Prudential Financial Inc. Acquires 11,080 Shares of PPG Industries, Inc. $PPG

Prudential Financial Inc. boosted its holdings in PPG Industries, Inc. (NYSE:PPG) by 8.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,143 shares of the specialty chemicals company’s stock after buying an additional 11,080 shares during the period. Prudential Financial Inc. owned approximately 0.06% of PPG Industries worth $15,714,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Cookson Peirce & Co. Inc. grew its position in shares of 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 purchasing an additional 89 shares in the last quarter. Summit Financial LLC grew its holdings in PPG Industries by 1.3% during the 1st 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 in the last quarter. Bell Investment Advisors Inc grew its holdings in PPG Industries by 40.9% during the 1st 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 in the last quarter. Citizens Financial Group Inc. RI increased its position in shares of PPG Industries by 0.5% during the second quarter. Citizens Financial Group Inc. RI now owns 22,716 shares of the specialty chemicals company’s stock valued at $2,584,000 after buying an additional 107 shares during the period. Finally, Commonwealth Financial Services LLC lifted its holdings in shares of PPG Industries by 0.8% in the first quarter. Commonwealth Financial Services LLC now owns 15,005 shares of the specialty chemicals company’s stock worth $1,641,000 after buying an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PPG shares. Bank of America reduced their price objective on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Wells Fargo & Company reduced their price target on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Royal Bank Of Canada increased their price objective on PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Friday, August 1st. 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. Finally, JPMorgan Chase & Co. upped their target price on PPG Industries from $112.00 to $117.00 and gave the stock an “overweight” rating in a research note on Friday, November 21st. One investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $123.64.

PPG Industries Stock Performance

NYSE:PPG opened at $100.00 on Thursday. The business has a 50 day moving average of $100.66 and a 200 day moving average of $107.99. The company has a market capitalization 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 1-year low of $90.24 and a 1-year 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.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 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 analysts’ expectations of $4.06 billion. PPG Industries had a net margin of 6.35% and a return on equity of 24.17%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the business earned $2.13 earnings per share. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. On average, sell-side analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders 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 yield of 2.8%. PPG Industries’s payout ratio is currently 64.40%.

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.