Johnson Investment Counsel Inc. Has $3.18 Million Stake in PPG Industries, Inc. $PPG

Johnson Investment Counsel Inc. reduced its position in shares of PPG Industries, Inc. (NYSE:PPG) by 46.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 27,975 shares of the specialty chemicals company’s stock after selling 24,028 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in PPG Industries were worth $3,182,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PPG. Cookson Peirce & Co. Inc. raised its stake in PPG Industries by 1.9% in the first quarter. Cookson Peirce & Co. Inc. now owns 4,862 shares of the specialty chemicals company’s stock valued at $532,000 after buying an additional 89 shares during the period. Summit Financial LLC raised its stake in PPG Industries by 1.3% in the first quarter. Summit Financial LLC now owns 7,246 shares of the specialty chemicals company’s stock valued at $792,000 after buying an additional 90 shares during the period. Conning Inc. raised its stake in PPG Industries by 5.5% in the first quarter. Conning Inc. now owns 1,881 shares of the specialty chemicals company’s stock valued at $206,000 after buying an additional 98 shares during the period. Beacon Capital Management LLC raised its stake in PPG Industries by 37.1% in the first quarter. Beacon Capital Management LLC now owns 373 shares of the specialty chemicals company’s stock valued at $41,000 after buying an additional 101 shares during the period. Finally, Bell Investment Advisors Inc raised its stake in PPG Industries by 40.9% in the first quarter. Bell Investment Advisors Inc now owns 355 shares of the specialty chemicals company’s stock valued at $39,000 after buying an additional 103 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PPG shares. Citigroup dropped their price objective on 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 lowered their target price on PPG Industries from $135.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday. UBS Group lowered their target price on PPG Industries from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Mizuho lowered their target price on PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Finally, Royal Bank Of Canada increased their target price on PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and a consensus price target of $126.82.

PPG Industries Trading Down 1.2%

Shares of NYSE:PPG opened at $98.45 on Monday. The company has a market capitalization of $22.22 billion, a P/E ratio of 22.32, a P/E/G ratio of 2.04 and a beta of 1.16. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $132.18. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.04. The business’s 50 day simple moving average is $108.07 and its 200 day simple moving average is $109.06.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.22. The business had revenue of $4.20 billion for 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 quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.50 earnings per share. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, research analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Increases Dividend

The business 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. This is an increase from PPG Industries’s previous quarterly dividend of $0.68. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Monday, August 11th. PPG Industries’s dividend payout ratio (DPR) 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.