Armstrong Fleming & Moore Inc Invests $210,000 in PPG Industries, Inc. $PPG

Armstrong Fleming & Moore Inc bought a new position in shares of PPG Industries, Inc. (NYSE:PPG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,843 shares of the specialty chemicals company’s stock, valued at approximately $210,000.

Several other large investors also recently bought and sold shares of PPG. Price T Rowe Associates Inc. MD grew its position in PPG Industries by 58.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company’s stock worth $524,627,000 after purchasing an additional 1,766,518 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in PPG Industries during the 1st quarter valued at approximately $127,152,000. Pzena Investment Management LLC acquired a new stake in PPG Industries during the 1st quarter valued at approximately $105,349,000. Nuveen LLC acquired a new stake in PPG Industries during the 1st quarter valued at approximately $79,881,000. Finally, Wellington Management Group LLP lifted its stake in PPG Industries by 5.6% during the 1st quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company’s stock valued at $1,220,259,000 after acquiring an additional 592,152 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PPG. UBS Group decreased their price objective on shares of PPG Industries from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Monday. Wells Fargo & Company lifted their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. Mizuho decreased their price objective on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Royal Bank Of Canada boosted their target price on shares of PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a research note on Friday, August 1st. Finally, Citigroup decreased their target price on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, PPG Industries has an average rating of “Moderate Buy” and an average target price of $127.09.

PPG Industries Price Performance

Shares of NYSE PPG opened at $101.49 on Thursday. The firm has a market cap of $22.91 billion, a PE ratio of 23.01, a PEG ratio of 2.11 and a beta of 1.16. The firm has a fifty day moving average of $108.30 and a 200 day moving average of $109.26. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $132.18.

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

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, August 11th were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, August 11th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.68. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.8%. PPG Industries’s payout ratio 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.