Janney Montgomery Scott LLC Sells 30,347 Shares of PPG Industries, Inc. $PPG

Janney Montgomery Scott LLC lessened its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 14.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,654 shares of the specialty chemicals company’s stock after selling 30,347 shares during the period. Janney Montgomery Scott LLC owned approximately 0.08% of PPG Industries worth $20,549,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PPG. Price T Rowe Associates Inc. MD lifted its holdings in shares of PPG Industries by 58.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company’s stock valued at $524,627,000 after purchasing an additional 1,766,518 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in PPG Industries in the 1st quarter valued at approximately $127,152,000. Pzena Investment Management LLC bought a new stake in PPG Industries in the 1st quarter valued at approximately $105,349,000. Nuveen LLC bought a new stake in PPG Industries in the 1st quarter valued at approximately $79,881,000. Finally, Wellington Management Group LLP lifted its stake in PPG Industries by 5.6% in the 1st quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company’s stock valued at $1,220,259,000 after acquiring an additional 592,152 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

PPG has been the topic of several research reports. Wells Fargo & Company boosted their target price on PPG Industries from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, July 1st. Royal Bank Of Canada boosted their target price on PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a research note on Friday, August 1st. Citigroup boosted their target price on PPG Industries from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, June 13th. UBS Group boosted their target price on PPG Industries from $111.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday, July 9th. Finally, Mizuho upped their price objective on PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and a consensus price target of $129.82.

PPG Industries Trading Up 0.4%

Shares of PPG Industries stock opened at $104.46 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $132.18. The stock has a 50 day moving average price of $109.06 and a two-hundred day moving average price of $109.51. The stock has a market capitalization of $23.58 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 2.16 and a beta of 1.16.

PPG Industries (NYSE:PPG) last announced its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.22. The company had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $4.16 billion. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.PPG Industries’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.50 earnings per share. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. As a group, equities analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, August 11th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Monday, August 11th. This is an increase from PPG Industries’s previous quarterly dividend of $0.68. PPG Industries’s dividend payout ratio (DPR) is currently 64.40%.

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.