HighTower Advisors LLC Trims Position in PPG Industries, Inc. $PPG

HighTower Advisors LLC trimmed its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 27.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 96,969 shares of the specialty chemicals company’s stock after selling 36,456 shares during the period. HighTower Advisors LLC’s holdings in PPG Industries were worth $11,761,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Meeder Asset Management Inc. purchased a new position in shares of PPG Industries during the second quarter worth $26,000. Keating Financial Advisory Services Inc. purchased a new stake in PPG Industries in the second quarter valued at $28,000. Pin Oak Investment Advisors Inc. purchased a new stake in PPG Industries in the second quarter valued at $29,000. Silvant Capital Management LLC acquired a new stake in PPG Industries during the 2nd quarter worth about $30,000. Finally, Quarry LP purchased a new position in shares of PPG Industries during the 3rd quarter valued at about $26,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PPG has been the topic of a number of recent research reports. BMO Capital Markets lowered their target price on PPG Industries from $140.00 to $138.00 and set an “outperform” rating on the stock in a research note on Monday, July 6th. Bank of America upgraded PPG Industries from a “neutral” rating to a “buy” rating and lifted their price target for the company from $127.00 to $134.00 in a research report on Friday, July 17th. UBS Group cut their target price on shares of PPG Industries from $130.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Wall Street Zen cut shares of PPG Industries from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Citigroup lowered their price target on shares of PPG Industries from $125.00 to $121.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, PPG Industries has an average rating of “Hold” and an average target price of $126.00.

PPG Industries Price Performance

NYSE:PPG opened at $107.29 on Thursday. The stock has a 50 day moving average of $115.13 and a two-hundred day moving average of $112.55. PPG Industries, Inc. has a 12 month low of $93.39 and a 12 month high of $133.43. The firm has a market cap of $23.85 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 1.78 and a beta of 1.07. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72.

PPG Industries (NYSE:PPG) last released its earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.02). PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. The firm had revenue of $4.50 billion during the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter last year, the business earned $2.22 EPS. The business’s revenue was up 7.2% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, analysts expect that PPG Industries, Inc. will post 7.89 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 10th will be paid a dividend of $0.74 per share. This is a boost from PPG Industries’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, August 10th. This represents a $2.96 annualized dividend and a yield of 2.8%. PPG Industries’s dividend payout ratio is presently 42.41%.

PPG Industries Company Profile

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. The company supplies protective and decorative coatings used in automotive, aerospace, industrial, marine, packaging and consumer applications. Its products are designed to protect surfaces, improve appearance and provide specialized performance characteristics such as corrosion resistance and durability.

PPG’s portfolio includes automotive refinish coatings, original-equipment automotive coatings, aerospace coatings, industrial and protective coatings, packaging coatings, and architectural paints and coatings.