First Eagle Investment Management LLC Increases Stock Holdings in PPG Industries, Inc. $PPG

First Eagle Investment Management LLC grew its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 21.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,560,280 shares of the specialty chemicals company’s stock after purchasing an additional 971,799 shares during the quarter. First Eagle Investment Management LLC’s holdings in PPG Industries were worth $632,482,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP raised its stake in PPG Industries by 5.6% during the 1st quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company’s stock worth $1,220,259,000 after acquiring an additional 592,152 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in PPG Industries by 58.3% in the first 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 acquiring an additional 1,766,518 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of PPG Industries by 3.7% during the first quarter. Dimensional Fund Advisors LP now owns 2,937,274 shares of the specialty chemicals company’s stock worth $321,147,000 after purchasing an additional 105,973 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of PPG Industries by 3.2% during the first 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 in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of PPG Industries by 2.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,174,762 shares of the specialty chemicals company’s stock valued at $237,810,000 after purchasing an additional 60,301 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of NYSE PPG opened at $95.13 on Friday. 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 has a market cap of $21.35 billion, a PE ratio of 21.57, a P/E/G ratio of 2.13 and a beta of 1.19. The stock has a fifty day moving average price of $104.31 and a 200 day moving average price of $108.85. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $130.05.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.04. The company had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.06 billion. PPG Industries had a net margin of 6.35% and a return on equity of 24.17%. PPG Industries’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.13 EPS. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Sell-side analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently announced 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 is Monday, November 10th. This represents a $2.84 annualized dividend and a yield of 3.0%. PPG Industries’s payout ratio is presently 64.40%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. UBS Group dropped their price target on PPG Industries from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Bank of America decreased their price objective on PPG Industries from $131.00 to $129.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. 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 report on Friday, October 3rd. Citigroup decreased 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 note on Monday, October 6th. Finally, JPMorgan Chase & Co. raised shares of PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 price objective on the stock in a research report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $124.30.

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.