Nordea Investment Management AB Purchases 938 Shares of PPG Industries, Inc. $PPG

Nordea Investment Management AB increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 4.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,416 shares of the specialty chemicals company’s stock after acquiring an additional 938 shares during the quarter. Nordea Investment Management AB’s holdings in PPG Industries were worth $2,324,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PPG. Price T Rowe Associates Inc. MD raised its position in shares of PPG Industries by 58.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company’s stock valued at $524,627,000 after purchasing an additional 1,766,518 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in PPG Industries during the 1st quarter valued at approximately $127,152,000. Pzena Investment Management LLC purchased a new position in shares of PPG Industries in the first quarter worth $105,349,000. Nuveen LLC acquired a new stake in shares of PPG Industries during the first quarter worth $79,881,000. Finally, Wellington Management Group LLP grew its holdings in shares of PPG Industries by 5.6% during the first quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company’s stock valued at $1,220,259,000 after buying an additional 592,152 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Performance

Shares of PPG stock opened at $102.05 on Thursday. The company has a market capitalization of $23.03 billion, a P/E ratio of 23.14, a P/E/G ratio of 2.20 and a beta of 1.16. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $130.05. The business’s 50 day moving average is $107.11 and its two-hundred day moving average is $108.73. 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 (EPS) for the quarter, meeting analysts’ consensus estimates of $2.22. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The firm had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.16 billion. During the same quarter last year, the company earned $2.50 EPS. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Monday, November 10th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, November 10th. PPG Industries’s dividend payout ratio is currently 64.40%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PPG. Bank of America decreased their price objective on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Citigroup decreased their target price 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. 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 report on Thursday, October 16th. Wells Fargo & Company reduced their price objective on PPG Industries from $135.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday, October 10th. Finally, Mizuho decreased their price objective on PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $125.00.

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.