Hartford Investment Management Co. Decreases Stock Position in PPG Industries, Inc. $PPG

Hartford Investment Management Co. lessened its stake in PPG Industries, Inc. (NYSE:PPG) by 3.9% in the second quarter, Holdings Channel reports. The fund owned 13,609 shares of the specialty chemicals company’s stock after selling 553 shares during the quarter. Hartford Investment Management Co.’s holdings in PPG Industries were worth $1,548,000 as of its most recent SEC filing.

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

PPG Industries Stock Performance

PPG stock opened at $103.54 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76. The firm has a market cap of $23.37 billion, a P/E ratio of 23.48, a P/E/G ratio of 2.15 and a beta of 1.14. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $137.24. The stock’s 50 day simple moving average is $109.95 and its 200 day simple moving average is $109.73.

PPG Industries (NYSE:PPG) last posted 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 business had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.16 billion. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The business’s revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.50 EPS. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. As a group, equities research analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on PPG. Citigroup upped their price target on PPG Industries from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, June 13th. UBS Group upped their target price on PPG Industries from $111.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, July 9th. Wells Fargo & Company upped their target price on PPG Industries from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, July 1st. Royal Bank Of Canada upped their target price on PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a research report on Friday, August 1st. Finally, Mizuho upped their target price on PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $129.82.

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.