Wealthfront Advisers LLC Takes $2.16 Million Position in PPG Industries, Inc. $PPG

Wealthfront Advisers LLC purchased a new position in PPG Industries, Inc. (NYSE:PPG) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 17,834 shares of the specialty chemicals company’s stock, valued at approximately $2,163,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nvest Wealth Strategies Inc. bought a new stake in PPG Industries during the 4th quarter valued at about $505,000. Cooke & Bieler LP grew its stake in PPG Industries by 16.7% in the 4th quarter. Cooke & Bieler LP now owns 1,616,672 shares of the specialty chemicals company’s stock worth $165,644,000 after acquiring an additional 231,537 shares in the last quarter. Equity Investment Corp increased its position in shares of PPG Industries by 3.4% during the fourth quarter. Equity Investment Corp now owns 995,323 shares of the specialty chemicals company’s stock worth $101,981,000 after acquiring an additional 32,337 shares during the period. ProShare Advisors LLC raised its stake in shares of PPG Industries by 6.6% during the fourth quarter. ProShare Advisors LLC now owns 1,600,226 shares of the specialty chemicals company’s stock valued at $163,959,000 after acquiring an additional 98,430 shares in the last quarter. Finally, Entropy Technologies LP raised its stake in shares of PPG Industries by 80.2% during the fourth quarter. Entropy Technologies LP now owns 61,784 shares of the specialty chemicals company’s stock valued at $6,330,000 after acquiring an additional 27,493 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PPG has been the topic of several research analyst reports. Bank of America raised PPG Industries from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $127.00 to $134.00 in a research note on Friday, July 17th. JPMorgan Chase & Co. decreased their target price on PPG Industries from $126.00 to $125.00 in a research report on Thursday, April 30th. The Goldman Sachs Group lowered their target price on PPG Industries from $134.00 to $130.00 in a report on Friday, May 1st. Weiss Ratings raised PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Finally, BMO Capital Markets cut their price target 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. Seven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, PPG Industries currently has a consensus rating of “Hold” and an average target price of $126.00.

PPG Industries Stock Performance

Shares of NYSE:PPG opened at $112.53 on Friday. The firm has a 50 day moving average of $117.42 and a 200 day moving average of $114.01. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $25.02 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 1.65 and a beta of 1.07. PPG Industries, Inc. has a 52 week low of $93.39 and a 52 week high of $133.43.

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

PPG Industries Increases Dividend

The business 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 $0.74 dividend. This represents a $2.96 annualized dividend and a yield of 2.6%. This is a boost from PPG Industries’s previous quarterly dividend of $0.71. The ex-dividend date is Monday, August 10th. PPG Industries’s payout ratio is presently 42.41%.

About PPG Industries

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.