Pallas Capital Advisors LLC Makes New Investment in PPG Industries, Inc. $PPG

Key Points

• Pallas Capital Advisors LLC purchased 3,797 shares of PPG Industries, Inc., valued at approximately $432,000, during the second quarter.
• PPG Industries has recently announced an increase in its quarterly dividend to $0.71, yielding 2.6% annually and representing a positive change from the previous dividend of $0.68.
• Analysts have raised their price targets for PPG Industries with a consensus target of $129.82, indicating a general bullish outlook on the stock.

Pallas Capital Advisors LLC purchased a new stake in PPG Industries, Inc. (NYSE:PPG - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,797 shares of the specialty chemicals company's stock, valued at approximately $432,000.

Other hedge funds also recently bought and sold shares of the company. Aaron Wealth Advisors LLC purchased a new stake in shares of PPG Industries in the 2nd quarter valued at approximately $229,000. Divergent Planning LLC purchased a new stake in shares of PPG Industries in the 2nd quarter valued at approximately $680,000. Czech National Bank increased its position in shares of PPG Industries by 4.1% in the 2nd quarter. Czech National Bank now owns 55,486 shares of the specialty chemicals company's stock valued at $6,312,000 after purchasing an additional 2,200 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of PPG Industries by 21.2% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 14,990 shares of the specialty chemicals company's stock valued at $1,705,000 after purchasing an additional 2,627 shares during the last quarter. Finally, Kera Capital Partners Inc. purchased a new stake in shares of PPG Industries in the 2nd quarter valued at approximately $219,000. Institutional investors and hedge funds own 81.86% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Mizuho increased their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Royal Bank Of Canada upped their target price on shares of PPG Industries from $115.00 to $117.00 and gave the company a "sector perform" rating in a report on Friday, August 1st. UBS Group upped their target price on shares of PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Finally, Citigroup upped their target price on shares of PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a report on Friday, June 13th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, PPG Industries presently has an average rating of "Moderate Buy" and an average target price of $129.82.

PPG Industries Price Performance

PPG traded down $3.03 during midday trading on Tuesday, reaching $106.46. 763,754 shares of the company's stock were exchanged, compared to its average volume of 2,012,547. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.04. The stock has a market capitalization of $24.03 billion, a PE ratio of 24.12, a P/E/G ratio of 2.26 and a beta of 1.14. The business's 50-day moving average price is $110.78 and its 200 day moving average price is $109.94. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $137.24.

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

PPG Industries Increases Dividend

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