Tobam Takes Position in PPG Industries, Inc. $PPG

Tobam acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 553 shares of the specialty chemicals company’s stock, valued at approximately $63,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PPG. Brighton Jones LLC lifted its position in shares of PPG Industries by 9.1% in the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock worth $487,000 after purchasing an additional 339 shares in the last quarter. New York State Common Retirement Fund increased its stake in PPG Industries by 4.1% in the 1st quarter. New York State Common Retirement Fund now owns 187,395 shares of the specialty chemicals company’s stock valued at $20,492,000 after buying an additional 7,355 shares during the last quarter. Wealthfront Advisers LLC lifted its position in PPG Industries by 53.8% during the 1st quarter. Wealthfront Advisers LLC now owns 34,340 shares of the specialty chemicals company’s stock worth $3,755,000 after buying an additional 12,008 shares in the last quarter. Larson Financial Group LLC lifted its position in PPG Industries by 18.7% during the 1st quarter. Larson Financial Group LLC now owns 5,331 shares of the specialty chemicals company’s stock worth $583,000 after buying an additional 838 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of PPG Industries by 1.1% during the 1st quarter. Victory Capital Management Inc. now owns 446,473 shares of the specialty chemicals company’s stock worth $48,822,000 after buying an additional 4,941 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Up 1.5%

PPG stock opened at $97.37 on Thursday. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $130.05. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.47 and a quick ratio of 1.04. The stock has a market capitalization of $21.85 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 2.13 and a beta of 1.19. The business’s fifty day moving average price is $103.20 and its two-hundred day moving average price is $108.74.

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

PPG Industries Announces Dividend

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

Wall Street Analysts Forecast Growth

PPG has been the topic of a number of recent research reports. Bank of America lowered their target price on PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Citigroup lowered their price target on PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, October 6th. Royal Bank Of Canada increased their price objective on PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a report on Friday, August 1st. Weiss Ratings restated a “hold (c-)” rating on shares of PPG Industries in a report on Friday, October 31st. Finally, Zacks Research cut shares of PPG Industries from a “hold” rating to a “strong sell” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, PPG Industries currently has an average rating of “Hold” and an average price target of $123.18.

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.