Burgundy Asset Management Ltd. Invests $93.72 Million in PPG Industries, Inc. $PPG

Burgundy Asset Management Ltd. bought a new stake in PPG Industries, Inc. (NYSE:PPG) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 823,899 shares of the specialty chemicals company’s stock, valued at approximately $93,719,000. Burgundy Asset Management Ltd. owned approximately 0.37% of PPG Industries as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Capital Advisors Ltd. LLC lifted its holdings in PPG Industries by 127.6% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 125 shares during the last quarter. Headlands Technologies LLC acquired a new position in PPG Industries in the first quarter worth $30,000. Gladwyn Financial Advisors Inc. bought a new stake in PPG Industries during the second quarter valued at $31,000. Vermillion & White Wealth Management Group LLC raised its holdings in shares of PPG Industries by 100.7% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 273 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 137 shares during the period. Finally, Rothschild Investment LLC boosted its holdings in shares of PPG Industries by 184.0% in the 2nd quarter. Rothschild Investment LLC now owns 284 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 184 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Price Performance

Shares of NYSE PPG opened at $101.06 on Friday. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $130.05. The firm’s 50-day simple moving average is $99.79 and its 200 day simple moving average is $107.35. The company has a quick ratio of 1.08, a current ratio of 1.47 and a debt-to-equity ratio of 0.74. The stock has a market cap of $22.68 billion, a P/E ratio of 22.92, a P/E/G ratio of 2.77 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 analysts’ consensus estimates of $2.09 by $0.04. The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.06 billion. PPG Industries had a net margin of 6.35% and a return on equity of 23.61%. PPG Industries’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.13 EPS. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Equities analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

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

Analyst Upgrades and Downgrades

PPG has been the subject of several recent research reports. 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. Bank of America lowered their price objective 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. UBS Group cut their target price on PPG Industries from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Zacks Research lowered shares of PPG Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, November 10th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of PPG Industries in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $123.58.

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.