Yousif Capital Management LLC Decreases Stock Holdings in PPG Industries, Inc. $PPG

Yousif Capital Management LLC reduced its position in shares of PPG Industries, Inc. (NYSE:PPG) by 4.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 83,030 shares of the specialty chemicals company’s stock after selling 3,591 shares during the period. Yousif Capital Management LLC’s holdings in PPG Industries were worth $9,445,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PPG. Cookson Peirce & Co. Inc. lifted its position in PPG Industries by 1.9% in the first quarter. Cookson Peirce & Co. Inc. now owns 4,862 shares of the specialty chemicals company’s stock valued at $532,000 after acquiring an additional 89 shares during the last quarter. Summit Financial LLC lifted its position in PPG Industries by 1.3% in the first quarter. Summit Financial LLC now owns 7,246 shares of the specialty chemicals company’s stock valued at $792,000 after acquiring an additional 90 shares during the last quarter. Conning Inc. lifted its position in PPG Industries by 5.5% in the first quarter. Conning Inc. now owns 1,881 shares of the specialty chemicals company’s stock valued at $206,000 after acquiring an additional 98 shares during the last quarter. Beacon Capital Management LLC lifted its position in PPG Industries by 37.1% in the first quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company’s stock valued at $41,000 after acquiring an additional 101 shares during the last quarter. Finally, Bell Investment Advisors Inc lifted its position in PPG Industries by 40.9% in the first quarter. Bell Investment Advisors Inc now owns 355 shares of the specialty chemicals company’s stock valued at $39,000 after acquiring an additional 103 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PPG shares. Wells Fargo & Company reduced their price target on shares of PPG Industries from $135.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday. Citigroup reduced their price target on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, October 6th. Weiss Ratings reissued a “hold (c)” rating on shares of PPG Industries in a research report on Wednesday, October 8th. Royal Bank Of Canada upped their target price on shares of PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a report on Friday, August 1st. Finally, UBS Group reduced their target price on shares of PPG Industries from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Monday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $126.82.

PPG Industries Trading Up 0.4%

Shares of PPG Industries stock opened at $98.83 on Tuesday. The firm has a market cap of $22.31 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 2.04 and a beta of 1.16. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $132.18. The company’s 50-day simple moving average is $107.95 and its 200-day simple moving average is $109.00. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76.

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

PPG Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Monday, August 11th were issued a dividend of $0.71 per share. This is an increase from PPG Industries’s previous quarterly dividend of $0.68. This represents a $2.84 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, August 11th. 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.