KBC Group NV Sells 7,478 Shares of PPG Industries, Inc. $PPG

KBC Group NV reduced its position in shares of PPG Industries, Inc. (NYSE:PPG) by 2.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 325,489 shares of the specialty chemicals company’s stock after selling 7,478 shares during the quarter. KBC Group NV’s holdings in PPG Industries were worth $37,024,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PPG. Mitsubishi UFJ Trust & Banking Corp increased its holdings in PPG Industries by 163.8% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 278,339 shares of the specialty chemicals company’s stock valued at $31,661,000 after buying an additional 172,825 shares during the last quarter. Nan Fung Trinity HK Ltd. grew its position in shares of PPG Industries by 14.4% during the 2nd quarter. Nan Fung Trinity HK Ltd. now owns 248,100 shares of the specialty chemicals company’s stock valued at $28,221,000 after acquiring an additional 31,300 shares during the period. National Pension Service increased its stake in shares of PPG Industries by 0.7% in the 2nd quarter. National Pension Service now owns 355,854 shares of the specialty chemicals company’s stock worth $40,478,000 after purchasing an additional 2,590 shares in the last quarter. Vise Technologies Inc. purchased a new stake in shares of PPG Industries in the 2nd quarter worth $304,000. Finally, Allworth Financial LP raised its holdings in PPG Industries by 8.9% in the 2nd quarter. Allworth Financial LP now owns 3,580 shares of the specialty chemicals company’s stock worth $407,000 after purchasing an additional 292 shares during the period. Institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Up 1.5%

Shares of PPG opened at $97.37 on Thursday. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $130.05. The company’s fifty day simple moving average is $103.20 and its 200-day simple moving average is $108.74. The company has a market cap of $21.85 billion, a P/E ratio of 22.08, a P/E/G ratio of 2.13 and a beta of 1.19. The company has a current ratio of 1.47, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.04. PPG Industries had a return on equity of 24.17% and a net margin of 6.35%.The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same period in the prior year, the business posted $2.13 earnings per share. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. As a group, analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Monday, November 10th will be issued a $0.71 dividend. The ex-dividend date is Monday, November 10th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. PPG Industries’s payout ratio is presently 64.40%.

Analyst Upgrades and Downgrades

PPG has been the subject of a number of analyst reports. Zacks Research cut PPG Industries from a “hold” rating to a “strong sell” rating in a research report on Monday. Evercore ISI reduced their target price on shares of PPG Industries from $145.00 to $112.00 and set an “in-line” rating for the company in a report on Tuesday. 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 note on Monday, October 6th. Wells Fargo & Company dropped their price target on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Finally, UBS Group reduced their price objective on shares of PPG Industries from $115.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $123.18.

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.