Catalyst Funds Management Pty Ltd Takes $228,000 Position in PPG Industries, Inc. $PPG

by · The Cerbat Gem

Catalyst Funds Management Pty Ltd bought a new stake in PPG Industries, Inc. (NYSE:PPG – Free Report) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 2,000 shares of the specialty chemicals company’s stock, valued at approximately $228,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its position in PPG Industries by 0.7% in the second quarter. Vanguard Group Inc. now owns 29,265,369 shares of the specialty chemicals company’s stock valued at $3,328,936,000 after purchasing an additional 192,560 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of PPG Industries by 5.6% in the first quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company’s stock worth $1,220,259,000 after buying an additional 592,152 shares during the period. First Eagle Investment Management LLC raised its holdings in PPG Industries by 21.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 5,560,280 shares of the specialty chemicals company’s stock valued at $632,482,000 after buying an additional 971,799 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in 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 buying an additional 1,766,518 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in PPG Industries by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,937,274 shares of the specialty chemicals company’s stock valued at $321,147,000 after buying an additional 105,973 shares during the period. 81.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on PPG shares. JPMorgan Chase & Co. boosted their price objective on shares of PPG Industries from $112.00 to $117.00 and gave the company an “overweight” rating in a research report on Friday. Royal Bank Of Canada boosted their price target on PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a report on Friday, August 1st. UBS Group dropped their price objective on PPG Industries from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of PPG Industries in a research report on Friday, October 31st. Finally, Wells Fargo & Company decreased their target price on PPG Industries from $132.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $123.64.

Get Our Latest Report on PPG

PPG Industries Trading Up 3.8%

NYSE PPG opened at $98.79 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.47 and a debt-to-equity ratio of 0.76. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $130.05. The firm has a market capitalization of $22.17 billion, a PE ratio of 22.40, a P/E/G ratio of 2.13 and a beta of 1.19. The stock’s 50 day moving average is $101.25 and its 200 day moving average is $108.19.

PPG Industries (NYSE:PPG – Get Free Report) last posted its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.04. PPG Industries had a return on equity of 24.17% and a net margin of 6.35%.The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the prior year, the company earned $2.13 earnings per share. The firm’s quarterly 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 forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Monday, November 10th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, November 10th. PPG Industries’s dividend payout ratio (DPR) is 64.40%.

PPG Industries Profile

(Free Report)

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.

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