Sachetta LLC Sells 270 Shares of PPG Industries, Inc. $PPG

Sachetta LLC reduced its holdings in PPG Industries, Inc. (NYSE:PPG) by 39.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 408 shares of the specialty chemicals company’s stock after selling 270 shares during the period. Sachetta LLC’s holdings in PPG Industries were worth $46,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Cheviot Value Management LLC bought a new position in PPG Industries in the 1st quarter worth approximately $26,000. CVA Family Office LLC increased its position 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 buying an additional 113 shares during the period. Headlands Technologies LLC bought a new position in PPG Industries in the 1st quarter worth approximately $30,000. Financial Connections Group Inc. grew its holdings in shares of PPG Industries by 74.6% during the 1st quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. Finally, Bell Investment Advisors Inc grew its holdings in shares of PPG Industries by 40.9% during the 1st quarter. Bell Investment Advisors Inc now owns 355 shares of the specialty chemicals company’s stock worth $39,000 after purchasing an additional 103 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on PPG shares. Mizuho decreased their price objective on PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Wells Fargo & Company lifted their price objective on PPG Industries from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Weiss Ratings reissued a “hold (c)” rating on shares of PPG Industries in a report on Saturday, September 27th. Royal Bank Of Canada lifted their price objective on PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a report on Friday, August 1st. Finally, Citigroup decreased their price objective on PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $127.09.

PPG Industries Trading Down 1.7%

NYSE PPG opened at $101.73 on Wednesday. The stock has a 50-day simple moving average of $108.40 and a 200 day simple moving average of $109.31. The company has a market capitalization of $22.96 billion, a PE ratio of 23.07, a P/E/G ratio of 2.15 and a beta of 1.16. The company has a current ratio of 1.42, 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 $132.18.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, meeting analysts’ consensus estimates of $2.22. The business 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%.The firm’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.50 earnings per share. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Monday, August 11th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.8%. This is an increase from PPG Industries’s previous quarterly dividend of $0.68. The ex-dividend date was Monday, August 11th. PPG Industries’s dividend payout ratio is currently 64.40%.

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.