Aberdeen Group plc Has $27.79 Million Position in PPG Industries, Inc. $PPG

Aberdeen Group plc raised its position in PPG Industries, Inc. (NYSE:PPG) by 7.2% in the second quarter, HoldingsChannel.com reports. The fund owned 245,163 shares of the specialty chemicals company’s stock after purchasing an additional 16,389 shares during the quarter. Aberdeen Group plc’s holdings in PPG Industries were worth $27,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its stake in PPG Industries by 0.7% in 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 acquiring an additional 1,697 shares during the last quarter. Clear Creek Financial Management LLC acquired a new stake in shares of PPG Industries during the 1st quarter worth about $240,000. Principal Financial Group Inc. lifted its stake in shares of PPG Industries by 4.4% during the 1st quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company’s stock worth $33,129,000 after buying an additional 12,650 shares during the last quarter. Meridian Wealth Management LLC lifted its stake in shares of PPG Industries by 311.2% during the 1st quarter. Meridian Wealth Management LLC now owns 7,665 shares of the specialty chemicals company’s stock worth $838,000 after buying an additional 5,801 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its stake in shares of PPG Industries by 966.3% during the 1st quarter. Golden State Wealth Management LLC now owns 885 shares of the specialty chemicals company’s stock worth $97,000 after buying an additional 802 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Price Performance

NYSE:PPG opened at $98.83 on Tuesday. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $132.18. The firm has a market cap of $22.31 billion, a price-to-earnings ratio of 22.41, a P/E/G ratio of 2.04 and a beta of 1.16. The firm’s 50-day simple moving average is $107.95 and its 200 day simple moving average is $109.00. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42.

PPG Industries (NYSE:PPG) last released its 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 firm had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same period last year, the firm earned $2.50 EPS. The business’s quarterly revenue was down .9% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. As a group, sell-side analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Monday, August 11th were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $2.84 annualized dividend and a yield of 2.9%. This is an increase from PPG Industries’s previous quarterly dividend of $0.68. PPG Industries’s payout ratio is 64.40%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. UBS Group cut their target price on shares of PPG Industries from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Weiss Ratings restated a “hold (c)” rating on shares of PPG Industries in a research note on Wednesday, October 8th. Wells Fargo & Company cut their target price on shares of PPG Industries from $135.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday. Mizuho cut their target price on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Finally, Citigroup cut their target price 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. One investment 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’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.82.

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.