Elo Mutual Pension Insurance Co Trims Stock Holdings in PPG Industries, Inc. $PPG

Elo Mutual Pension Insurance Co reduced its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 17.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,640 shares of the specialty chemicals company’s stock after selling 5,555 shares during the period. Elo Mutual Pension Insurance Co’s holdings in PPG Industries were worth $2,917,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC lifted its holdings in PPG Industries by 127.6% during the second quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 125 shares in the last quarter. Cheviot Value Management LLC bought a new stake in shares of PPG Industries during the 1st quarter valued at $26,000. Gladwyn Financial Advisors Inc. purchased a new position in shares of PPG Industries during the 2nd quarter valued at $31,000. Headlands Technologies LLC bought a new position in PPG Industries in the 1st quarter worth $30,000. Finally, Rothschild Investment LLC increased its stake in PPG Industries by 184.0% in the 2nd quarter. Rothschild Investment LLC now owns 284 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 184 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Up 0.4%

Shares of NYSE:PPG opened at $100.00 on Thursday. The company has a market cap of $22.44 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 2.13 and a beta of 1.19. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $130.05. The company has a current ratio of 1.47, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76. The company has a 50-day moving average price of $100.66 and a 200 day moving average price of $107.99.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.04. The business had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.06 billion. PPG Industries had a return on equity of 24.17% and a net margin of 6.35%.The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.13 earnings per share. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. As a group, equities research analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, November 10th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.84 annualized dividend and a dividend yield of 2.8%. PPG Industries’s dividend payout ratio is currently 64.40%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PPG. Citigroup dropped their price objective on PPG Industries from $124.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, October 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of PPG Industries in a report on Friday, October 31st. Bank of America cut their price objective on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Wells Fargo & Company reduced their price objective on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Finally, Mizuho dropped their target price on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, PPG Industries has a consensus rating of “Hold” and a consensus price target of $123.64.

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.