Stevens Capital Management LP Takes Position in PPG Industries, Inc. $PPG

Stevens Capital Management LP bought a new position in PPG Industries, Inc. (NYSE:PPG) in the 2nd quarter, Holdings Channel.com reports. The fund bought 3,867 shares of the specialty chemicals company’s stock, valued at approximately $440,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of PPG Industries by 0.7% in the second quarter. Vanguard Group Inc. now owns 29,265,369 shares of the specialty chemicals company’s stock worth $3,328,936,000 after acquiring an additional 192,560 shares during the period. Wellington Management Group LLP lifted its holdings in shares of PPG Industries by 5.6% in the first quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company’s stock worth $1,220,259,000 after buying an additional 592,152 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of PPG Industries by 21.2% during the second quarter. First Eagle Investment Management LLC now owns 5,560,280 shares of the specialty chemicals company’s stock worth $632,482,000 after acquiring an additional 971,799 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in PPG Industries by 58.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company’s stock valued at $524,627,000 after acquiring an additional 1,766,518 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in PPG Industries by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,937,274 shares of the specialty chemicals company’s stock valued at $321,147,000 after acquiring an additional 105,973 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

PPG Industries Stock Performance

PPG opened at $98.79 on Friday. The firm has a market capitalization of $22.17 billion, a PE ratio of 22.40, a P/E/G ratio of 2.13 and a beta of 1.19. The firm has a 50 day moving average of $101.25 and a two-hundred day moving average of $108.18. 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, Inc. has a 12-month low of $90.24 and a 12-month high of $130.05.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.04. The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.06 billion. PPG Industries had a net margin of 6.35% and a return on equity of 24.17%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.13 earnings per share. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. On average, analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

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 issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, November 10th. PPG Industries’s payout ratio is presently 64.40%.

Wall Street Analysts Forecast Growth

PPG has been the subject of several research reports. Mizuho dropped their price objective on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. Zacks Research lowered PPG Industries from a “hold” rating to a “strong sell” rating in a report on Monday, November 10th. Evercore ISI reduced their price target on PPG Industries from $145.00 to $112.00 and set an “in-line” rating on the stock in a report on Tuesday, November 11th. Wells Fargo & Company dropped their target price on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Finally, UBS Group lowered their price target on PPG Industries from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $123.64.

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.