Koshinski Asset Management Inc. Has $235,000 Stake in PPG Industries, Inc. $PPG

Koshinski Asset Management Inc. trimmed its position in PPG Industries, Inc. (NYSE:PPG) by 24.0% in the second quarter, HoldingsChannel.com reports. The firm owned 2,067 shares of the specialty chemicals company’s stock after selling 651 shares during the period. Koshinski Asset Management Inc.’s holdings in PPG Industries were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PPG. VELA Investment Management LLC acquired a new stake in PPG Industries in the 2nd quarter valued at $518,000. Applied Finance Capital Management LLC lifted its holdings in shares of PPG Industries by 2.1% during the second quarter. Applied Finance Capital Management LLC now owns 5,821 shares of the specialty chemicals company’s stock valued at $662,000 after acquiring an additional 121 shares during the period. Nordea Investment Management AB boosted its stake in shares of PPG Industries by 4.8% in the 2nd quarter. Nordea Investment Management AB now owns 20,416 shares of the specialty chemicals company’s stock valued at $2,324,000 after purchasing an additional 938 shares in the last quarter. Bridges Investment Management Inc. grew its holdings in shares of PPG Industries by 12.2% in the 2nd quarter. Bridges Investment Management Inc. now owns 17,040 shares of the specialty chemicals company’s stock worth $1,938,000 after purchasing an additional 1,847 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new stake in shares of PPG Industries during the 2nd quarter worth about $144,000. Institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PPG shares. Citigroup cut their price target 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. Wells Fargo & Company cut their target price on shares of PPG Industries from $135.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday, October 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of PPG Industries in a research report on Wednesday, October 8th. Royal Bank Of Canada boosted their target price on shares of PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. upgraded shares of PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 target price on the stock in a research report on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, PPG Industries currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.00.

PPG Industries Stock Up 2.3%

Shares of NYSE:PPG opened at $104.49 on Wednesday. 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 stock has a market cap of $23.58 billion, a price-to-earnings ratio of 23.69, a P/E/G ratio of 2.15 and a beta of 1.16. The company has a 50 day moving average of $107.32 and a 200-day moving average of $108.78. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $130.05.

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, meeting the consensus estimate of $2.22. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The business 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 business posted $2.50 earnings per share. PPG Industries’s revenue was down .9% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, sell-side analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Monday, November 10th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.7%. The ex-dividend date is Monday, November 10th. PPG Industries’s dividend payout ratio is currently 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.