Assenagon Asset Management S.A. Decreases Stock Holdings in PPG Industries, Inc. $PPG

Assenagon Asset Management S.A. reduced its position in shares of PPG Industries, Inc. (NYSE:PPG) by 86.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 83,945 shares of the specialty chemicals company’s stock after selling 529,467 shares during the quarter. Assenagon Asset Management S.A.’s holdings in PPG Industries were worth $8,823,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of PPG Industries by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 29,265,369 shares of the specialty chemicals company’s stock worth $3,328,936,000 after buying an additional 192,560 shares during the last quarter. State Street Corp grew its position in PPG Industries by 6.3% in the second quarter. State Street Corp now owns 12,624,828 shares of the specialty chemicals company’s stock worth $1,436,074,000 after acquiring an additional 749,081 shares in the last quarter. First Eagle Investment Management LLC grew its position in PPG Industries by 21.2% in the second quarter. First Eagle Investment Management LLC now owns 5,560,280 shares of the specialty chemicals company’s stock worth $632,482,000 after acquiring an additional 971,799 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake 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 worth $524,627,000 after acquiring an additional 1,766,518 shares during the last quarter. Finally, Norges Bank purchased a new stake in PPG Industries during the second quarter valued at approximately $362,412,000. Institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Down 0.2%

NYSE PPG opened at $102.69 on Friday. The stock has a market cap of $23.04 billion, a PE ratio of 23.29, a PEG ratio of 2.82 and a beta of 1.16. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $124.74. The company’s 50-day moving average price is $99.72 and its 200-day moving average price is $106.75. 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 (NYSE:PPG) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $4.06 billion. PPG Industries had a net margin of 6.35% and a return on equity of 23.61%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $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 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Monday, November 10th were paid a $0.71 dividend. The ex-dividend date of this dividend was Monday, November 10th. This represents a $2.84 annualized dividend and a yield of 2.8%. PPG Industries’s dividend payout ratio is 64.40%.

Wall Street Analysts Forecast Growth

PPG has been the subject of a number of recent research reports. Evercore ISI dropped their target price 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. JPMorgan Chase & Co. raised their price target on PPG Industries from $112.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st. Weiss Ratings reiterated a “hold (c-)” rating on shares of PPG Industries in a research report on Friday, October 31st. Zacks Research downgraded shares of PPG Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, November 10th. Finally, UBS Group dropped their price target 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 equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $122.54.

PPG Industries Profile

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.