Elevation Point Wealth Partners LLC Takes $2.96 Million Position in PPG Industries, Inc. $PPG

Key Points

• Elevation Point Wealth Partners disclosed a new position in PPG Industries during the first quarter, buying 27,695 shares worth about $2.96 million.
• PPG Industries reported better-than-expected quarterly earnings of $1.83 per share on revenue of $3.93 billion, with sales up 6.7% year over year.
• The company also paid a quarterly dividend of $0.71 per share, and analysts currently have a consensus Hold rating with a $124.40 price target.

Elevation Point Wealth Partners LLC bought a new position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 27,695 shares of the specialty chemicals company's stock, valued at approximately $2,960,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Pzena Investment Management LLC increased its stake in shares of PPG Industries by 306.2% during the 4th quarter. Pzena Investment Management LLC now owns 7,098,767 shares of the specialty chemicals company's stock valued at $727,340,000 after acquiring an additional 5,351,103 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of PPG Industries by 19.9% in the third quarter. Wellington Management Group LLP now owns 15,159,770 shares of the specialty chemicals company's stock worth $1,593,443,000 after acquiring an additional 2,521,004 shares during the last quarter. Franklin Resources Inc. grew its holdings in PPG Industries by 48.9% in the fourth quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company's stock valued at $716,256,000 after purchasing an additional 2,295,118 shares during the period. Norges Bank purchased a new stake in PPG Industries in the fourth quarter valued at approximately $209,355,000. Finally, Bank of Montreal Can increased its position in PPG Industries by 254.9% during the fourth quarter. Bank of Montreal Can now owns 1,334,707 shares of the specialty chemicals company's stock worth $136,754,000 after purchasing an additional 958,580 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Down 0.0%

PPG Industries stock opened at $125.30 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.17 and a current ratio of 1.61. PPG Industries, Inc. has a one year low of $93.39 and a one year high of $133.43. The company has a 50-day simple moving average of $113.12 and a 200-day simple moving average of $111.91. The firm has a market capitalization of $27.93 billion, a P/E ratio of 17.87, a P/E/G ratio of 1.83 and a beta of 1.05.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.05. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The firm had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same period last year, the firm posted $1.72 EPS. PPG Industries's quarterly revenue was up 6.7% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, equities analysts expect that PPG Industries, Inc. will post 7.93 earnings per share for the current year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, May 11th were given a dividend of $0.71 per share. The ex-dividend date was Monday, May 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.3%. PPG Industries's payout ratio is currently 40.51%.

Analyst Ratings Changes

A number of research firms have weighed in on PPG. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $119.00 price target on shares of PPG Industries in a research note on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft upped their price objective on PPG Industries from $120.00 to $130.00 in a report on Friday, March 27th. Jefferies Financial Group cut their target price on PPG Industries from $125.00 to $116.00 and set a "hold" rating on the stock in a research report on Thursday, March 26th. Weiss Ratings upgraded PPG Industries from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, June 17th. Finally, Citigroup boosted their price target on PPG Industries from $114.00 to $125.00 and gave the company a "neutral" rating in a research report on Wednesday, June 24th. Six investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $124.40.

PPG Industries Profile

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.

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