Greenleaf Trust Has $326,000 Stake in PPG Industries, Inc. $PPG

Key Points

• Greenleaf Trust reduced its holdings in PPG Industries by 61.5% during Q2, leaving it with a stake valued at $326,000.
• PPG Industries recently raised its quarterly dividend from $0.68 to $0.71, representing a 2.7% yield and a payout ratio of 64.40%.
• The company reported earnings of $2.22 per share for Q2, matching analyst expectations despite a year-over-year revenue decline of 0.9%.

Greenleaf Trust cut its holdings in PPG Industries, Inc. (NYSE:PPG - Free Report) by 61.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,869 shares of the specialty chemicals company's stock after selling 4,579 shares during the period. Greenleaf Trust's holdings in PPG Industries were worth $326,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Cheviot Value Management LLC acquired a new stake in PPG Industries during the first quarter worth about $26,000. CVA Family Office LLC grew its position in 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 in the last quarter. Headlands Technologies LLC acquired a new stake in PPG Industries during the first quarter worth about $30,000. Financial Connections Group Inc. grew its position in 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 in the last quarter. Finally, Bell Investment Advisors Inc grew its position in PPG Industries by 40.9% during the first quarter. Bell Investment Advisors Inc now owns 355 shares of the specialty chemicals company's stock worth $39,000 after buying an additional 103 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Performance

NYSE:PPG opened at $104.36 on Friday. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $132.18. The firm has a 50 day moving average of $108.83 and a 200-day moving average of $109.45. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $23.55 billion, a P/E ratio of 23.66, a price-to-earnings-growth ratio of 2.17 and a beta of 1.16.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, hitting the consensus estimate of $2.22. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The firm had revenue of $4.20 billion during the quarter, compared to analysts' expectations of $4.16 billion. During the same quarter in the previous year, the company posted $2.50 EPS. PPG Industries'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. As a group, sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PPG. Mizuho decreased their target price on PPG Industries from $135.00 to $125.00 and set an "outperform" rating on the stock in a research report on Friday. Royal Bank Of Canada lifted their target price on PPG Industries from $115.00 to $117.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. UBS Group lifted their price objective on PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of PPG Industries in a report on Saturday, September 27th. Finally, Wells Fargo & Company lifted their price objective on PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have given 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 $128.91.

PPG Industries 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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