Avior Wealth Management LLC Boosts Stock Position in PPG Industries, Inc. $PPG

Avior Wealth Management LLC increased its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 8,828.7% in the second quarter, HoldingsChannel reports. The firm owned 8,393 shares of the specialty chemicals company’s stock after buying an additional 8,299 shares during the quarter. Avior Wealth Management LLC’s holdings in PPG Industries were worth $955,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its position in PPG Industries by 5.6% during the 1st quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company’s stock worth $1,220,259,000 after purchasing an additional 592,152 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in PPG Industries by 58.3% during the 1st 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. Dimensional Fund Advisors LP increased its position in PPG Industries by 3.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,937,274 shares of the specialty chemicals company’s stock worth $321,147,000 after purchasing an additional 105,973 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in 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 worth $298,992,000 after purchasing an additional 85,891 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in PPG Industries by 2.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,174,762 shares of the specialty chemicals company’s stock worth $237,810,000 after purchasing an additional 60,301 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Performance

Shares of PPG opened at $103.94 on Tuesday. The business’s 50 day moving average is $109.73 and its two-hundred day moving average is $109.65. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $134.92. The firm has a market cap of $23.46 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 2.15 and a beta of 1.14. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76.

PPG Industries (NYSE:PPG) last announced its 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. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same period in the prior year, the company posted $2.50 EPS. PPG Industries’s quarterly revenue was down .9% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, August 11th were issued a $0.71 dividend. This is a positive change from PPG Industries’s previous quarterly dividend of $0.68. The ex-dividend date was Monday, August 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.7%. PPG Industries’s dividend payout ratio (DPR) is presently 64.40%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PPG. Royal Bank Of Canada boosted their target price on PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a report on Friday, August 1st. UBS Group boosted their target price on PPG Industries from $111.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, July 9th. Wells Fargo & Company boosted their target price on PPG Industries from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, July 1st. Citigroup boosted their target price on PPG Industries from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, June 13th. Finally, Mizuho boosted their target price on PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, PPG Industries currently has a consensus rating of “Moderate Buy” and an average price target of $129.82.

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.