Cullen Capital Management LLC Takes $46.84 Million Position in PPG Industries, Inc. $PPG

Cullen Capital Management LLC bought a new position in PPG Industries, Inc. (NYSE:PPG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 411,757 shares of the specialty chemicals company’s stock, valued at approximately $46,837,000. Cullen Capital Management LLC owned about 0.18% of PPG Industries at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital Advisors Ltd. LLC increased its stake in shares of PPG Industries by 127.6% during the second 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 during the period. Gladwyn Financial Advisors Inc. bought a new stake in PPG Industries in the second quarter valued at $31,000. Vermillion & White Wealth Management Group LLC increased its position in PPG Industries by 100.7% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 273 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 137 shares during the period. Rothschild Investment LLC lifted its position in shares of PPG Industries by 184.0% in the 2nd quarter. Rothschild Investment LLC now owns 284 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 184 shares during the period. Finally, Addison Advisors LLC lifted its position in shares of PPG Industries by 1,515.8% in the 2nd quarter. Addison Advisors LLC now owns 307 shares of the specialty chemicals company’s stock worth $35,000 after purchasing an additional 288 shares during the period. Institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PPG shares. Weiss Ratings reissued a “hold (c-)” rating on shares of PPG Industries in a research note on Friday, October 31st. Citigroup decreased their target price on PPG Industries from $124.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, October 6th. Evercore ISI dropped their price target on PPG Industries from $145.00 to $112.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 11th. JPMorgan Chase & Co. increased their price objective on PPG Industries from $112.00 to $117.00 and gave the stock an “overweight” rating in a report on Friday, November 21st. Finally, Sanford C. Bernstein dropped their target price on shares of PPG Industries from $129.00 to $123.00 and set an “outperform” rating on the stock in a report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $122.54.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $103.48 on Monday. The business has a fifty day moving average price of $99.48 and a 200-day moving average price of $106.99. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.08. The company has a market capitalization of $23.22 billion, a PE ratio of 23.46, a PEG ratio of 2.84 and a beta of 1.16. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $124.87.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $2.13 EPS for the quarter, beating the consensus estimate of $2.09 by $0.04. The company had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.06 billion. PPG Industries had a net margin of 6.35% and a return on equity of 23.61%. PPG Industries’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $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 fiscal year.

PPG Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Monday, November 10th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $2.84 annualized dividend and a dividend yield of 2.7%. PPG Industries’s dividend payout ratio (DPR) 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.