Geode Capital Management LLC Cuts Holdings in PPG Industries, Inc. $PPG

Geode Capital Management LLC cut its position in shares of PPG Industries, Inc. (NYSE:PPG) by 0.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,770,622 shares of the specialty chemicals company’s stock after selling 1,411 shares during the period. Geode Capital Management LLC’s holdings in PPG Industries were worth $653,617,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC lifted its position in PPG Industries by 127.6% during the second quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 125 shares during the last quarter. Cheviot Value Management LLC bought a new position in PPG Industries during the 1st quarter valued at about $26,000. Gladwyn Financial Advisors Inc. purchased a new stake in shares of PPG Industries in the second quarter worth approximately $31,000. Headlands Technologies LLC purchased a new position in PPG Industries in the 1st quarter worth about $30,000. Finally, Addison Advisors LLC raised its stake in shares of PPG Industries by 1,515.8% during the second quarter. Addison Advisors LLC now owns 307 shares of the specialty chemicals company’s stock valued at $35,000 after acquiring an additional 288 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Wells Fargo & Company lowered their target price on PPG Industries from $132.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Citigroup lowered their price objective 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. Zacks Research downgraded shares of PPG Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, November 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of PPG Industries in a research note on Friday, October 31st. Finally, Evercore ISI reduced their price objective on shares of PPG Industries from $145.00 to $112.00 and set an “in-line” rating for the company in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $123.18.

PPG Industries Stock Down 1.1%

NYSE:PPG opened at $97.04 on Friday. The company’s 50-day simple moving average is $102.72 and its 200-day simple moving average is $108.63. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.47. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $130.05. The stock has a market capitalization of $21.78 billion, a P/E ratio of 22.00, a P/E/G ratio of 2.13 and a beta of 1.19.

PPG Industries (NYSE:PPG) last posted its earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.04. The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.06 billion. PPG Industries had a net margin of 6.35% and a return on equity of 24.17%. PPG Industries’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.13 earnings per share. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. On average, equities analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, November 10th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, November 10th. PPG Industries’s payout ratio is presently 64.40%.

PPG Industries Company 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.