Spire Wealth Management Sells 1,859 Shares of PPG Industries, Inc. $PPG

Spire Wealth Management trimmed its position in shares of PPG Industries, Inc. (NYSE:PPG) by 70.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 768 shares of the specialty chemicals company’s stock after selling 1,859 shares during the period. Spire Wealth Management’s holdings in PPG Industries were worth $87,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PPG. Brighton Jones LLC grew its holdings in PPG Industries by 9.1% during the 4th quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock valued at $487,000 after purchasing an additional 339 shares during the last quarter. Penserra Capital Management LLC grew its holdings in PPG Industries by 1,007.5% during the 1st quarter. Penserra Capital Management LLC now owns 6,756 shares of the specialty chemicals company’s stock valued at $738,000 after purchasing an additional 6,146 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in PPG Industries by 0.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 249,755 shares of the specialty chemicals company’s stock valued at $27,311,000 after purchasing an additional 1,697 shares during the last quarter. TD Private Client Wealth LLC grew its holdings in PPG Industries by 31.6% during the 1st quarter. TD Private Client Wealth LLC now owns 6,263 shares of the specialty chemicals company’s stock valued at $685,000 after purchasing an additional 1,503 shares during the last quarter. Finally, Financial Counselors Inc. grew its holdings in PPG Industries by 18.1% during the 1st quarter. Financial Counselors Inc. now owns 3,744 shares of the specialty chemicals company’s stock valued at $409,000 after purchasing an additional 575 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Price Performance

NYSE PPG opened at $96.31 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.47. The firm’s 50 day moving average price is $104.63 and its 200-day moving average price is $108.95. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $130.05. The company has a market cap of $21.61 billion, a PE ratio of 21.84, a P/E/G ratio of 2.13 and a beta of 1.16.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.04. PPG Industries had a net margin of 6.35% and a return on equity of 24.17%. The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same period last year, the firm earned $2.13 earnings per share. The company’s quarterly 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. Sell-side analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

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 given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. PPG Industries’s dividend payout ratio is presently 64.40%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Royal Bank Of Canada upped their target price on shares of PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a research note on Friday, August 1st. Bank of America dropped their target price 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. UBS Group dropped their target price on shares of PPG Industries from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Weiss Ratings restated a “hold (c-)” rating on shares of PPG Industries in a research note on Friday, October 31st. Finally, JPMorgan Chase & Co. upgraded shares of PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 target price on the stock in a research note on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and a consensus price target 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.