Fifth Third Wealth Advisors LLC Acquires 2,225 Shares of PPG Industries, Inc. $PPG

Fifth Third Wealth Advisors LLC boosted its position in PPG Industries, Inc. (NYSE:PPG) by 55.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,202 shares of the specialty chemicals company’s stock after buying an additional 2,225 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in PPG Industries were worth $705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Envestnet Asset Management Inc. increased its position in PPG Industries by 0.7% in the first 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 last quarter. Clear Creek Financial Management LLC purchased a new stake in PPG Industries in the first quarter worth $240,000. Principal Financial Group Inc. increased its position in PPG Industries by 4.4% in the first quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company’s stock worth $33,129,000 after buying an additional 12,650 shares during the last quarter. Meridian Wealth Management LLC increased its position in PPG Industries by 311.2% in the first quarter. Meridian Wealth Management LLC now owns 7,665 shares of the specialty chemicals company’s stock worth $838,000 after buying an additional 5,801 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its position in PPG Industries by 966.3% in the first quarter. Golden State Wealth Management LLC now owns 885 shares of the specialty chemicals company’s stock worth $97,000 after buying an additional 802 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PPG shares. 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. Weiss Ratings reissued a “hold (c)” rating on shares of PPG Industries in a research report on Wednesday, October 8th. UBS Group reduced their price target on PPG Industries from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Wells Fargo & Company reduced their price target on PPG Industries from $135.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Mizuho reduced their price target 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. One 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $126.82.

PPG Industries Price Performance

Shares of NYSE PPG opened at $98.45 on Monday. The stock has a market cap of $22.22 billion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 2.04 and a beta of 1.16. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $132.18. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42. The stock has a fifty day moving average of $108.07 and a 200-day moving average of $109.06.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.22. The company had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.16 billion. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the company earned $2.50 earnings per share. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Equities research analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Monday, August 11th were paid a dividend of $0.71 per share. This is a positive change from PPG Industries’s previous quarterly dividend of $0.68. This represents a $2.84 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, August 11th. PPG Industries’s dividend payout ratio is 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.