abrdn plc Buys 2,894 Shares of PPG Industries, Inc. (NYSE:PPG)

abrdn plc raised its position in shares of PPG Industries, Inc. (NYSE:PPG) by 1.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 266,825 shares of the specialty chemicals company’s stock after acquiring an additional 2,894 shares during the period. abrdn plc owned approximately 0.12% of PPG Industries worth $35,194,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PPG. Insight Folios Inc boosted its stake in shares of PPG Industries by 3.8% during the 3rd quarter. Insight Folios Inc now owns 2,217 shares of the specialty chemicals company’s stock worth $294,000 after purchasing an additional 81 shares during the period. J.W. Cole Advisors Inc. lifted its stake in PPG Industries by 6.0% in the third quarter. J.W. Cole Advisors Inc. now owns 12,308 shares of the specialty chemicals company’s stock worth $1,630,000 after purchasing an additional 701 shares during the last quarter. Frank Rimerman Advisors LLC boosted its position in shares of PPG Industries by 9.1% during the third quarter. Frank Rimerman Advisors LLC now owns 1,826 shares of the specialty chemicals company’s stock valued at $242,000 after buying an additional 152 shares during the period. Mattern Capital Management LLC grew its stake in shares of PPG Industries by 1.6% during the third quarter. Mattern Capital Management LLC now owns 60,667 shares of the specialty chemicals company’s stock valued at $8,036,000 after buying an additional 950 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of PPG Industries by 10.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 1,061,312 shares of the specialty chemicals company’s stock worth $140,276,000 after buying an additional 98,941 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PPG shares. Bank of America dropped their price objective on PPG Industries from $152.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 22nd. KeyCorp cut their price target on shares of PPG Industries from $162.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. JPMorgan Chase & Co. decreased their price objective on shares of PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Citigroup dropped their target price on shares of PPG Industries from $145.00 to $144.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Finally, Barclays decreased their price target on shares of PPG Industries from $148.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, July 22nd. Six investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.93.

PPG Industries Trading Down 0.7 %

Shares of NYSE:PPG opened at $125.65 on Thursday. The company has a market capitalization of $29.15 billion, a PE ratio of 19.91, a P/E/G ratio of 1.93 and a beta of 1.26. The company has a current ratio of 1.58, a quick ratio of 1.13 and a debt-to-equity ratio of 0.77. PPG Industries, Inc. has a 12-month low of $118.07 and a 12-month high of $151.16. The business’s fifty day simple moving average is $128.04 and its 200-day simple moving average is $128.42.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.02). The company had revenue of $4.58 billion for the quarter, compared to the consensus estimate of $4.66 billion. PPG Industries had a net margin of 8.24% and a return on equity of 23.63%. PPG Industries’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.07 EPS. As a group, equities research analysts predict that PPG Industries, Inc. will post 8.19 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Tuesday, November 12th will be paid a dividend of $0.68 per share. The ex-dividend date is Tuesday, November 12th. This represents a $2.72 annualized dividend and a dividend yield of 2.16%. PPG Industries’s dividend payout ratio (DPR) is presently 43.11%.

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.