Rep. Lloyd Doggett Purchases Shares of PPG Industries, Inc. (NYSE:PPG)

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 Performance

Shares of NYSE PPG opened at $115.66 on Friday. The business’s 50-day simple moving average is $122.25 and its 200-day simple moving average is $125.16. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.13 and a current ratio of 1.58. PPG Industries, Inc. has a 52 week low of $113.49 and a 52 week high of $147.76. The firm has a market cap of $26.83 billion, a price-to-earnings ratio of 18.33, a P/E/G ratio of 1.90 and a beta of 1.24.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Wednesday, October 16th. The specialty chemicals company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.02). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business had revenue of $4.58 billion during the quarter, compared to the consensus estimate of $4.66 billion. During the same period in the prior year, the firm earned $2.07 earnings per share. The business’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, equities research analysts expect that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

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

Institutional Investors Weigh In On PPG Industries

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

Insider Activity at PPG Industries

In other PPG Industries news, VP Anne M. Foulkes sold 1,985 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $125.80, for a total transaction of $249,713.00. Following the transaction, the vice president now owns 13,454 shares in the company, valued at $1,692,513.20. This trade represents a 12.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.55% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on PPG. Royal Bank of Canada cut their price target on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a report on Tuesday, October 22nd. StockNews.com lowered PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft reduced their price objective 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. JPMorgan Chase & Co. lowered their target price on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Finally, Mizuho decreased their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, PPG Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.29.

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

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.