Klingman & Associates LLC Boosts Stock Position in PPG Industries, Inc. $PPG

Klingman & Associates LLC boosted its stake in PPG Industries, Inc. (NYSE:PPG) by 10.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,553 shares of the specialty chemicals company’s stock after buying an additional 350 shares during the quarter. Klingman & Associates LLC’s holdings in PPG Industries were worth $404,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Berkeley Capital Partners LLC purchased a new stake in PPG Industries in the second quarter worth about $1,186,000. Chicago Partners Investment Group LLC increased its stake in shares of PPG Industries by 16.2% during the second quarter. Chicago Partners Investment Group LLC now owns 2,343 shares of the specialty chemicals company’s stock valued at $273,000 after purchasing an additional 326 shares in the last quarter. Gladwyn Financial Advisors Inc. bought a new position in shares of PPG Industries during the second quarter valued at approximately $31,000. VELA Investment Management LLC bought a new position in shares of PPG Industries during the second quarter valued at approximately $518,000. Finally, Applied Finance Capital Management LLC increased its stake in shares of PPG Industries by 2.1% during the second quarter. Applied Finance Capital Management LLC now owns 5,821 shares of the specialty chemicals company’s stock valued at $662,000 after purchasing an additional 121 shares in the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Price Performance

Shares of PPG opened at $104.49 on Wednesday. The company has a market capitalization of $23.58 billion, a P/E ratio of 23.69, a price-to-earnings-growth ratio of 2.15 and a beta of 1.16. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76. The firm has a 50 day moving average of $107.32 and a 200 day moving average of $108.78. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $130.05.

PPG Industries (NYSE:PPG) last announced its quarterly 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. The company had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.16 billion. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.50 earnings per share. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. As a group, equities research analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Monday, November 10th will be issued a $0.71 dividend. The ex-dividend date is Monday, November 10th. This represents a $2.84 annualized dividend and a yield of 2.7%. PPG Industries’s dividend payout ratio (DPR) is currently 64.40%.

Analysts Set New Price Targets

PPG has been the subject of a number of analyst reports. Bank of America decreased their target price on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Royal Bank Of Canada raised their target price on shares of 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 decreased their target price on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Wells Fargo & Company decreased their target price on shares of PPG Industries from $135.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday, October 10th. Finally, JPMorgan Chase & Co. raised shares of PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 target price for the company in a research note on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $125.00.

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.