PPG Industries, Inc. $PPG Shares Purchased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in PPG Industries, Inc. (NYSE:PPG) by 4.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 29,239 shares of the specialty chemicals company’s stock after buying an additional 1,360 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in PPG Industries were worth $3,197,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its position in shares of PPG Industries by 0.7% in the first quarter. Envestnet Asset Management Inc. now owns 249,755 shares of the specialty chemicals company’s stock valued at $27,311,000 after purchasing an additional 1,697 shares during the last quarter. Clear Creek Financial Management LLC purchased a new position in shares of PPG Industries during the first quarter valued at approximately $240,000. Principal Financial Group Inc. raised its stake in PPG Industries by 4.4% during the first quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company’s stock worth $33,129,000 after purchasing an additional 12,650 shares during the period. Meridian Wealth Management LLC raised its stake in shares of PPG Industries by 311.2% in the 1st quarter. Meridian Wealth Management LLC now owns 7,665 shares of the specialty chemicals company’s stock valued at $838,000 after acquiring an additional 5,801 shares during the period. Finally, Golden State Wealth Management LLC raised its stake in shares of PPG Industries by 966.3% in the 1st quarter. Golden State Wealth Management LLC now owns 885 shares of the specialty chemicals company’s stock valued at $97,000 after acquiring an additional 802 shares during the period. 81.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PPG has been the topic of a number of recent research reports. Mizuho raised their target price on shares of PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Wells Fargo & Company upped their price target on shares of PPG Industries from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Citigroup increased their target price on shares of PPG Industries from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, June 13th. Royal Bank Of Canada boosted their price target on shares of PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a report on Friday, August 1st. Finally, UBS Group boosted their price target on shares of PPG Industries from $111.00 to $125.00 and gave the company a “neutral” rating in a report on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $129.82.

PPG Industries Stock Performance

Shares of PPG opened at $110.79 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24. The firm’s 50 day moving average price is $111.78 and its two-hundred day moving average price is $110.17. The firm has a market cap of $25.00 billion, a P/E ratio of 25.12, a PEG ratio of 2.31 and a beta of 1.14.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, meeting the consensus estimate of $2.22. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The firm had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same period in the previous year, the company earned $2.50 earnings per share. The company’s quarterly revenue was down .9% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Monday, August 11th were issued a $0.71 dividend. The ex-dividend date was Monday, August 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase from PPG Industries’s previous quarterly dividend of $0.68. PPG Industries’s dividend payout ratio (DPR) is 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.