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 PPG stock traded down $2.39 during trading hours on Friday, reaching $113.30. 1,460,739 shares of the company were exchanged, compared to its average volume of 2,093,757. PPG Industries, Inc. has a fifty-two week low of $113.14 and a fifty-two week high of $147.76. The stock’s fifty day moving average is $122.03 and its two-hundred day moving average is $125.05. The company has a market cap of $26.29 billion, a price-to-earnings ratio of 17.96, a P/E/G ratio of 1.90 and a beta of 1.24. 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 (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). PPG Industries had a return on equity of 23.63% and a net margin of 8.24%. The company had revenue of $4.58 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the previous year, the company posted $2.07 earnings per share. PPG Industries’s revenue for the quarter was down 1.5% on a year-over-year basis. Sell-side analysts forecast that PPG Industries, Inc. will post 8.18 earnings per share for the current fiscal 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 given a dividend of $0.68 per share. The ex-dividend date was Tuesday, November 12th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.40%. PPG Industries’s payout ratio is 43.11%.

Insider Buying and Selling

In other news, VP Anne M. Foulkes sold 1,985 shares of the business’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 value of $249,713.00. Following the transaction, the vice president now owns 13,454 shares in the company, valued at approximately $1,692,513.20. The trade was a 12.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.55% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PPG Industries

Several hedge funds and other institutional investors have recently made changes to their positions in PPG. Legend Financial Advisors Inc. acquired a new stake in PPG Industries during the 4th quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. boosted its position in PPG Industries by 465.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 243 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 200 shares during the period. Capital Performance Advisors LLP acquired a new stake in PPG Industries during the 3rd quarter worth approximately $34,000. Hara Capital LLC acquired a new stake in PPG Industries during the 3rd quarter worth approximately $40,000. Finally, Ashton Thomas Securities LLC acquired a new stake in PPG Industries during the 3rd quarter worth approximately $46,000. 81.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PPG has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and issued a $155.00 target price (down previously from $160.00) on shares of PPG Industries in a research note on Monday, October 21st. Citigroup lowered their target price on shares of PPG Industries from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Royal Bank of Canada lowered their price objective on shares of PPG Industries from $138.00 to $136.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 22nd. Mizuho lowered their price objective on shares of PPG Industries from $160.00 to $150.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Finally, StockNews.com downgraded shares of PPG Industries from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 20th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, PPG Industries currently 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.