PPG Industries, Inc. $PPG Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its stake in PPG Industries, Inc. (NYSE:PPG) by 8.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 55,846 shares of the specialty chemicals company’s stock after selling 5,395 shares during the quarter. Corient Private Wealth LLC’s holdings in PPG Industries were worth $6,353,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PPG. 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 worth $25,000 after purchasing an additional 125 shares during the last quarter. Gladwyn Financial Advisors Inc. acquired a new stake in PPG Industries in the 2nd quarter worth about $31,000. Vermillion & White Wealth Management Group LLC increased its stake 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 worth $31,000 after buying an additional 137 shares in the last quarter. Rothschild Investment LLC raised its holdings in shares of PPG Industries by 184.0% during the second quarter. Rothschild Investment LLC now owns 284 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 184 shares during the last quarter. Finally, Addison Advisors LLC lifted its position in shares of PPG Industries by 1,515.8% in the second quarter. Addison Advisors LLC now owns 307 shares of the specialty chemicals company’s stock valued at $35,000 after acquiring an additional 288 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Performance

NYSE:PPG opened at $102.69 on Friday. The company’s 50-day moving average is $99.72 and its two-hundred day moving average is $106.79. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $124.74. 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 firm has a market capitalization of $23.04 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 2.82 and a beta of 1.16.

PPG Industries (NYSE:PPG) last released its quarterly earnings results 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. PPG Industries had a net margin of 6.35% and a return on equity of 23.61%. The firm had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the previous year, the company earned $2.13 EPS. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Monday, November 10th were issued a dividend of $0.71 per share. The ex-dividend date was Monday, November 10th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.8%. PPG Industries’s dividend payout ratio is currently 64.40%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Bank of America dropped their price target on PPG Industries from $131.00 to $129.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Citigroup raised their price objective on PPG Industries from $116.00 to $120.00 and gave the company a “buy” rating in a report on Thursday. UBS Group dropped their target price on shares of PPG Industries from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. JPMorgan Chase & Co. increased their target price on shares of PPG Industries from $112.00 to $117.00 and gave the company an “overweight” rating in a research report on Friday, November 21st. Finally, Wells Fargo & Company lowered 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 report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $122.54.

About PPG Industries

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.