PPG Industries, Inc. $PPG Shares Purchased by Clear Creek Financial Management LLC

Clear Creek Financial Management LLC boosted its position in PPG Industries, Inc. (NYSE:PPG) by 33.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,925 shares of the specialty chemicals company’s stock after purchasing an additional 731 shares during the period. Clear Creek Financial Management LLC’s holdings in PPG Industries were worth $333,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Mraz Amerine & Associates Inc. acquired a new stake in PPG Industries in the second quarter valued at about $341,000. DHJJ Financial Advisors Ltd. acquired a new stake in shares of PPG Industries during the 2nd quarter valued at approximately $114,000. Mattern Capital Management LLC lifted its position in shares of PPG Industries by 3.3% during the 2nd quarter. Mattern Capital Management LLC now owns 73,206 shares of the specialty chemicals company’s stock valued at $8,327,000 after acquiring an additional 2,329 shares during the period. Cromwell Holdings LLC lifted its position in shares of PPG Industries by 39.7% during the 2nd quarter. Cromwell Holdings LLC now owns 549 shares of the specialty chemicals company’s stock valued at $62,000 after acquiring an additional 156 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of PPG Industries by 12.2% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,329 shares of the specialty chemicals company’s stock valued at $4,360,000 after acquiring an additional 4,164 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PPG shares. Mizuho reduced their price target on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of PPG Industries in a research report on Wednesday. UBS Group reduced their price target on shares of PPG Industries from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Wells Fargo & Company reduced their price target on shares of PPG Industries from $135.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Citigroup reduced their price target on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, PPG Industries has an average rating of “Moderate Buy” and an average target price of $126.82.

PPG Industries Trading Down 1.2%

Shares of PPG opened at $98.45 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 50 day simple moving average of $108.07 and a 200-day simple moving average of $109.05. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $132.18. The stock has a market cap of $22.22 billion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 2.04 and a beta of 1.16.

PPG Industries (NYSE:PPG) last released its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, hitting the consensus estimate of $2.22. The firm had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.16 billion. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. PPG Industries’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the company earned $2.50 EPS. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Equities analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Monday, August 11th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, August 11th. This is an increase from PPG Industries’s previous quarterly dividend of $0.68. PPG Industries’s dividend payout ratio is presently 64.40%.

PPG Industries 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.