OLD Point Trust & Financial Services N A Sells 300 Shares of PPG Industries, Inc. $PPG

OLD Point Trust & Financial Services N A lessened its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 7.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,550 shares of the specialty chemicals company’s stock after selling 300 shares during the period. OLD Point Trust & Financial Services N A’s holdings in PPG Industries were worth $404,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Capital Advisors Ltd. LLC boosted its stake in PPG Industries by 127.6% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 125 shares in the last quarter. Cheviot Value Management LLC purchased a new stake in PPG Industries during the 1st quarter valued at about $26,000. Gladwyn Financial Advisors Inc. purchased a new stake in PPG Industries during the 2nd quarter valued at about $31,000. Headlands Technologies LLC bought a new position in PPG Industries during the 1st quarter valued at about $30,000. Finally, Financial Connections Group Inc. lifted its stake 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 valued at $38,000 after acquiring an additional 150 shares during the period. Institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on PPG shares. Wells Fargo & Company lowered their target price on shares of PPG Industries from $135.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, October 10th. Royal Bank Of Canada increased their price objective on shares of PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a research note on Friday, August 1st. Bank of America lowered their price objective on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Citigroup lowered their price objective on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of PPG Industries in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $125.00.

PPG Industries Stock Down 2.2%

Shares of PPG opened at $102.05 on Thursday. The company has a market cap of $23.03 billion, a PE ratio of 23.14, a P/E/G ratio of 2.20 and a beta of 1.16. The business has a fifty day moving average of $107.11 and a 200 day moving average of $108.73. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $130.05. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76.

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

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Monday, November 10th will be given a $0.71 dividend. The ex-dividend date is Monday, November 10th. This represents a $2.84 dividend on an annualized basis and a yield of 2.8%. PPG Industries’s dividend payout ratio (DPR) is currently 64.40%.

PPG Industries Company 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.