PPG Industries, Inc. $PPG Stake Lifted by Stance Capital LLC

Key Points

• Stance Capital LLC significantly increased its stake in PPG Industries by 2,375.3%, owning 35,421 shares worth approximately $3.87 million as of the first quarter.
• Multiple analysts upgraded their price targets for PPG Industries, with Citigroup and Wells Fargo raising their targets to $130.00 and $135.00 respectively, indicating a positive outlook on the stock.
• PPG Industries announced a quarterly dividend increase from $0.68 to $0.71 per share, resulting in an annual yield of 2.6%.

Stance Capital LLC lifted its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 2,375.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 35,421 shares of the specialty chemicals company's stock after purchasing an additional 33,990 shares during the quarter. PPG Industries comprises approximately 2.8% of Stance Capital LLC's holdings, making the stock its 14th largest holding. Stance Capital LLC's holdings in PPG Industries were worth $3,873,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PPG. Park Square Financial Group LLC purchased a new stake in shares of PPG Industries during the 4th quarter worth about $26,000. Cheviot Value Management LLC purchased a new stake in shares of PPG Industries during the 1st quarter worth about $26,000. CVA Family Office LLC grew its holdings in shares of PPG Industries by 70.6% during the 1st quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company's stock worth $30,000 after purchasing an additional 113 shares during the period. Headlands Technologies LLC purchased a new stake in shares of PPG Industries during the 1st quarter worth about $30,000. Finally, Financial Connections Group Inc. boosted its holdings in PPG Industries by 74.6% in the 1st quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company's stock worth $38,000 after acquiring an additional 150 shares during the period. Hedge funds and other institutional investors own 81.86% of the company's stock.

PPG Industries Stock Performance

PPG traded down $0.52 during trading hours on Wednesday, hitting $108.87. 1,423,545 shares of the stock were exchanged, compared to its average volume of 2,028,247. The stock has a market cap of $24.57 billion, a price-to-earnings ratio of 24.69, a price-to-earnings-growth ratio of 2.30 and a beta of 1.14. The stock has a 50-day simple moving average of $112.26 and a 200-day simple moving average of $110.22. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.04. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) last released its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, meeting 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 analyst estimates of $4.16 billion. During the same quarter in the previous year, the firm earned $2.50 earnings per share. The firm's revenue for the quarter was down .9% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, August 11th will be paid a $0.71 dividend. The ex-dividend date is Monday, August 11th. This is an increase from PPG Industries's previous quarterly dividend of $0.68. This represents a $2.84 dividend on an annualized basis and a yield of 2.6%. PPG Industries's payout ratio is presently 64.40%.

Wall Street Analyst Weigh In

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

About PPG Industries

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.