HighTower Advisors LLC Trims Position in PPG Industries, Inc. $PPG

HighTower Advisors LLC trimmed its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 27.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 96,969 shares of the specialty chemicals company's stock after selling 36,456 shares during the period. HighTower Advisors LLC's holdings in PPG Industries were worth $11,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the stock. California State Teachers Retirement System increased its holdings in PPG Industries by 12,647.0% during the 2nd quarter. California State Teachers Retirement System now owns 60,284,284 shares of the specialty chemicals company's stock worth $7,311,881,000 after purchasing an additional 59,811,353 shares during the period. BlackRock Inc. bought a new position in shares of PPG Industries during the 2nd quarter worth $2,856,392,000. State Street Corp increased its stake in shares of PPG Industries by 4.6% during the fourth quarter. State Street Corp now owns 12,829,677 shares of the specialty chemicals company's stock valued at $1,314,529,000 after buying an additional 565,523 shares during the period. Pzena Investment Management LLC purchased a new position in shares of PPG Industries during the second quarter valued at $946,964,000. Finally, Franklin Resources Inc. raised its holdings in shares of 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 acquiring an additional 2,295,118 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Price Performance

Shares of NYSE PPG opened at $107.29 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.58. The company has a market cap of $23.85 billion, a PE ratio of 15.37, a P/E/G ratio of 1.78 and a beta of 1.07. The business has a 50-day simple moving average of $115.13 and a two-hundred day simple moving average of $112.55. PPG Industries, Inc. has a fifty-two week low of $93.39 and a fifty-two week high of $133.43.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 EPS for the quarter, missing analysts' consensus estimates of $2.25 by ($0.02). The company had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.37 billion. PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.The firm's revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the business earned $2.22 earnings per share. 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 7.89 EPS for the current fiscal year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 10th will be paid a $0.74 dividend. This is a positive change from PPG Industries's previous quarterly dividend of $0.71. The ex-dividend date is Monday, August 10th. This represents a $2.96 dividend on an annualized basis and a yield of 2.8%. PPG Industries's dividend payout ratio (DPR) is 42.41%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Mizuho increased their target price on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Wednesday, July 1st. Wall Street Zen cut shares of PPG Industries from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Weiss Ratings upgraded shares of PPG Industries from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, June 17th. Royal Bank Of Canada cut their price objective on shares of PPG Industries from $129.00 to $122.00 and set a "sector perform" rating on the stock in a report on Thursday, July 30th. Finally, UBS Group lowered their target price on PPG Industries from $130.00 to $125.00 and set a "neutral" rating for the company in a report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, PPG Industries has an average rating of "Hold" and a consensus target price of $126.00.

PPG Industries Company Profile

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. The company supplies protective and decorative coatings used in automotive, aerospace, industrial, marine, packaging and consumer applications. Its products are designed to protect surfaces, improve appearance and provide specialized performance characteristics such as corrosion resistance and durability.

PPG's portfolio includes automotive refinish coatings, original-equipment automotive coatings, aerospace coatings, industrial and protective coatings, packaging coatings, and architectural paints and coatings.

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