Commonwealth Financial Services LLC Lowers Position in PPG Industries, Inc. $PPG

Commonwealth Financial Services LLC cut its stake in PPG Industries, Inc. (NYSE:PPG) by 1.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,859 shares of the specialty chemicals company’s stock after selling 146 shares during the period. Commonwealth Financial Services LLC’s holdings in PPG Industries were worth $1,690,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Advisors Ltd. LLC lifted its holdings in PPG Industries by 127.6% in the second quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 125 shares during the period. Cheviot Value Management LLC purchased a new position in shares of PPG Industries during the first quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new position in shares of PPG Industries during the first quarter valued at approximately $30,000. CVA Family Office LLC grew its stake in shares of PPG Industries by 70.6% in the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company’s stock worth $30,000 after buying an additional 113 shares during the last quarter. Finally, Financial Connections Group Inc. increased its position in PPG Industries by 74.6% during the 1st quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company’s stock valued at $38,000 after buying an additional 150 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

A number of research analysts recently weighed in on the company. Mizuho reduced their price objective on PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Wells Fargo & Company reduced their price objective on PPG Industries from $135.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday. Royal Bank Of Canada raised their price objective on PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a research report on Friday, August 1st. Citigroup reduced their price objective on PPG Industries from $124.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, October 6th. Finally, UBS Group decreased their price objective on shares of PPG Industries from $125.00 to $115.00 and set a “neutral” rating for the company in a report on Monday, October 6th. One equities 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $126.82.

PPG Industries Price Performance

Shares of NYSE PPG opened at $98.45 on Friday. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $132.18. The firm has a market cap of $22.22 billion, a P/E ratio of 22.32, a PEG ratio of 2.04 and a beta of 1.16. The company has a 50 day moving average of $108.07 and a 200 day moving average of $109.05. 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 quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.22. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The company had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.16 billion. During the same period in the previous year, the business earned $2.50 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. As a group, research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Increases Dividend

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