EverSource Wealth Advisors LLC Has $679,000 Stock Position in PPG Industries, Inc. $PPG

Key Points

• EverSource Wealth Advisors LLC has reduced its stake in PPG Industries by 83.6%, selling 31,617 shares and retaining just 6,213 shares worth approximately $679,000.
• PPG Industries has announced an increase in its quarterly dividend from $0.68 to $0.71 per share, marking a 2.5% annual yield for investors.
• Analysts have varied views on PPG Industries, with price targets ranging from $105 to $135, indicating a Moderate Buy rating on average.

EverSource Wealth Advisors LLC decreased its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 83.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,213 shares of the specialty chemicals company's stock after selling 31,617 shares during the quarter. EverSource Wealth Advisors LLC's holdings in PPG Industries were worth $679,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Park Square Financial Group LLC bought a new stake in shares of PPG Industries in the 4th quarter worth approximately $26,000. Cheviot Value Management LLC bought a new stake in shares of PPG Industries in the 1st quarter worth approximately $26,000. Headlands Technologies LLC bought a new stake in shares of PPG Industries in the 1st quarter worth approximately $30,000. CVA Family Office LLC lifted its position in shares of PPG Industries by 70.6% in the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock worth $30,000 after acquiring an additional 113 shares during the period. Finally, Financial Connections Group Inc. lifted its position in shares of PPG Industries by 74.6% in the 1st quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company's stock worth $38,000 after acquiring an additional 150 shares during the period. Institutional investors own 81.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on PPG shares. Wells Fargo & Company raised their price objective on PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Citigroup raised their price objective on PPG Industries from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, June 13th. JPMorgan Chase & Co. reduced their price objective on PPG Industries from $115.00 to $105.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Mizuho increased their target price on PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Finally, UBS Group increased their target price on PPG Industries from $111.00 to $125.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $129.82.

PPG Industries Price Performance

PPG stock traded down $0.6030 during midday trading on Thursday, reaching $111.4570. 1,213,706 shares of the company's stock traded hands, compared to its average volume of 2,060,848. The company has a 50-day simple moving average of $112.32 and a two-hundred day simple moving average of $110.69. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $137.24. The company has a market cap of $25.16 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 2.33 and a beta of 1.17. 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 (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 for the quarter, meeting analysts' consensus estimates of $2.22. The firm had revenue of $4.20 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period last year, the firm posted $2.50 EPS. 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 year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Monday, August 11th will be paid a $0.71 dividend. This is an increase from PPG Industries's previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Monday, August 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.5%. PPG Industries's payout ratio is 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.