PPG Industries, Inc. $PPG Shares Sold by Amundi

Amundi trimmed its position in PPG Industries, Inc. (NYSE:PPG) by 18.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 899,093 shares of the specialty chemicals company’s stock after selling 199,931 shares during the quarter. Amundi owned approximately 0.40% of PPG Industries worth $106,623,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Cookson Peirce & Co. Inc. increased its holdings in 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 buying an additional 89 shares during the last quarter. Summit Financial LLC boosted its position in shares of PPG Industries by 1.3% during the 1st quarter. Summit Financial LLC now owns 7,246 shares of the specialty chemicals company’s stock worth $792,000 after acquiring an additional 90 shares in the last quarter. Bell Investment Advisors Inc increased its holdings in shares of PPG Industries by 40.9% in the 1st quarter. Bell Investment Advisors Inc now owns 355 shares of the specialty chemicals company’s stock valued at $39,000 after acquiring an additional 103 shares during the last quarter. Citizens Financial Group Inc. RI increased its stake in PPG Industries by 0.5% in 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 purchasing an additional 107 shares during the last quarter. Finally, Groupe la Francaise raised its stake in PPG Industries by 8.9% during the 2nd quarter. Groupe la Francaise now owns 1,304 shares of the specialty chemicals company’s stock worth $148,000 after acquiring an additional 107 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Performance

Shares of PPG stock opened at $101.06 on Monday. The company has a current ratio of 1.47, a quick ratio of 1.08 and a debt-to-equity ratio of 0.74. The stock has a 50 day simple moving average of $99.79 and a 200-day simple moving average of $107.33. The company has a market cap of $22.68 billion, a price-to-earnings ratio of 22.92, a price-to-earnings-growth ratio of 2.77 and a beta of 1.16. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $130.05.

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 the consensus estimate of $4.06 billion. PPG Industries had a return on equity of 23.61% and a net margin of 6.35%.PPG Industries’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.13 earnings per share. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. On average, equities analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Monday, November 10th will be given 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 dividend payout ratio is presently 64.40%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on PPG shares. JPMorgan Chase & Co. upped their target price on shares of PPG Industries from $112.00 to $117.00 and gave the company an “overweight” rating in a report on Friday, November 21st. UBS Group reduced their price objective on PPG Industries from $115.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. Wells Fargo & Company lowered their target price on PPG Industries from $132.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Bank of America cut their price target on PPG Industries from $131.00 to $129.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Finally, Zacks Research downgraded PPG Industries from a “hold” rating to a “strong sell” rating in a report on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $122.54.

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.