12,006 Shares in PPG Industries, Inc. $PPG Bought by MOKAN Wealth Management Inc.

Key Points

• MOKAN Wealth Management Inc. acquired 12,006 shares of PPG Industries, valued at approximately $1,366,000, during the second quarter.
• PPG Industries reported earnings of $2.22 per share for the last quarter, meeting analyst expectations, with revenue of $4.20 billion compared to estimates of $4.16 billion.
• The company recently increased its quarterly dividend to $0.71 per share, representing an annualized dividend yield of 2.9%.

MOKAN Wealth Management Inc. bought a new position in PPG Industries, Inc. (NYSE:PPG - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,006 shares of the specialty chemicals company's stock, valued at approximately $1,366,000.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its position in shares of PPG Industries by 9.1% in the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company's stock worth $487,000 after buying an additional 339 shares during the period. Park Avenue Securities LLC boosted its position in shares of PPG Industries by 53.3% in the first quarter. Park Avenue Securities LLC now owns 3,625 shares of the specialty chemicals company's stock worth $396,000 after buying an additional 1,260 shares during the period. Farther Finance Advisors LLC boosted its position in shares of PPG Industries by 142.0% in the first quarter. Farther Finance Advisors LLC now owns 5,526 shares of the specialty chemicals company's stock worth $602,000 after buying an additional 3,243 shares during the period. GAMMA Investing LLC boosted its position in shares of PPG Industries by 8.3% in the first quarter. GAMMA Investing LLC now owns 6,626 shares of the specialty chemicals company's stock worth $725,000 after buying an additional 505 shares during the period. Finally, CX Institutional acquired a new stake in shares of PPG Industries in the first quarter worth $44,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Price Performance

NYSE PPG opened at $98.45 on Monday. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $132.18. The stock's 50-day moving average is $108.07 and its two-hundred day moving average is $109.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.04. The firm has a market cap of $22.22 billion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 2.04 and a beta of 1.16.

PPG Industries (NYSE:PPG - Get Free Report) last posted its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, meeting the consensus estimate of $2.22. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same period last year, the company earned $2.50 earnings per share. The business's revenue was down .9% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Monday, August 11th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.9%. This is an increase from PPG Industries's previous quarterly dividend of $0.68. The ex-dividend date was Monday, August 11th. PPG Industries's dividend payout ratio is 64.40%.

Analyst Upgrades and Downgrades

PPG has been the subject of several recent analyst reports. Royal Bank Of Canada raised their target price on PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. Wells Fargo & Company decreased their target price on PPG Industries from $135.00 to $132.00 and set an "overweight" rating for the company in a research report on Friday. UBS Group reduced their price objective on PPG Industries from $125.00 to $115.00 and set a "neutral" rating for the company in a research report on Monday, October 6th. Mizuho reduced their price objective on PPG Industries from $135.00 to $125.00 and set an "outperform" rating for the company in a research report on Friday, October 3rd. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of PPG Industries in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $126.82.

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.

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