Federated Hermes Inc. Decreases Stock Holdings in PPG Industries, Inc. $PPG

Federated Hermes Inc. lowered its holdings in PPG Industries, Inc. (NYSE:PPG) by 59.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,050 shares of the specialty chemicals company’s stock after selling 176,125 shares during the period. Federated Hermes Inc. owned approximately 0.05% of PPG Industries worth $13,769,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Cookson Peirce & Co. Inc. raised its position 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 purchasing an additional 89 shares during the period. Summit Financial LLC grew its stake in shares of PPG Industries by 1.3% in the first 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 raised its holdings in shares of 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 during the period. Citizens Financial Group Inc. RI lifted its position in PPG Industries by 0.5% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 22,716 shares of the specialty chemicals company’s stock worth $2,584,000 after acquiring an additional 107 shares in the last quarter. Finally, Groupe la Francaise boosted its holdings in PPG Industries by 8.9% in 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 during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Citigroup dropped their price objective on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. Wells Fargo & Company dropped their price target 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. Mizuho decreased their price objective 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. Bank of America lowered their target price 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, Sanford C. Bernstein cut their price target on PPG Industries from $129.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, PPG Industries presently has an average rating of “Hold” and a consensus target price of $122.54.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $100.46 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.47. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $125.71. The firm’s 50-day simple moving average is $99.53 and its 200-day simple moving average is $107.13. The firm has a market cap of $22.54 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 2.73 and a beta of 1.16.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.04. PPG Industries had a return on equity of 23.61% and a net margin of 6.35%.The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.06 billion. During the same period in the previous year, the company earned $2.13 earnings per share. PPG Industries’s quarterly revenue was up 1.2% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Equities analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share 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. Investors 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 dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, November 10th. PPG Industries’s dividend 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.