Rakuten Investment Management Inc. Purchases New Position in PPG Industries, Inc. $PPG

Rakuten Investment Management Inc. acquired a new position in PPG Industries, Inc. (NYSE:PPG) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 154,551 shares of the specialty chemicals company’s stock, valued at approximately $16,245,000. Rakuten Investment Management Inc. owned about 0.07% of PPG Industries at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in PPG Industries in the second quarter worth $362,412,000. Holocene Advisors LP lifted its position in PPG Industries by 342.8% during the second quarter. Holocene Advisors LP now owns 1,688,870 shares of the specialty chemicals company’s stock valued at $192,109,000 after purchasing an additional 1,307,468 shares during the last quarter. First Eagle Investment Management LLC grew its stake in shares of PPG Industries by 21.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 5,560,280 shares of the specialty chemicals company’s stock worth $632,482,000 after buying an additional 971,799 shares in the last quarter. Burgundy Asset Management Ltd. bought a new stake in shares of PPG Industries in the 2nd quarter worth about $93,719,000. Finally, State Street Corp raised its position in shares of PPG Industries by 6.3% during the 2nd quarter. State Street Corp now owns 12,624,828 shares of the specialty chemicals company’s stock valued at $1,436,074,000 after buying an additional 749,081 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Price Performance

Shares of PPG stock opened at $112.45 on Thursday. The stock has a 50 day moving average price of $102.72 and a 200 day moving average price of $105.69. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $124.74. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.47. The firm has a market capitalization of $25.23 billion, a P/E ratio of 25.50, a P/E/G ratio of 3.24 and a beta of 1.17.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $2.13 EPS 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 the consensus estimate of $4.06 billion. During the same quarter in the prior year, the company posted $2.13 EPS. PPG Industries’s quarterly revenue was up 1.2% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. As a group, sell-side 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 Thursday, March 12th. Investors of record on Friday, February 20th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, February 20th. PPG Industries’s dividend payout ratio (DPR) is currently 64.40%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Sanford C. Bernstein dropped their price target on PPG Industries from $129.00 to $123.00 and set an “outperform” rating for the company in a research report on Monday, November 24th. Mizuho dropped their target price 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 research report on Friday, October 31st. Citigroup raised their price target on PPG Industries from $116.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Finally, Bank of America dropped their price objective on shares of PPG Industries from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, PPG Industries presently has an average rating of “Hold” and an average price target of $120.86.

Insiders Place Their Bets

In other PPG Industries news, CFO Vincent J. Morales sold 5,200 shares of the business’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $110.00, for a total value of $572,000.00. Following the completion of the sale, the chief financial officer directly owned 28,439 shares of the company’s stock, valued at $3,128,290. The trade was a 15.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is owned by insiders.

PPG Industries Company Profile

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.