PPG Industries, Inc. $PPG Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. trimmed its position in PPG Industries, Inc. (NYSE:PPG) by 0.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,368,858 shares of the specialty chemicals company’s stock after selling 23,323 shares during the quarter. Franklin Resources Inc. owned approximately 1.49% of PPG Industries worth $383,208,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC increased its stake 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 acquired a new position in shares of PPG Industries in the 1st quarter valued at about $26,000. Gladwyn Financial Advisors Inc. bought a new stake in shares of PPG Industries during the 2nd quarter valued at about $31,000. Headlands Technologies LLC acquired a new stake in PPG Industries during the first quarter worth about $30,000. Finally, Rothschild Investment LLC lifted its holdings in PPG Industries by 184.0% in the second quarter. Rothschild Investment LLC now owns 284 shares of the specialty chemicals company’s stock worth $32,000 after acquiring an additional 184 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Trading Up 3.8%

NYSE:PPG opened at $98.79 on Friday. The stock has a market cap of $22.17 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 2.13 and a beta of 1.19. 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 1 year low of $90.24 and a 1 year high of $130.05. The business has a fifty day moving average of $101.25 and a 200-day moving average of $108.19.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.04. The business had revenue of $4.08 billion for 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%. The company’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.13 earnings per share. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Equities analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PPG. Citigroup dropped their price target on PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, October 6th. Royal Bank Of Canada increased their target price on PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Friday, August 1st. Evercore ISI cut their target price on PPG Industries from $145.00 to $112.00 and set an “in-line” rating on the stock in a research note on Tuesday, November 11th. Bank of America lowered their price target on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Finally, Mizuho dropped their price objective 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. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $123.64.

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.