Ashton Thomas Private Wealth LLC Has $575,000 Position in PPG Industries, Inc. $PPG

Key Points

• Ashton Thomas Private Wealth LLC decreased its position in PPG Industries by 78%, owning 5,262 shares worth $575,000 after selling 18,678 shares during the 1st quarter.
• Analysts have raised their target prices for PPG Industries, with estimates ranging from $115 to $135, and a consensus rating of "Moderate Buy."
• PPG Industries announced a quarterly dividend increase to $0.71 per share, representing a yield of 2.5% and a boost from the previous dividend of $0.68.

Ashton Thomas Private Wealth LLC reduced its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 78.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,262 shares of the specialty chemicals company's stock after selling 18,678 shares during the period. Ashton Thomas Private Wealth LLC's holdings in PPG Industries were worth $575,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of PPG. Park Square Financial Group LLC acquired a new position in shares of PPG Industries during the fourth quarter worth about $26,000. Cheviot Value Management LLC acquired a new position in shares of PPG Industries during the first quarter worth about $26,000. CVA Family Office LLC boosted its position in shares of PPG Industries by 70.6% during the first quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock worth $30,000 after buying an additional 113 shares during the period. Headlands Technologies LLC acquired a new position in shares of PPG Industries during the first quarter worth about $30,000. Finally, Financial Connections Group Inc. boosted its position in shares of PPG Industries by 74.6% during the first quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company's stock worth $38,000 after buying an additional 150 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PPG shares. Mizuho lifted their target price on PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Royal Bank Of Canada lifted their target price on PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. Citigroup lifted their target price on PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, June 13th. UBS Group lifted their target price on PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. Finally, Wells Fargo & Company lifted their target price on PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, PPG Industries presently has a consensus rating of "Moderate Buy" and an average price target of $129.82.

PPG Industries Price Performance

Shares of NYSE PPG opened at $111.90 on Friday. The business'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 $25.26 billion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 2.25 and a beta of 1.14. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $137.24.

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

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, August 11th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.5%. This is a boost from PPG Industries's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Monday, August 11th. PPG Industries's dividend payout ratio (DPR) is presently 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.

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