Wealth Enhancement Advisory Services LLC Buys 4,874 Shares of PPG Industries, Inc. $PPG

Key Points

• Wealth Enhancement Advisory Services LLC increased its holdings in PPG Industries by 4,874 shares, raising their total ownership to 65,402 shares, valued at approximately $7.74 million.
• Analysts have adjusted their price targets for PPG Industries, with Royal Bank of Canada raising it from $115.00 to $117.00 and Mizuho from $125.00 to $135.00, indicating a positive outlook for the company's stock.
• PPG Industries announced a quarterly dividend increase to $0.71 per share, reflecting an annualized dividend of $2.84 and a yield of 2.7%.

Wealth Enhancement Advisory Services LLC boosted its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 8.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 65,402 shares of the specialty chemicals company's stock after buying an additional 4,874 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in PPG Industries were worth $7,736,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of PPG Industries by 9.1% during the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company's stock valued at $487,000 after buying an additional 339 shares during the period. Vident Advisory LLC grew its holdings in PPG Industries by 6.8% in the fourth quarter. Vident Advisory LLC now owns 4,495 shares of the specialty chemicals company's stock worth $537,000 after purchasing an additional 285 shares during the period. Toronto Dominion Bank increased its stake in shares of PPG Industries by 6.0% during the fourth quarter. Toronto Dominion Bank now owns 142,096 shares of the specialty chemicals company's stock valued at $16,972,000 after purchasing an additional 8,068 shares in the last quarter. Forum Financial Management LP lifted its holdings in shares of PPG Industries by 35.9% during the fourth quarter. Forum Financial Management LP now owns 2,237 shares of the specialty chemicals company's stock valued at $267,000 after purchasing an additional 591 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in shares of PPG Industries in the 4th quarter worth approximately $568,000. Institutional investors own 81.86% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on PPG. Royal Bank Of Canada increased 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. Mizuho boosted 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. Citigroup boosted their price objective on PPG Industries from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, June 13th. UBS Group upped 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, Wells Fargo & Company upped their target price on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. One investment 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $129.82.

PPG Industries Trading Down 3.1%

NYSE PPG opened at $106.11 on Wednesday. The stock has a market cap of $23.95 billion, a PE ratio of 24.06, a PEG ratio of 2.26 and a beta of 1.14. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $137.24. The company's 50-day moving average price is $110.61 and its 200-day moving average price is $109.91. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76.

PPG Industries (NYSE:PPG - Get Free Report) last issued its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, hitting the consensus estimate of $2.22. The business had revenue of $4.20 billion during the quarter, compared to analysts' expectations of $4.16 billion. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.The business's revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.50 EPS. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Equities research analysts forecast 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 was paid on Friday, September 12th. Shareholders of record on Monday, August 11th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $2.84 annualized dividend and a yield of 2.7%. This is a boost from PPG Industries's previous quarterly dividend of $0.68. PPG Industries's payout ratio is presently 64.40%.

PPG Industries 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.

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