Kestra Private Wealth Services LLC Raises Position in PPG Industries, Inc. $PPG

Key Points

• Kestra Private Wealth Services increased its PPG Industries stake by 65.6% in the first quarter, buying 8,253 more shares and bringing its total to 20,826 shares valued at about $2.23 million.
• Institutional ownership remains high, with hedge funds and other investors holding 81.86% of PPG’s stock. Several large firms also added to or initiated positions in the company during recent quarters.
• PPG topped quarterly expectations, reporting $1.83 EPS and $3.93 billion in revenue, both above estimates, while the company also pays a quarterly dividend of $0.71 per share, yielding about 2.3% annually.

Kestra Private Wealth Services LLC grew its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 65.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,826 shares of the specialty chemicals company's stock after purchasing an additional 8,253 shares during the quarter. Kestra Private Wealth Services LLC's holdings in PPG Industries were worth $2,226,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Nvest Wealth Strategies Inc. purchased a new stake in shares of PPG Industries in the fourth quarter valued at about $505,000. First Eagle Investment Management LLC boosted its holdings in PPG Industries by 12.7% during the third quarter. First Eagle Investment Management LLC now owns 6,263,829 shares of the specialty chemicals company's stock worth $658,391,000 after purchasing an additional 703,549 shares during the last quarter. Cooke & Bieler LP boosted its holdings in PPG Industries by 16.7% during the fourth quarter. Cooke & Bieler LP now owns 1,616,672 shares of the specialty chemicals company's stock worth $165,644,000 after purchasing an additional 231,537 shares during the last quarter. Dimensional Fund Advisors LP grew its position in PPG Industries by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,020,138 shares of the specialty chemicals company's stock worth $317,421,000 after purchasing an additional 43,702 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in PPG Industries by 19.9% in the 3rd quarter. Wellington Management Group LLP now owns 15,159,770 shares of the specialty chemicals company's stock valued at $1,593,443,000 after buying an additional 2,521,004 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their target price on PPG Industries from $126.00 to $125.00 in a research note on Thursday, April 30th. Wells Fargo & Company decreased their price target on PPG Industries from $135.00 to $130.00 and set an "overweight" rating for the company in a research report on Friday, April 10th. BNP Paribas Exane lifted their price target on PPG Industries from $115.00 to $116.00 in a report on Thursday, April 30th. Mizuho boosted their price objective on PPG Industries from $115.00 to $125.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Finally, Royal Bank Of Canada restated a "sector perform" rating and issued a $119.00 price objective on shares of PPG Industries in a research note on Wednesday, June 10th. Six equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $123.73.

PPG Industries Trading Down 0.0%

Shares of PPG stock opened at $123.23 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 0.78. The firm has a market cap of $27.47 billion, a P/E ratio of 17.58, a PEG ratio of 1.80 and a beta of 1.06. The company has a 50 day moving average of $112.11 and a 200-day moving average of $111.22. PPG Industries, Inc. has a 12-month low of $93.39 and a 12-month high of $133.43.

PPG Industries (NYSE:PPG - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The specialty chemicals company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.78 by $0.05. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.The business had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter in the prior year, the business earned $1.72 earnings per share. PPG Industries's revenue for the quarter was up 6.7% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Sell-side analysts anticipate that PPG Industries, Inc. will post 7.92 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently declared 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. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, May 11th. PPG Industries's dividend payout ratio is currently 40.51%.

About PPG Industries

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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