Godsey & Gibb Inc. Has $180,000 Position in PPG Industries, Inc. $PPG

Godsey & Gibb Inc. cut its holdings in PPG Industries, Inc. (NYSE:PPG) by 17.1% during the second quarter, Holdings Channel.com reports. The fund owned 1,580 shares of the specialty chemicals company’s stock after selling 325 shares during the period. Godsey & Gibb Inc.’s holdings in PPG Industries were worth $180,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cheviot Value Management LLC bought a new position in shares of PPG Industries during the first quarter worth $26,000. CVA Family Office LLC lifted its position in PPG Industries by 70.6% during the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company’s stock worth $30,000 after buying an additional 113 shares in the last quarter. Headlands Technologies LLC bought a new stake in PPG Industries during the 1st quarter worth about $30,000. Financial Connections Group Inc. lifted its position in PPG Industries by 74.6% during the 1st quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company’s stock worth $38,000 after buying an additional 150 shares in the last quarter. Finally, Bell Investment Advisors Inc raised its holdings in shares of PPG Industries by 40.9% in the 1st quarter. Bell Investment Advisors Inc now owns 355 shares of the specialty chemicals company’s stock valued at $39,000 after purchasing an additional 103 shares during the period. 81.86% of the stock is owned by institutional investors.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $103.59 on Tuesday. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $132.18. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.04. The firm has a market capitalization of $23.38 billion, a P/E ratio of 23.49, a P/E/G ratio of 2.16 and a beta of 1.16. The company’s 50 day moving average price is $108.62 and its two-hundred day moving average price is $109.36.

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

PPG Industries Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PPG. Mizuho lowered their price target on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday. UBS Group decreased their target price on shares of PPG Industries from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Monday. Citigroup decreased their target price on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday. Royal Bank Of Canada increased their target price on shares of PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company increased their target price on shares of PPG Industries from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, PPG Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.09.

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.