United Capital Financial Advisors LLC Invests $1.08 Million in PPG Industries, Inc. $PPG

Key Points

• United Capital Financial Advisors acquired 8,938 shares of PPG Industries worth approximately $1.08 million during the second quarter. Institutional investors collectively own 81.86% of the company.
• Analyst sentiment remains mixed, with seven Buy ratings and ten Hold ratings; the consensus rating is Hold with an average price target of $126, compared with a recent share price of $114.06.
• PPG reported quarterly revenue of $4.50 billion, up 7.2% year over year, but slightly missed EPS expectations. The company raised its quarterly dividend from $0.71 to $0.74 per share, implying a 2.6% annual yield.

United Capital Financial Advisors LLC purchased a new stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,938 shares of the specialty chemicals company's stock, valued at approximately $1,084,000.

Other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in PPG Industries in the 2nd quarter valued at $2,856,392,000. Pzena Investment Management LLC bought a new stake in shares of PPG Industries during the second quarter worth $946,964,000. Bank of New York Mellon Corp acquired a new position in shares of PPG Industries during the second quarter valued at $318,870,000. Bank of America Corp DE bought a new position in PPG Industries in the second quarter valued at about $278,965,000. Finally, Franklin Resources Inc. increased its position in 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 worth $716,256,000 after purchasing an additional 2,295,118 shares during the period. Institutional investors own 81.86% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Weiss Ratings raised PPG Industries from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, June 17th. Mizuho lifted their price target on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. UBS Group dropped their price target on shares of PPG Industries from $130.00 to $125.00 and set a "neutral" rating for the company in a research note on Thursday, July 30th. Wall Street Zen lowered shares of PPG Industries from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Finally, BMO Capital Markets reduced their price objective on shares of PPG Industries from $140.00 to $138.00 and set an "outperform" rating on the stock in a research note on Monday, July 6th. Seven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $126.00.

PPG Industries Trading Up 0.5%

NYSE PPG opened at $114.06 on Friday. PPG Industries, Inc. has a 12 month low of $93.39 and a 12 month high of $133.43. The stock has a 50-day simple moving average of $116.77 and a 200 day simple moving average of $113.70. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $25.36 billion, a PE ratio of 16.34, a P/E/G ratio of 1.66 and a beta of 1.07.

PPG Industries (NYSE:PPG - Get Free Report) last posted its earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.02). The company had revenue of $4.50 billion for 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%.PPG Industries's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.22 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Research analysts forecast that PPG Industries, Inc. will post 7.88 EPS for the current year.

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 10th will be issued a dividend of $0.74 per share. This is an increase from PPG Industries's previous quarterly dividend of $0.71. This represents a $2.96 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, August 10th. PPG Industries's dividend payout ratio is presently 42.41%.

PPG Industries Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source