ProShare Advisors LLC Increases Stake in PPG Industries, Inc. $PPG

ProShare Advisors LLC grew its position in shares of PPG Industries, Inc. (NYSE:PPG) by 12.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,601,445 shares of the specialty chemicals company’s stock after purchasing an additional 178,210 shares during the period. ProShare Advisors LLC owned approximately 0.71% of PPG Industries worth $182,164,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PPG. Capital Advisors Ltd. LLC boosted its holdings in PPG Industries by 127.6% in the second quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 125 shares during the last quarter. Cheviot Value Management LLC acquired a new stake in shares of PPG Industries during the first quarter worth approximately $26,000. Headlands Technologies LLC bought a new stake in shares of PPG Industries in the first quarter worth $30,000. Gladwyn Financial Advisors Inc. acquired a new stake in PPG Industries in the second quarter valued at $31,000. Finally, Financial Connections Group Inc. grew its holdings in PPG Industries by 74.6% during the 1st quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PPG has been the subject of a number of research reports. Citigroup decreased their price target on PPG Industries from $124.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, October 6th. Royal Bank Of Canada boosted their price target on PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a report on Friday, August 1st. Mizuho reduced their price objective on PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. UBS Group lowered their target price on shares of PPG Industries from $115.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. Finally, Bank of America reduced 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 report on Tuesday, October 14th. One equities research 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. According to MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and an average target price of $124.30.

PPG Industries Price Performance

NYSE PPG opened at $96.24 on Monday. The stock has a 50-day simple moving average of $104.01 and a 200 day simple moving average of $108.93. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $130.05. The stock has a market capitalization of $21.60 billion, a PE ratio of 21.82, a P/E/G ratio of 2.13 and a beta of 1.19. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.47.

PPG Industries (NYSE:PPG) last announced its 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%. PPG Industries’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.13 earnings per share. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Research analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

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