AXQ Capital LP Acquires Shares of 2,039 PPG Industries, Inc. (NYSE:PPG)

Posted by admin on May 26th, 2023

AXQ Capital LP acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG – Get Rating) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,039 shares of the specialty chemicals company’s stock, valued at approximately $256,000.

Other large investors have also bought and sold shares of the company. WFA of San Diego LLC bought a new position in PPG Industries during the 4th quarter valued at $25,000. Riverview Trust Co lifted its stake in PPG Industries by 81.7% during the 4th quarter. Riverview Trust Co now owns 238 shares of the specialty chemicals company’s stock valued at $30,000 after acquiring an additional 107 shares in the last quarter. Guardian Wealth Advisors LLC bought a new position in PPG Industries during the 3rd quarter valued at $27,000. Parkside Financial Bank & Trust raised its stake 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 purchasing an additional 87 shares during the period. Finally, Achmea Investment Management B.V. bought a new stake in shares of PPG Industries during the 1st quarter worth $40,000. 80.04% of the stock is currently owned by institutional investors.

PPG Industries Stock Down 0.3 %

PPG stock opened at $133.04 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.68 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $31.32 billion, a PE ratio of 24.82, a PEG ratio of 1.13 and a beta of 1.17. PPG Industries, Inc. has a twelve month low of $107.06 and a twelve month high of $145.51. The stock has a 50-day simple moving average of $136.30 and a two-hundred day simple moving average of $131.63.

PPG Industries (NYSE:PPG – Get Rating) last posted its earnings results on Friday, April 21st. The specialty chemicals company reported $1.82 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the previous year, the firm earned $1.37 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities analysts predict that PPG Industries, Inc. will post 7.25 EPS for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 12th. Investors of record on Wednesday, May 10th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Tuesday, May 9th. PPG Industries’s dividend payout ratio (DPR) is 46.27%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their target price on PPG Industries from $160.00 to $165.00 in a research note on Monday, April 24th. Wells Fargo & Company lowered their target price on PPG Industries from $150.00 to $145.00 in a research note on Thursday. Barclays lifted their target price on PPG Industries from $142.00 to $150.00 in a research note on Monday, April 24th. Robert W. Baird lifted their target price on PPG Industries from $150.00 to $160.00 in a research note on Monday, April 24th. Finally, BMO Capital Markets lifted their target price on PPG Industries from $151.00 to $158.00 in a research note on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $148.28.

About PPG Industries

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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.