Ellevest Inc. Sells 980 Shares of PPG Industries, Inc. $PPG

Ellevest Inc. cut its stake in PPG Industries, Inc. (NYSE:PPG) by 20.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,877 shares of the specialty chemicals company’s stock after selling 980 shares during the quarter. Ellevest Inc.’s holdings in PPG Industries were worth $441,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. South Dakota Investment Council increased its stake in shares of PPG Industries by 393.5% in the 2nd quarter. South Dakota Investment Council now owns 79,554 shares of the specialty chemicals company’s stock valued at $9,049,000 after acquiring an additional 63,433 shares during the last quarter. iA Global Asset Management Inc. boosted its position in shares of PPG Industries by 35.6% during the second quarter. iA Global Asset Management Inc. now owns 7,529 shares of the specialty chemicals company’s stock worth $856,000 after purchasing an additional 1,978 shares in the last quarter. Cambiar Investors LLC boosted its position in shares of PPG Industries by 11.0% during the second quarter. Cambiar Investors LLC now owns 433,062 shares of the specialty chemicals company’s stock worth $49,261,000 after purchasing an additional 42,805 shares in the last quarter. Cooke & Bieler LP boosted its position in shares of PPG Industries by 18.2% during the second quarter. Cooke & Bieler LP now owns 1,337,543 shares of the specialty chemicals company’s stock worth $152,146,000 after purchasing an additional 206,144 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. bought a new position in shares of PPG Industries during the second quarter worth $271,000. 81.86% of the stock is owned by institutional investors.

PPG Industries Stock Up 1.5%

PPG Industries stock opened at $96.31 on Thursday. The company has a market cap of $21.61 billion, a P/E ratio of 21.84, a price-to-earnings-growth ratio of 2.13 and a beta of 1.16. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $130.05. The company has a fifty day simple moving average of $104.63 and a 200 day simple moving average of $108.95. The company has a current ratio of 1.47, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76.

PPG Industries (NYSE:PPG) last released its earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.04. PPG Industries had a return on equity of 24.17% and a net margin of 6.35%.The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the prior year, the company posted $2.13 earnings per share. PPG Industries’s revenue was up 1.2% on a year-over-year basis. 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 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PPG. Royal Bank Of Canada increased their price target on PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a report on Friday, August 1st. JPMorgan Chase & Co. upgraded PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 price target for the company in a report on Thursday, October 16th. Mizuho cut their price target on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Bank of America cut 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 note on Tuesday, October 14th. Finally, Wells Fargo & Company cut their price target on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $124.30.

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.