Wealthcare Advisory Partners LLC Cuts Stock Position in PPG Industries, Inc. $PPG

Wealthcare Advisory Partners LLC trimmed its position in shares of PPG Industries, Inc. (NYSE:PPG) by 4.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,997 shares of the specialty chemicals company’s stock after selling 197 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in PPG Industries were worth $455,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in PPG. Price T Rowe Associates Inc. MD increased its position in shares of PPG Industries by 58.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company’s stock worth $524,627,000 after purchasing an additional 1,766,518 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in PPG Industries in the 1st quarter valued at $127,152,000. Pzena Investment Management LLC purchased a new stake in PPG Industries in the 1st quarter valued at $105,349,000. Nuveen LLC purchased a new stake in PPG Industries in the 1st quarter valued at $79,881,000. Finally, Wellington Management Group LLP grew its holdings in PPG Industries by 5.6% in the 1st quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company’s stock valued at $1,220,259,000 after buying an additional 592,152 shares in the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PPG shares. Mizuho dropped their target price on PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. Citigroup dropped their target price on PPG Industries from $124.00 to $120.00 and set a “buy” rating for the company in a report on Monday. UBS Group dropped their target price on PPG Industries from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Monday. Wells Fargo & Company upped their target price on PPG Industries from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of PPG Industries in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and an average target price of $127.09.

PPG Industries Price Performance

PPG stock opened at $99.51 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.04. The firm has a market capitalization of $22.46 billion, a P/E ratio of 22.56, a P/E/G ratio of 2.11 and a beta of 1.16. The business’s 50-day moving average is $108.19 and its two-hundred day moving average is $109.16. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $132.18.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.22. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.16 billion. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.PPG Industries’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the company earned $2.50 EPS. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, August 11th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, August 11th. This is an increase from PPG Industries’s previous quarterly dividend of $0.68. PPG Industries’s dividend payout ratio (DPR) is currently 64.40%.

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.