Representative Lloyd Doggett (D-Texas) recently bought shares of PPG Industries, Inc. NYSE: PPG. In a filing disclosed on January 08th, the Representative disclosed that they had bought between $1,001 and $15,000 in PPG Industries stock on December 12th.
Representative Lloyd Doggett also recently made the following trade(s):
- Purchased $1,001 - $15,000 in shares of Coca-Cola NYSE: KO on 12/16/2024.
- Purchased $1,001 - $15,000 in shares of Home Depot NYSE: HD on 12/12/2024.
- Purchased $1,001 - $15,000 in shares of Johnson & Johnson NYSE: JNJ on 12/10/2024.
- Purchased $1,001 - $15,000 in shares of International Business Machines NYSE: IBM on 12/10/2024.
- Purchased $1,001 - $15,000 in shares of Procter & Gamble NYSE: PG on 11/15/2024.
PPG Industries Stock Down 2.1 %
NYSE:PPG traded down $2.39 during midday trading on Friday, hitting $113.30. 1,460,739 shares of the company were exchanged, compared to its average volume of 2,093,757. 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 fifty-two week low of $113.14 and a fifty-two week high of $147.76. The company has a market capitalization of $26.29 billion, a PE ratio of 17.96, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. The company has a fifty day simple moving average of $122.03 and a 200 day simple moving average of $125.05.
PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.02). The business had revenue of $4.58 billion for the quarter, compared to analysts' expectations of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company's revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.07 earnings per share. As a group, equities analysts anticipate that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.
PPG Industries Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th were given a dividend of $0.68 per share. This represents a $2.72 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend was Tuesday, November 12th. PPG Industries's dividend payout ratio (DPR) is presently 43.11%.
Insider Buying and Selling
In related news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the sale, the vice president now directly owns 13,454 shares of the company's stock, valued at $1,692,513.20. This trade represents a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.55% of the company's stock.
Analyst Ratings Changes
PPG has been the subject of a number of recent research reports. Mizuho cut their target price on shares of PPG Industries from $160.00 to $150.00 and set an "outperform" rating for the company in a research note on Thursday, October 17th. Citigroup reduced their price objective on shares of PPG Industries from $150.00 to $145.00 and set a "buy" rating on the stock in a research note on Wednesday, December 18th. StockNews.com downgraded PPG Industries from a "strong-buy" rating to a "buy" rating in a report on Friday, December 20th. Deutsche Bank Aktiengesellschaft dropped their target price on PPG Industries from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Finally, KeyCorp lowered shares of PPG Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, December 16th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, PPG Industries presently has a consensus rating of "Moderate Buy" and an average target price of $149.29.
Check Out Our Latest Report on PPG Industries
Hedge Funds Weigh In On PPG Industries
Several institutional investors and hedge funds have recently added to or reduced their stakes in PPG. Private Advisor Group LLC increased its stake in shares of PPG Industries by 8.4% in the second quarter. Private Advisor Group LLC now owns 11,342 shares of the specialty chemicals company's stock worth $1,428,000 after acquiring an additional 879 shares during the last quarter. Candriam S.C.A. lifted its stake in PPG Industries by 11.2% in the second quarter. Candriam S.C.A. now owns 22,001 shares of the specialty chemicals company's stock valued at $2,770,000 after acquiring an additional 2,216 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of PPG Industries by 2,153.3% during the 2nd quarter. Acadian Asset Management LLC now owns 6,512 shares of the specialty chemicals company's stock worth $818,000 after purchasing an additional 6,223 shares during the last quarter. Caprock Group LLC boosted its holdings in PPG Industries by 81.3% in the second quarter. Caprock Group LLC now owns 8,471 shares of the specialty chemicals company's stock worth $1,066,000 after purchasing an additional 3,799 shares in the last quarter. Finally, PFG Investments LLC boosted its stake in shares of PPG Industries by 9.6% during the 2nd quarter. PFG Investments LLC now owns 2,148 shares of the specialty chemicals company's stock worth $270,000 after acquiring an additional 189 shares in the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.
About Representative Doggett
Lloyd Doggett (Democratic Party) is a member of the U.S. House, representing Texas' 37th Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Doggett (Democratic Party) is running for re-election to the U.S. House to represent Texas' 37th Congressional District. He declared candidacy for the Democratic primary scheduled on March 5, 2024. In the 116th Congress, Doggett served on the House Ways & Means Committee, and he co-founded the House Prescription Drug Taskforce. Doggett began his political career in the Texas State Senate, where he served from 1973 to 1985. He then served as a member of the Texas Supreme Court from 1989 until 1994. He represented Texas' 25th Congressional District from 2005 to 2013 and Texas' 10th Congressional District from 1995 to 2005. As of a 2014 analysis of multiple outside rankings, Doggett is an average Democratic member of Congress, meaning he will vote with the Democratic Party on the majority of bills. Lloyd Doggett was born in Austin, Texas. Doggett graduated from Austin High School in 1964. He earned a B.A. from the University of Texas at Austin in 1967 and a J.D. from the University of Texas in 1970. Doggett's career experience includes working as an adjunct professor with the University of Texas School of Law.
About PPG Industries
(
Get Free Report)
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.
Recommended Stories
Before you consider PPG Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PPG Industries wasn't on the list.
While PPG Industries currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
