Parkside Financial Bank & Trust Raises Stock Holdings in PPG Industries, Inc. $PPG

Parkside Financial Bank & Trust grew its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 523.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,511 shares of the specialty chemicals company’s stock after buying an additional 3,788 shares during the period. Parkside Financial Bank & Trust’s holdings in PPG Industries were worth $513,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in shares of PPG Industries by 9.1% in the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock worth $487,000 after purchasing an additional 339 shares during the period. Envestnet Asset Management Inc. boosted its holdings in PPG Industries by 0.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 249,755 shares of the specialty chemicals company’s stock worth $27,311,000 after buying an additional 1,697 shares during the period. Valeo Financial Advisors LLC purchased a new stake in PPG Industries in the 1st quarter worth $214,000. Greenleaf Trust increased its stake in PPG Industries by 7.0% in the 1st quarter. Greenleaf Trust now owns 7,448 shares of the specialty chemicals company’s stock worth $814,000 after buying an additional 490 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in PPG Industries by 3.9% during the first quarter. Nisa Investment Advisors LLC now owns 48,136 shares of the specialty chemicals company’s stock valued at $5,264,000 after acquiring an additional 1,785 shares during the period. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Trading Up 1.1%

Shares of PPG stock opened at $96.24 on Friday. The company has a market cap of $21.60 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 2.13 and a beta of 1.19. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $130.05. The stock’s 50 day simple moving average is $104.01 and its two-hundred day simple moving average is $108.88. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.47 and a quick ratio of 1.04.

PPG Industries (NYSE:PPG) last released its earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the previous year, the company posted $2.13 EPS. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Research analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, November 10th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. PPG Industries’s dividend payout ratio is currently 64.40%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PPG shares. UBS Group decreased their target price on PPG Industries from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Royal Bank Of Canada lifted their price objective on shares of PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a research report on Friday, August 1st. Weiss Ratings restated a “hold (c-)” rating on shares of PPG Industries in a research report on Friday, October 31st. Wells Fargo & Company reduced their price target on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Finally, Bank of America decreased their price target on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. One 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $124.30.

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.