Amundi Decreases Position in PPG Industries, Inc. $PPG

Amundi decreased its position in PPG Industries, Inc. (NYSE:PPG) by 18.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 899,093 shares of the specialty chemicals company’s stock after selling 199,931 shares during the period. Amundi’s holdings in PPG Industries were worth $106,623,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PPG. Cookson Peirce & Co. Inc. increased its holdings in 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 valued at $532,000 after acquiring an additional 89 shares in the last quarter. Summit Financial LLC lifted its holdings 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 purchasing an additional 90 shares in the last quarter. Bell Investment Advisors Inc grew its position in shares of PPG Industries by 40.9% in the first quarter. Bell Investment Advisors Inc now owns 355 shares of the specialty chemicals company’s stock valued at $39,000 after purchasing an additional 103 shares during the last quarter. Citizens Financial Group Inc. RI increased its stake in shares of 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 purchasing an additional 107 shares in the last quarter. Finally, Groupe la Francaise raised its position in shares of 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 purchasing an additional 107 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. UBS Group lowered their target price on PPG Industries from $115.00 to $110.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Sanford C. Bernstein reduced their price objective on PPG Industries from $129.00 to $123.00 and set an “outperform” rating on the stock in a research report on Monday, November 24th. Wells Fargo & Company dropped their price objective on PPG Industries from $132.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Bank of America reduced their target price on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PPG Industries in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $122.54.

PPG Industries Stock Performance

NYSE PPG opened at $101.06 on Monday. The business’s 50-day moving average price is $99.79 and its 200 day moving average price is $107.33. 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, Inc. has a twelve month low of $90.24 and a twelve month high of $130.05. The company has a market capitalization of $22.68 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 2.77 and a beta of 1.16.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data 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 net margin of 6.35% and a return on equity of 23.61%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.13 EPS. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. On average, research analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Monday, November 10th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, November 10th. PPG Industries’s dividend payout ratio (DPR) is 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.