Brown Advisory Inc. Acquires 10,009 Shares of PPG Industries, Inc. (NYSE:PPG)

Posted by on Jun 11th, 2023

Brown Advisory Inc. grew its holdings in shares of PPG Industries, Inc. (NYSE:PPG – Get Rating) by 11.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,313 shares of the specialty chemicals company’s stock after buying an additional 10,009 shares during the period. Brown Advisory Inc.’s holdings in PPG Industries were worth $12,236,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Girard Partners LTD. boosted its stake in PPG Industries by 1.3% in the 4th quarter. Girard Partners LTD. now owns 6,265 shares of the specialty chemicals company’s stock worth $788,000 after purchasing an additional 79 shares during the period. Inspire Investing LLC raised its holdings in shares of PPG Industries by 2.8% during the 4th quarter. Inspire Investing LLC now owns 3,023 shares of the specialty chemicals company’s stock worth $380,000 after acquiring an additional 81 shares in the last quarter. Kentucky Retirement Systems raised its holdings in shares of PPG Industries by 0.4% during the 4th quarter. Kentucky Retirement Systems now owns 18,476 shares of the specialty chemicals company’s stock worth $2,323,000 after acquiring an additional 81 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of PPG Industries by 45.8% during the 1st quarter. Parkside Financial Bank & Trust now owns 277 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 87 shares in the last quarter. Finally, Atria Wealth Solutions Inc. raised its holdings in shares of PPG Industries by 4.4% during the 4th quarter. Atria Wealth Solutions Inc. now owns 2,081 shares of the specialty chemicals company’s stock worth $262,000 after acquiring an additional 88 shares in the last quarter. Institutional investors own 80.04% of the company’s stock.

PPG Industries Price Performance

PPG opened at $139.67 on Friday. PPG Industries, Inc. has a 12-month low of $107.06 and a 12-month high of $145.51. The company has a current ratio of 1.68, a quick ratio of 1.15 and a debt-to-equity ratio of 0.98. The business’s fifty day simple moving average is $138.63 and its 200-day simple moving average is $132.57. The company has a market capitalization of $32.88 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 1.19 and a beta of 1.18.

PPG Industries (NYSE:PPG – Get Rating) last posted its quarterly earnings results on Friday, April 21st. The specialty chemicals company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.27. PPG Industries had a return on equity of 23.35% and a net margin of 7.18%. The business had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter in the prior year, the company earned $1.37 EPS. The business’s revenue was up 1.7% compared to the same quarter last year. On average, equities research analysts anticipate that PPG Industries, Inc. will post 7.25 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 12th. Stockholders of record on Wednesday, May 10th will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Tuesday, May 9th. PPG Industries’s payout ratio is 46.27%.

Wall Street Analysts Forecast Growth

PPG has been the topic of several recent research reports. Mizuho upped their price objective on PPG Industries from $142.00 to $151.00 and gave the stock a “buy” rating in a report on Wednesday, April 19th. JPMorgan Chase & Co. raised PPG Industries from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $130.00 to $156.00 in a report on Monday, April 24th. BMO Capital Markets upped their price objective on PPG Industries from $151.00 to $158.00 in a report on Tuesday, April 25th. Wells Fargo & Company decreased their price objective on PPG Industries from $150.00 to $145.00 in a report on Thursday, May 25th. Finally, Credit Suisse Group increased their price target on PPG Industries from $128.00 to $133.00 and gave the company an “underperform” rating in a report on Friday, April 21st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and an average price target of $148.28.

PPG Industries Profile

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PPG Industries, Inc engages in the manufacture and distribution of paints, coatings, and specialty materials. It operates through the Performance Coatings and Industrial Coatings segments. The Performance Coatings segment supplies a variety of protective and decorative coatings, sealants, and finishes along with pavement marking products, paint strippers, stains, and related chemicals, as well as transparencies and transparent armor.

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Institutional Ownership by Quarter for PPG Industries (NYSE:PPG)

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