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 Price Performance

Shares of NYSE:PPG opened at $115.66 on Friday. PPG Industries, Inc. has a twelve month low of $113.49 and a twelve month high of $147.76. The stock’s 50 day moving average is $122.25 and its 200-day moving average is $125.16. The company has a quick ratio of 1.13, a current ratio of 1.58 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $26.83 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 1.90 and a beta of 1.24.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Wednesday, October 16th. The specialty chemicals company reported $2.13 earnings per share 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 analyst estimates of $4.66 billion. PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.07 EPS. Sell-side analysts forecast that PPG Industries, Inc. will post 8.18 EPS for the current fiscal year.

PPG Industries Announces Dividend

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

Insiders Place Their Bets

In related news, VP Anne M. Foulkes sold 1,985 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $125.80, for a total transaction of $249,713.00. Following the sale, the vice president now owns 13,454 shares of the company’s stock, valued at approximately $1,692,513.20. This represents a 12.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.55% of the company’s stock.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on PPG. JPMorgan Chase & Co. decreased their price objective on PPG Industries from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft decreased their price target on PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Royal Bank of Canada dropped their price objective on PPG Industries from $138.00 to $136.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 22nd. StockNews.com downgraded shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, December 20th. Finally, KeyCorp cut shares of PPG Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, December 16th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.

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.