Beutel Goodman & Co Ltd. Sells 55,494 Shares of PPG Industries, Inc. $PPG

Beutel Goodman & Co Ltd. lessened its holdings in PPG Industries, Inc. (NYSE:PPG) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,729,174 shares of the specialty chemicals company’s stock after selling 55,494 shares during the period. PPG Industries makes up about 2.4% of Beutel Goodman & Co Ltd.’s investment portfolio, making the stock its 12th largest position. Beutel Goodman & Co Ltd. owned about 1.65% of PPG Industries worth $424,193,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cookson Peirce & Co. Inc. boosted its stake in shares of PPG Industries by 1.9% during the 1st quarter. Cookson Peirce & Co. Inc. now owns 4,862 shares of the specialty chemicals company’s stock worth $532,000 after purchasing an additional 89 shares during the period. Summit Financial LLC lifted its stake in PPG Industries by 1.3% in the first quarter. Summit Financial LLC now owns 7,246 shares of the specialty chemicals company’s stock worth $792,000 after purchasing an additional 90 shares during the last quarter. Bell Investment Advisors Inc lifted its stake in PPG Industries by 40.9% in the first quarter. Bell Investment Advisors Inc now owns 355 shares of the specialty chemicals company’s stock worth $39,000 after purchasing an additional 103 shares during the last quarter. Citizens Financial Group Inc. RI boosted 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, Groupe la Francaise grew its stake in shares of PPG Industries by 8.9% during the second quarter. Groupe la Francaise now owns 1,304 shares of the specialty chemicals company’s stock valued at $148,000 after buying an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PPG shares. UBS Group lowered their target price 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. Zacks Research cut shares of PPG Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, November 10th. Wells Fargo & Company dropped their target price on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Sanford C. Bernstein lowered their target price on PPG Industries from $129.00 to $123.00 and set an “outperform” rating for the company in a report on Monday, November 24th. Finally, Mizuho lowered their price target 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, seven have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, PPG Industries presently has an average rating of “Hold” and a consensus price target of $123.58.

PPG Industries Stock Down 0.7%

PPG Industries stock opened at $100.66 on Friday. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $130.05. The business has a fifty day moving average price of $99.84 and a 200-day moving average price of $107.49. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.08. The stock has a market capitalization of $22.59 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 2.78 and a beta of 1.16.

PPG Industries (NYSE:PPG) last announced its earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.04. The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.06 billion. PPG Industries had a return on equity of 23.61% and a net margin of 6.35%.The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.13 EPS. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Equities research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company 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 dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.8%. The ex-dividend date is Monday, November 10th. PPG Industries’s payout ratio is presently 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.