Wesbanco Bank Inc. Sells 1,179 Shares of PPG Industries, Inc. $PPG

Wesbanco Bank Inc. trimmed its holdings in PPG Industries, Inc. (NYSE:PPG) by 1.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 62,169 shares of the specialty chemicals company’s stock after selling 1,179 shares during the period. Wesbanco Bank Inc.’s holdings in PPG Industries were worth $7,072,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP boosted its position in PPG Industries by 5.6% in the first 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 during the last quarter. Price T Rowe Associates Inc. MD boosted its position in PPG Industries by 58.3% in the first 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 during the last quarter. Dimensional Fund Advisors LP boosted its position in PPG Industries by 3.7% in the first 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its position in PPG Industries by 3.2% in the first 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 during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in PPG Industries by 2.9% in the first 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 during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Down 0.9%

PPG stock opened at $110.79 on Friday. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76. The stock has a market cap of $25.00 billion, a P/E ratio of 25.12, a PEG ratio of 2.31 and a beta of 1.14. The business’s 50-day moving average price is $111.78 and its 200-day moving average price is $110.14.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, hitting 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 analysts’ expectations of $4.16 billion. During the same period in the previous year, the firm earned $2.50 EPS. The firm’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, equities research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Monday, August 11th were issued a $0.71 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $2.84 dividend on an annualized basis and a yield of 2.6%. This is a boost from PPG Industries’s previous quarterly dividend of $0.68. PPG Industries’s payout ratio is presently 64.40%.

Analyst Upgrades and Downgrades

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

About PPG Industries

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.