PPG Industries, Inc. $PPG Position Lessened by Ameriprise Financial Inc.

Ameriprise Financial Inc. reduced its holdings in PPG Industries, Inc. (NYSE:PPG) by 36.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,368,492 shares of the specialty chemicals company’s stock after selling 1,383,646 shares during the quarter. Ameriprise Financial Inc. owned 1.04% of PPG Industries worth $259,069,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new stake in PPG Industries in the 4th quarter valued at approximately $26,000. Cheviot Value Management LLC acquired a new stake in PPG Industries in the 1st quarter valued at approximately $26,000. CVA Family Office LLC increased its position in PPG Industries by 70.6% in the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company’s stock valued at $30,000 after acquiring an additional 113 shares during the period. Headlands Technologies LLC acquired a new stake in PPG Industries in the 1st quarter valued at approximately $30,000. Finally, Financial Connections Group Inc. increased its position in 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. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Up 2.2%

Shares of PPG stock opened at $114.0530 on Friday. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $137.24. The stock has a market cap of $25.74 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 2.31 and a beta of 1.17. The business’s fifty day moving average is $112.46 and its 200-day moving average is $110.70. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.22. The business had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.16 billion. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The company’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.50 EPS. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Equities analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 11th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, August 11th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.68. PPG Industries’s payout ratio is presently 64.40%.

Analysts Set New Price Targets

Several analysts recently commented on PPG shares. Fermium Researc upgraded PPG Industries to a “strong-buy” rating in a research report on Thursday, May 1st. UBS Group raised their target price on PPG Industries from $111.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, July 9th. Mizuho raised their target price on PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Royal Bank Of Canada lifted their price target on PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company lifted their price target on PPG Industries from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $129.82.

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.