PPG Industries (NYSE:PPG) Stock Acquired Rep. Lloyd Doggett

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 Price Performance

Shares of PPG opened at $115.66 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.58 and a quick ratio of 1.13. PPG Industries, Inc. has a 1-year low of $113.49 and a 1-year high of $147.76. The stock has a market cap of $26.83 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 1.90 and a beta of 1.24. The firm has a fifty day moving average price of $122.25 and a 200 day moving average price of $125.16.

PPG Industries (NYSE:PPG) last announced its earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business’s revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business posted $2.07 earnings per share. As a group, sell-side analysts anticipate that PPG Industries, Inc. will post 8.18 EPS for the current year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th were issued a $0.68 dividend. This represents a $2.72 annualized dividend and a dividend yield of 2.35%. The ex-dividend date was Tuesday, November 12th. PPG Industries’s payout ratio is 43.11%.

Insider Activity

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of PPG Industries stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total value of $249,713.00. Following the completion of the transaction, the vice president now owns 13,454 shares of the company’s stock, valued at $1,692,513.20. The trade was a 12.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.55% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Mizuho lowered their price objective on PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft decreased their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Citigroup reduced their target price on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 price target (down previously from $160.00) on shares of PPG Industries in a report on Monday, October 21st. Finally, StockNews.com lowered shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 20th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $149.29.

Institutional Investors Weigh In On PPG Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. acquired a new position in shares of PPG Industries in the 4th quarter valued at approximately $27,000. Nordea Investment Management AB raised its holdings in PPG Industries by 3.7% in the fourth quarter. Nordea Investment Management AB now owns 19,411 shares of the specialty chemicals company’s stock valued at $2,328,000 after acquiring an additional 687 shares in the last quarter. GAMMA Investing LLC boosted its stake in PPG Industries by 8.9% during the 4th quarter. GAMMA Investing LLC now owns 6,121 shares of the specialty chemicals company’s stock valued at $731,000 after acquiring an additional 498 shares during the last quarter. Franklin Resources Inc. grew its holdings in PPG Industries by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 3,136,570 shares of the specialty chemicals company’s stock worth $403,049,000 after acquiring an additional 170,339 shares in the last quarter. Finally, Tidal Investments LLC increased its position in shares of PPG Industries by 1.2% in the 3rd quarter. Tidal Investments LLC now owns 13,306 shares of the specialty chemicals company’s stock worth $1,763,000 after purchasing an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

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.

PPG Industries Company 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.