Alliancebernstein L.P. Has $58.09 Million Position in PPG Industries, Inc. $PPG

Alliancebernstein L.P. lifted its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 16.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 531,230 shares of the specialty chemicals company's stock after buying an additional 73,650 shares during the quarter. Alliancebernstein L.P. owned about 0.23% of PPG Industries worth $58,090,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Park Square Financial Group LLC acquired a new stake in shares of PPG Industries in the fourth quarter valued at approximately $26,000. Cheviot Value Management LLC acquired a new stake in shares of PPG Industries in the first quarter valued at approximately $26,000. CVA Family Office LLC raised its position in shares of PPG Industries by 70.6% in the first quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock valued at $30,000 after buying an additional 113 shares in the last quarter. Headlands Technologies LLC acquired a new position in PPG Industries in the 1st quarter valued at $30,000. Finally, Financial Connections Group Inc. raised its holdings in PPG Industries by 74.6% in the 1st quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company's stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company's stock.

PPG Industries Price Performance

NYSE PPG traded down $1.18 during trading on Friday, hitting $110.65. 410,474 shares of the company's stock were exchanged, compared to its average volume of 2,015,713. The stock's 50 day moving average price is $111.93 and its two-hundred day moving average price is $110.20. The company has a market cap of $24.97 billion, a PE ratio of 25.08, a P/E/G ratio of 2.25 and a beta of 1.14. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $137.24. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.22. The business had revenue of $4.20 billion during the quarter, compared to analysts' expectations of $4.16 billion. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The firm's quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.50 EPS. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, August 11th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, August 11th. This is a boost from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's payout ratio is currently 64.40%.

Analyst Upgrades and Downgrades

PPG has been the subject of several analyst reports. Citigroup lifted their price objective on PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a report on Friday, June 13th. UBS Group boosted their price target on PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Wells Fargo & Company boosted their target price on shares of PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Mizuho boosted their target price on shares of PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Finally, Royal Bank Of Canada boosted their price objective on shares of PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. 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 company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $129.82.

PPG Industries 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.