On May 14, 2023, finance news sources reported that Impax Asset Management Group plc has increased its stake in PPG Industries, Inc. (NYSE:PPG) by 49.5% in the fourth quarter of the previous year. Impax Asset Management Group plc now owns around 0.13% of the specialty chemicals company, with an estimated worth of $38,057,000 as of its most recent filing with the Securities & Exchange Commission.
PPG Industries is a leading manufacturer and distributor of paints, coatings, and specialty materials that are used across multiple industries. The company operates under two segments – Performance Coatings and Industrial Coatings. The Performance Coatings segment offers protective coatings, sealants, finishes, pavement marking products, paint strippers, stains as well as transparencies and transparent armor to meet varying customer needs.
This esteemed company currently trades on NYSE at $138.10 per share; PPG Industries has a market cap of $32.51 billion and a price/earnings ratio of 25.76 in addition to a relatively high beta of 1.17 which indicates strong positive correlation with market performance. Based on projected earnings growth for this year relative to its current stock price ($116), it also boasts a favorable price-to-earnings-to-growth (PEG) ratio of 1.18.
The latest financial data released by PPG Industries is impressive overall; the company’s quick ratio stands at 1.15 while its current ratio is pegged at 1.68 – indicating that it possesses sufficient liquidity levels for short-term obligations coupled with reliable inventory management capabilities which is essential for maximizing profits.
With these numbers underlining PPG Industries’ resilience during turbulent times and consistent growth trajectory since inception – the future potential upside appears very bright indeed!
PPG Industries Reports Strong Earnings and Institutional Investment Interest
PPG Industries, Inc. is a well-known company that manufactures and distributes paints, coatings, and specialty materials. The company operates through two segments: Performance Coatings and Industrial Coatings. The Performance Coatings segment deals with the production of a variety of protective and decorative coatings, sealants, finishes, paint strippers, stains, pavement marking products, and related chemicals. Additionally, it also supplies transparencies and transparent armor.
Recently, PPG Industries reported strong earnings in its quarterly results for April 2017. The company reported earnings of $1.82 per share which exceeded analysts’ consensus estimates by $0.27 per share. Their net margin was 7.18% while the return on equity stood at 23.35%. PPG Industries’ revenue was up by 1.7% compared to the same quarter last year.
Interestingly, a number of institutional investors and hedge funds have also modified their holdings in PPG over the past few quarters as per regulatory filings dated May 14th, 2023. WFA of San Diego LLC recently purchased a stake in shares worth $25k during the fourth quarter while Guardian Wealth Advisors LLC acquired their own stake position worth about $27k in PPG during Q3 2022s end. Riverview Trust Co increased its stake by an impressive82% during the fourth quarter alone; taking ownership of an additional 107 shares making their tally stand at238 shares valued at $30k.
Parkside Financial Bank & Trust too boosted their position by almost46% during Q1/2023 after acquiring an additional 87 shares bringing their present holdings to277 shares valued at approximately$36k last specified period ending March-31/2023.CVA Family Office has remarkably increased its position in PPPG Industries by over312% since Q-4/2022.Accordingly,the total tally held by them comprises330 shares – worth $37k-which they acquired during the third quarter of 2022. As per data from Bloomber.com, hedge funds and other institutional investors own 80.04% of PPG Industries stock.
PPG Industries has received positive reviews from various research firms in recent times as well. Argus raised their price target on PPG’s shares to $149.00 while Mizuho hiked its target from $142.00 to $151.00 and gave the stock a ‘buy’ rating in a research report dated April 19th, 2023. Furthermore, Deutsche Bank Aktiengesellschaft hiked its price target to $165.00.Apart from BNP Paribas lowering their rating this year, most were able to put up a ‘hold’ to ‘buy’ consensus without downgrading/downsizing the company stock’s valuation PPG.
In conclusion, PPG Industries seems to be doing well both in terms of earnings and investments by institutions.Diversifying across coating products such as pavement markings, transparent armor and protective coatings for consumable goods will likely continue to boost future earnings for PPG; additioanlly it’s…
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