PPG Industries, Inc. $PPG Shares Acquired by Avior Wealth Management LLC

Key Points

• Avior Wealth Management LLC dramatically increased its holdings in PPG Industries by 8,828.7%, owning 8,393 shares valued at approximately $955,000 as of the end of the second quarter.
• Analysts have raised their price targets for PPG Industries, with UBS Group setting a new target of $125 and Mizuho increasing it to $135, while the consensus price target is $129.82.
• PPG Industries recently declared a quarterly dividend increase to $0.71 per share, representing a 2.7% dividend yield, up from the previous $0.68 dividend.

Avior Wealth Management LLC lifted its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 8,828.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,393 shares of the specialty chemicals company's stock after acquiring an additional 8,299 shares during the period. Avior Wealth Management LLC's holdings in PPG Industries were worth $955,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Envestnet Asset Management Inc. increased its position in PPG Industries by 0.7% during the first quarter. Envestnet Asset Management Inc. now owns 249,755 shares of the specialty chemicals company's stock worth $27,311,000 after buying an additional 1,697 shares during the period. Clear Creek Financial Management LLC acquired a new position in PPG Industries during the first quarter worth approximately $240,000. Principal Financial Group Inc. increased its position in PPG Industries by 4.4% during the first quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company's stock worth $33,129,000 after buying an additional 12,650 shares during the period. Meridian Wealth Management LLC increased its position in PPG Industries by 311.2% during the first quarter. Meridian Wealth Management LLC now owns 7,665 shares of the specialty chemicals company's stock worth $838,000 after buying an additional 5,801 shares during the period. Finally, Golden State Wealth Management LLC increased its position in PPG Industries by 966.3% during the first quarter. Golden State Wealth Management LLC now owns 885 shares of the specialty chemicals company's stock worth $97,000 after buying an additional 802 shares during the period. Institutional investors and hedge funds own 81.86% of the company's stock.

Analysts Set New Price Targets

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

PPG Industries Price Performance

PPG Industries stock opened at $103.94 on Tuesday. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $134.92. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42. The business has a fifty day moving average of $109.73 and a two-hundred day moving average of $109.65. The company has a market cap of $23.46 billion, a P/E ratio of 23.57, a price-to-earnings-growth ratio of 2.15 and a beta of 1.14.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS 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 during the quarter, compared to the consensus estimate of $4.16 billion. PPG Industries's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the company earned $2.50 earnings per share. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. As a group, analysts predict that PPG Industries, Inc. will post 7.95 earnings per share 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 paid a dividend of $0.71 per share. This is a boost from PPG Industries's previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Monday, August 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.7%. PPG Industries's dividend 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.