PPG Industries, Inc. $PPG Shares Sold by Wedgewood Investors Inc. PA

Wedgewood Investors Inc. PA lowered its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,349 shares of the specialty chemicals company’s stock after selling 100 shares during the period. Wedgewood Investors Inc. PA’s holdings in PPG Industries were worth $495,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PPG. Brighton Jones LLC raised its stake in PPG Industries by 9.1% during the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock worth $487,000 after purchasing an additional 339 shares during the period. GAMMA Investing LLC raised its stake in PPG Industries by 8.3% during the first quarter. GAMMA Investing LLC now owns 6,626 shares of the specialty chemicals company’s stock worth $725,000 after purchasing an additional 505 shares during the period. Kentucky Retirement Systems Insurance Trust Fund raised its stake in PPG Industries by 33.7% during the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 6,723 shares of the specialty chemicals company’s stock worth $735,000 after purchasing an additional 1,694 shares during the period. Asset Management One Co. Ltd. raised its stake in PPG Industries by 12.1% during the first quarter. Asset Management One Co. Ltd. now owns 102,778 shares of the specialty chemicals company’s stock worth $11,239,000 after purchasing an additional 11,130 shares during the period. Finally, Moran Wealth Management LLC raised its stake in PPG Industries by 16.2% during the first quarter. Moran Wealth Management LLC now owns 49,020 shares of the specialty chemicals company’s stock worth $5,360,000 after purchasing an additional 6,838 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

PPG opened at $104.49 on Wednesday. The company has a fifty day simple moving average of $107.32 and a 200 day simple moving average of $108.78. The firm has a market cap of $23.58 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 2.15 and a beta of 1.16. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $130.05. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.22. The business had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.16 billion. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The business’s revenue was down .9% on a year-over-year basis. During the same period last year, the business earned $2.50 EPS. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Equities research analysts expect that PPG Industries, Inc. will post 7.95 EPS 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 issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Monday, November 10th. PPG Industries’s dividend payout ratio (DPR) is currently 64.40%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PPG shares. JPMorgan Chase & Co. raised shares of PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 price target on the stock in a research note on Thursday, October 16th. Mizuho cut their target price on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. UBS Group cut their target price on shares of PPG Industries from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Weiss Ratings reissued a “hold (c)” rating on shares of PPG Industries in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company cut their target price on shares of PPG Industries from $135.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, October 10th. One equities research 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $125.00.

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.