W.H. Cornerstone Investments Inc. Boosts Stock Position in PPG Industries, Inc. $PPG

W.H. Cornerstone Investments Inc. increased its holdings in PPG Industries, Inc. (NYSE:PPG) by 27.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 10,685 shares of the specialty chemicals company’s stock after buying an additional 2,321 shares during the period. W.H. Cornerstone Investments Inc.’s holdings in PPG Industries were worth $1,215,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Meridian Wealth Management LLC lifted its position in PPG Industries by 311.2% during the first quarter. Meridian Wealth Management LLC now owns 7,665 shares of the specialty chemicals company’s stock valued at $838,000 after acquiring an additional 5,801 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of PPG Industries by 10.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 494,482 shares of the specialty chemicals company’s stock worth $54,060,000 after acquiring an additional 48,177 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of PPG Industries by 3.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,734,270 shares of the specialty chemicals company’s stock valued at $298,992,000 after buying an additional 85,891 shares during the last quarter. Jefferies Financial Group Inc. grew its stake in shares of PPG Industries by 72.5% during the 1st quarter. Jefferies Financial Group Inc. now owns 8,194 shares of the specialty chemicals company’s stock worth $896,000 after purchasing an additional 3,443 shares during the period. Finally, Avior Wealth Management LLC boosted its stake in shares of PPG Industries by 8,828.7% during the 2nd quarter. Avior Wealth Management LLC now owns 8,393 shares of the specialty chemicals company’s stock worth $955,000 after acquiring an additional 8,299 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Trading Up 0.7%

Shares of PPG traded up $0.71 during mid-day trading on Thursday, hitting $98.20. The company had a trading volume of 174,681 shares, compared to its average volume of 1,990,229. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $130.05. The business’s 50-day simple moving average is $103.20 and its 200-day simple moving average is $108.74. The stock has a market cap of $22.04 billion, a PE ratio of 22.27, a P/E/G ratio of 2.13 and a beta of 1.19. The company has a quick ratio of 1.04, a current ratio of 1.47 and a debt-to-equity ratio of 0.76.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.04. PPG Industries had a return on equity of 24.17% and a net margin of 6.35%.The firm had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the prior year, the business posted $2.13 earnings per share. PPG Industries’s revenue for the quarter was up 1.2% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Sell-side analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, November 10th will be given a $0.71 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. PPG Industries’s dividend payout ratio (DPR) is currently 64.40%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PPG shares. Citigroup dropped their target price on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating for the company in a report on Monday, October 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of PPG Industries in a research note on Friday, October 31st. JPMorgan Chase & Co. raised PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 target price for the company in a research note on Thursday, October 16th. UBS Group lowered their price target on PPG Industries from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. Finally, Zacks Research downgraded PPG Industries from a “hold” rating to a “strong sell” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $123.18.

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.