a market capitalization of $21.85 billion, a P/E ratio of 22.08, a P/E/G ratio of 2.13 and a beta of 1.19. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.47 and a quick ratio of 1.04. The company’s fifty day moving average price is $103.20 and its 200 day moving average price is $108.74.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data 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. PPG Industries had a return on equity of 24.17% and a net margin of 6.35%.The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter last year, the company posted $2.13 earnings per share. The business’s quarterly revenue 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, sell-side analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently declared 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 of this dividend is Monday, November 10th. This represents a $2.84 annualized dividend and a 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.