Chicago Capital LLC Has $643,000 Position in PPG Industries, Inc. $PPG

Chicago Capital LLC grew its stake in PPG Industries, Inc. (NYSE:PPG) by 37.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,653 shares of the specialty chemicals company’s stock after purchasing an additional 1,527 shares during the quarter. Chicago Capital LLC’s holdings in PPG Industries were worth $643,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PPG. Cheviot Value Management LLC acquired a new position in shares of PPG Industries in the 1st quarter valued at $26,000. CVA Family Office LLC lifted its stake in PPG Industries by 70.6% in the first quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company’s stock valued at $30,000 after buying an additional 113 shares during the period. Headlands Technologies LLC acquired a new stake in shares of PPG Industries in the 1st quarter valued at approximately $30,000. Financial Connections Group Inc. raised its position in shares of PPG Industries by 74.6% in the 1st quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company’s stock valued at $38,000 after acquiring an additional 150 shares during the period. Finally, Bell Investment Advisors Inc raised its position in shares of PPG Industries by 40.9% in the 1st quarter. Bell Investment Advisors Inc now owns 355 shares of the specialty chemicals company’s stock valued at $39,000 after acquiring an additional 103 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Up 1.1%

Shares of PPG Industries stock opened at $105.14 on Wednesday. The business’s 50 day simple moving average is $109.53 and its 200 day simple moving average is $109.62. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $133.44. The firm has a market cap of $23.73 billion, a PE ratio of 23.84, a P/E/G ratio of 2.16 and a beta of 1.14. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.22. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same period last year, the company earned $2.50 earnings per share. The firm’s revenue was down .9% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Monday, August 11th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, August 11th. This is an increase from PPG Industries’s previous quarterly dividend of $0.68. PPG Industries’s dividend payout ratio (DPR) is presently 64.40%.

Analysts Set New Price Targets

PPG has been the topic of several analyst reports. Citigroup increased their target price on shares of PPG Industries from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, June 13th. Royal Bank Of Canada raised their price objective on PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a research note on Friday, August 1st. Wells Fargo & Company raised their price objective on PPG Industries from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Mizuho raised 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. Finally, UBS Group raised 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. One equities research 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $129.82.

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.