Callan Family Office LLC Invests $331,000 in PPG Industries, Inc. $PPG

Key Points

• Callan Family Office LLC invested approximately $331,000 in PPG Industries by purchasing 2,906 shares during the second quarter.
• PPG Industries reported earnings of $2.22 per share for the last quarter, meeting analysts' estimates, while also experiencing a 0.9% decline in year-over-year revenue.
• Several hedge funds have increased their stakes in PPG Industries, with institutional investors owning 81.86% of the company's stock.

Callan Family Office LLC purchased a new position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,906 shares of the specialty chemicals company's stock, valued at approximately $331,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Capital Advisors Ltd. LLC boosted its position 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 worth $25,000 after buying an additional 125 shares during the period. Columbia Advisory Partners LLC purchased a new position in shares of PPG Industries during the second quarter worth $318,000. Armstrong Fleming & Moore Inc purchased a new position in shares of PPG Industries during the second quarter worth $210,000. Optas LLC purchased a new position in shares of PPG Industries during the second quarter worth $392,000. Finally, Clear Creek Financial Management LLC boosted its position in shares of PPG Industries by 33.3% during the second quarter. Clear Creek Financial Management LLC now owns 2,925 shares of the specialty chemicals company's stock worth $333,000 after buying an additional 731 shares during the period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Stock Performance

NYSE PPG opened at $99.39 on Thursday. 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 52-week low of $90.24 and a 52-week high of $132.18. The business's 50-day moving average price is $107.70 and its 200 day moving average price is $108.87. The firm has a market cap of $22.43 billion, a P/E ratio of 22.54, a P/E/G ratio of 2.09 and a beta of 1.16.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings results 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. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The firm had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same quarter last year, the company posted $2.50 earnings per share. The business's revenue was down .9% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, equities research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

Analyst Upgrades and Downgrades

PPG has been the topic of several analyst reports. Wells Fargo & Company reduced their price objective on PPG Industries from $135.00 to $132.00 and set an "overweight" rating on the stock in a research note on Friday, October 10th. Citigroup reduced their price objective on PPG Industries from $124.00 to $120.00 and set a "buy" rating on the stock in a research note on Monday, October 6th. Bank of America reduced their price objective on PPG Industries from $131.00 to $129.00 and set a "neutral" rating on the stock in a research note on Tuesday. UBS Group reduced their price objective on PPG Industries from $125.00 to $115.00 and set a "neutral" rating on the stock in a research note on Monday, October 6th. Finally, Royal Bank Of Canada increased their price objective on PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $127.09.

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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