First National Bank & Trust Co. of Newtown Reduces Position in PPG Industries, Inc. $PPG

First National Bank & Trust Co. of Newtown lessened its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,395 shares of the specialty chemicals company’s stock after selling 100 shares during the period. First National Bank & Trust Co. of Newtown’s holdings in PPG Industries were worth $272,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Envestnet Asset Management Inc. boosted its position in shares of PPG Industries by 0.7% during the first quarter. Envestnet Asset Management Inc. now owns 249,755 shares of the specialty chemicals company’s stock valued at $27,311,000 after buying an additional 1,697 shares during the period. Clear Creek Financial Management LLC purchased a new position in shares of PPG Industries during the first quarter valued at approximately $240,000. Principal Financial Group Inc. boosted its position in shares of PPG Industries by 4.4% during the first quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company’s stock valued at $33,129,000 after buying an additional 12,650 shares during the period. Meridian Wealth Management LLC boosted its position in shares of PPG Industries by 311.2% during the first quarter. Meridian Wealth Management LLC now owns 7,665 shares of the specialty chemicals company’s stock valued at $838,000 after buying an additional 5,801 shares during the period. Finally, Golden State Wealth Management LLC boosted its position in shares of PPG Industries by 966.3% during the first quarter. Golden State Wealth Management LLC now owns 885 shares of the specialty chemicals company’s stock valued at $97,000 after buying an additional 802 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PPG shares. Wells Fargo & Company boosted their price target on PPG Industries from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. UBS Group boosted their price target on PPG Industries from $111.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday, July 9th. Royal Bank Of Canada boosted their price target on PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a report on Friday, August 1st. Mizuho boosted their price target on PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, July 15th. Finally, Citigroup boosted their price target on PPG Industries from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, PPG Industries currently has an average rating of “Moderate Buy” and a consensus price target of $129.82.

PPG Industries Stock Performance

Shares of PPG stock opened at $104.12 on Thursday. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76. The business’s fifty day simple moving average is $109.28 and its 200-day simple moving average is $109.58. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $132.18. The company has a market cap of $23.50 billion, a PE ratio of 23.61, a PEG ratio of 2.18 and a beta of 1.16.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, meeting the consensus estimate of $2.22. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same period in the prior year, the company earned $2.50 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Monday, August 11th were given a dividend of $0.71 per share. This is a boost from PPG Industries’s previous quarterly dividend of $0.68. The ex-dividend date was Monday, August 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.7%. PPG Industries’s payout ratio is currently 64.40%.

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.