Jacobi Capital Management LLC Raises Stake in PPG Industries, Inc. $PPG

Jacobi Capital Management LLC grew its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 20.0% during the first quarter, Holdings Channel reports. The firm owned 11,566 shares of the specialty chemicals company’s stock after purchasing an additional 1,925 shares during the period. Jacobi Capital Management LLC’s holdings in PPG Industries were worth $1,265,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new stake in PPG Industries during the fourth quarter worth approximately $26,000. Cheviot Value Management LLC acquired a new stake in PPG Industries during the first quarter worth approximately $26,000. CVA Family Office LLC raised its holdings in PPG Industries by 70.6% during the first quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company’s stock worth $30,000 after purchasing an additional 113 shares in the last quarter. Headlands Technologies LLC acquired a new stake in PPG Industries during the first quarter worth approximately $30,000. Finally, Financial Connections Group Inc. raised its holdings in PPG Industries by 74.6% during the first quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Performance

Shares of PPG opened at $111.90 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. The stock has a market capitalization of $25.26 billion, a P/E ratio of 25.37, a P/E/G ratio of 2.25 and a beta of 1.14. The company’s fifty day moving average is $111.93 and its two-hundred day moving average is $110.20. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $137.24.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data 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 net margin of 6.25% and a return on equity of 23.85%. PPG Industries’s revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.50 EPS. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, sell-side analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, August 11th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $2.84 annualized dividend and a yield of 2.5%. This is an increase from PPG Industries’s previous quarterly dividend of $0.68. PPG Industries’s dividend payout ratio is presently 64.40%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. UBS Group raised their price objective on shares of PPG Industries from $111.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, July 9th. Royal Bank Of Canada raised their price objective on shares of PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a report on Friday, August 1st. Mizuho lifted their target price on shares of PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a report on Tuesday, July 15th. Citigroup lifted their target price on shares of PPG Industries from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, June 13th. Finally, Wells Fargo & Company lifted their target price on shares of PPG Industries from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. One equities research 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $129.82.

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.