Wealthfront Advisers LLC Lowers Holdings in PPG Industries, Inc. $PPG

Wealthfront Advisers LLC lowered its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 33.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,907 shares of the specialty chemicals company’s stock after selling 11,433 shares during the quarter. Wealthfront Advisers LLC’s holdings in PPG Industries were worth $2,606,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Capital Advisors Ltd. LLC raised its position in shares of PPG Industries by 127.6% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 125 shares in the last quarter. Cheviot Value Management LLC purchased a new stake in shares of PPG Industries during the 1st quarter valued at $26,000. Gladwyn Financial Advisors Inc. purchased a new stake in shares of PPG Industries during the 2nd quarter valued at $31,000. Headlands Technologies LLC purchased a new stake in shares of PPG Industries during the 1st quarter valued at $30,000. Finally, Financial Connections Group Inc. raised its position in shares of PPG Industries by 74.6% during the 1st quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company’s stock valued at $38,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PPG shares. Bank of America lowered their price objective on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Citigroup reduced their target price on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, October 6th. Royal Bank Of Canada increased their target price on shares of PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a report on Friday, August 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PPG Industries in a report on Wednesday, October 8th. Finally, Wells Fargo & Company reduced their target price on shares of PPG Industries from $135.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and a consensus price target of $125.00.

PPG Industries Price Performance

Shares of PPG Industries stock opened at $99.09 on Thursday. The firm has a market cap of $22.37 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 2.22 and a beta of 1.16. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $130.05. 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 company’s fifty day simple moving average is $106.26 and its two-hundred day simple moving average is $109.07.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.04. The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.06 billion. PPG Industries had a net margin of 6.35% and a return on equity of 24.17%. The company’s revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.13 EPS. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. As a group, equities analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Monday, November 10th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, November 10th. PPG Industries’s dividend payout ratio (DPR) is 64.40%.

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.