Thurston Springer Miller Herd & Titak Inc. Sells 13,461 Shares of PPG Industries, Inc. $PPG

Thurston Springer Miller Herd & Titak Inc. trimmed its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 89.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,529 shares of the specialty chemicals company’s stock after selling 13,461 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in PPG Industries were worth $161,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of PPG Industries during the second quarter worth about $362,412,000. Price T Rowe Associates Inc. MD lifted its position in PPG Industries by 58.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company’s stock valued at $524,627,000 after purchasing an additional 1,766,518 shares during the last quarter. Holocene Advisors LP grew its stake in PPG Industries by 342.8% in the 2nd quarter. Holocene Advisors LP now owns 1,688,870 shares of the specialty chemicals company’s stock worth $192,109,000 after buying an additional 1,307,468 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in shares of PPG Industries in the 1st quarter worth $127,152,000. Finally, First Eagle Investment Management LLC raised its position in shares of PPG Industries by 21.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 5,560,280 shares of the specialty chemicals company’s stock valued at $632,482,000 after buying an additional 971,799 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Up 0.1%

NYSE:PPG opened at $103.82 on Wednesday. The company has a 50-day moving average price of $99.53 and a 200-day moving average price of $106.89. The stock has a market cap of $23.30 billion, a price-to-earnings ratio of 23.54, a P/E/G ratio of 2.85 and a beta of 1.16. The company has a current ratio of 1.47, a quick ratio of 1.08 and a debt-to-equity ratio of 0.74. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $124.81.

PPG Industries (NYSE:PPG) last released its 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 company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.06 billion. PPG Industries had a return on equity of 23.61% and a net margin of 6.35%.The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.13 EPS. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Equities analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Monday, November 10th were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.7%. PPG Industries’s dividend payout ratio (DPR) is currently 64.40%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PPG shares. Zacks Research lowered shares of PPG Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, November 10th. Evercore ISI cut their price objective on PPG Industries from $145.00 to $112.00 and set an “in-line” rating for the company in a report on Tuesday, November 11th. Wells Fargo & Company reduced their price objective on PPG Industries from $132.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. JPMorgan Chase & Co. boosted their target price on PPG Industries from $112.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st. Finally, UBS Group cut their price objective on shares of PPG Industries from $115.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $122.54.

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.