IFM Investors Pty Ltd Trims Stock Holdings in PPG Industries, Inc. $PPG

IFM Investors Pty Ltd reduced its stake in PPG Industries, Inc. (NYSE:PPG) by 2.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 67,297 shares of the specialty chemicals company’s stock after selling 1,935 shares during the quarter. IFM Investors Pty Ltd’s holdings in PPG Industries were worth $7,359,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Park Square Financial Group LLC acquired a new position in shares of PPG Industries in the fourth quarter valued at approximately $26,000. Cheviot Value Management LLC acquired a new position in shares of PPG Industries in the first quarter valued at approximately $26,000. CVA Family Office LLC increased its holdings in shares of PPG Industries by 70.6% in the first quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 113 shares during the period. Headlands Technologies LLC acquired a new position in shares of PPG Industries in the first quarter valued at approximately $30,000. Finally, Financial Connections Group Inc. increased its holdings in shares of PPG Industries by 74.6% in the first quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company’s stock valued at $38,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analysts Set New Price Targets

PPG has been the topic of a number of recent research reports. UBS Group boosted their target price on PPG Industries from $111.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday, July 9th. Citigroup lifted their price objective on PPG Industries from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, June 13th. Mizuho boosted their target price on PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. 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 note on Friday, August 1st. Finally, Wells Fargo & Company lifted their price target on PPG Industries from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $129.82.

PPG Industries Stock Down 0.5%

PPG Industries stock opened at $108.87 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.04. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $137.24. The company has a market cap of $24.57 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 2.26 and a beta of 1.14. The stock’s 50 day moving average price is $112.06 and its 200 day moving average price is $110.21.

PPG Industries (NYSE:PPG) last posted 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. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The firm had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same period in the previous year, the business earned $2.50 earnings per share. The company’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. On average, sell-side analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Monday, August 11th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 11th. This is an increase from PPG Industries’s previous quarterly dividend of $0.68. PPG Industries’s dividend payout ratio (DPR) is 64.40%.

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.