Cim Investment Management Inc. Buys 5,244 Shares of PPG Industries, Inc. $PPG

Cim Investment Management Inc. boosted its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 99.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,508 shares of the specialty chemicals company’s stock after purchasing an additional 5,244 shares during the quarter. Cim Investment Management Inc.’s holdings in PPG Industries were worth $1,225,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PPG. Capital Advisors Ltd. LLC grew its stake in PPG Industries by 127.6% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 125 shares during the last quarter. Gladwyn Financial Advisors Inc. acquired a new stake in shares of PPG Industries in the second quarter valued at about $31,000. Vermillion & White Wealth Management Group LLC increased its stake in shares of PPG Industries by 100.7% in 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. Rothschild Investment LLC lifted its position in shares of PPG Industries by 184.0% during the 2nd quarter. Rothschild Investment LLC now owns 284 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 184 shares during the last quarter. Finally, Addison Advisors LLC boosted its stake in PPG Industries by 1,515.8% during the 2nd quarter. Addison Advisors LLC now owns 307 shares of the specialty chemicals company’s stock valued at $35,000 after purchasing an additional 288 shares during the period. Institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Performance

NYSE:PPG opened at $103.48 on Friday. The firm has a market capitalization of $23.22 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 2.84 and a beta of 1.16. The company has a quick ratio of 1.08, a current ratio of 1.47 and a debt-to-equity ratio of 0.74. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $124.87. The firm has a 50-day moving average price of $99.48 and a 200 day moving average price of $107.02.

PPG Industries (NYSE:PPG) last released 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 company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period in the prior year, the company posted $2.13 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Research analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Monday, November 10th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, November 10th. PPG Industries’s dividend payout ratio is currently 64.40%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PPG. Mizuho cut their price target on PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of PPG Industries in a report on Friday, October 31st. Wells Fargo & Company dropped their price objective on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Citigroup cut their price objective on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, October 6th. Finally, JPMorgan Chase & Co. lifted their target price on PPG Industries from $112.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, PPG Industries presently has a consensus rating of “Hold” and an average target price of $122.54.

PPG Industries Company 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.