Exchange Traded Concepts LLC Acquires 15,516 Shares of PPG Industries, Inc. $PPG

Key Points

• Exchange Traded Concepts LLC increased its holdings in PPG Industries by 133.4% in Q2, now owning 27,143 shares valued at approximately $3.09 million.
• PPG Industries reported Q2 earnings of $2.22 per share and revenue of $4.20 billion, slightly exceeding analysts' expectations.
• The company announced a quarterly dividend increase to $0.71, up from the previous $0.68, reflecting a dividend yield of 2.6%.

Exchange Traded Concepts LLC increased its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 133.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,143 shares of the specialty chemicals company's stock after buying an additional 15,516 shares during the quarter. Exchange Traded Concepts LLC's holdings in PPG Industries were worth $3,088,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Park Square Financial Group LLC bought a new position in shares of PPG Industries during the 4th quarter worth approximately $26,000. Cheviot Value Management LLC bought a new position in shares of PPG Industries during the 1st quarter worth approximately $26,000. CVA Family Office LLC grew its stake in PPG Industries by 70.6% in the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock valued at $30,000 after purchasing an additional 113 shares during the period. Headlands Technologies LLC bought a new position in PPG Industries in the 1st quarter valued at $30,000. Finally, Financial Connections Group Inc. grew its stake 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 purchasing an additional 150 shares during the period. Institutional investors own 81.86% of the company's stock.

Wall Street Analyst Weigh In

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

PPG Industries Price Performance

Shares of NYSE PPG traded down $3.38 during trading hours on Tuesday, reaching $106.11. 848,122 shares of the stock traded hands, compared to its average volume of 2,013,249. The company has a market capitalization of $23.95 billion, a P/E ratio of 24.11, a price-to-earnings-growth ratio of 2.26 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 52-week low of $90.24 and a 52-week high of $137.24. The company's 50-day simple moving average is $110.78 and its two-hundred day simple moving average is $109.94.

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

PPG Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Monday, August 11th were given a $0.71 dividend. The ex-dividend date was Monday, August 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.7%. This is an increase from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's dividend payout ratio is 64.40%.

About PPG Industries

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.