IFP Advisors Inc lifted its holdings in shares of PPG Industries, Inc. (NYSE:PPG – Free Report) by 316.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,444 shares of the specialty chemicals company’s stock after buying an additional 1,857 shares during the period. IFP Advisors Inc’s holdings in PPG Industries were worth $278,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in PPG Industries by 58.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company’s stock valued at $524,627,000 after purchasing an additional 1,766,518 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of PPG Industries during the 1st quarter worth about $127,152,000. Pzena Investment Management LLC purchased a new position in PPG Industries in the 1st quarter valued at about $105,349,000. Nuveen LLC purchased a new position in PPG Industries in the 1st quarter valued at about $79,881,000. Finally, Wellington Management Group LLP boosted its holdings in PPG Industries by 5.6% in the 1st quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company’s stock worth $1,220,259,000 after buying an additional 592,152 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on PPG shares. 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 report on Friday, August 1st. UBS Group reduced their price objective on PPG Industries from $125.00 to $115.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Bank of America lowered their target price on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a research note on Tuesday. Citigroup reduced their target price on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, October 6th. Finally, Mizuho lowered their price target on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, PPG Industries currently has an average rating of “Moderate Buy” and an average target price of $127.73.
PPG Industries Stock Up 1.4%
NYSE PPG opened at $100.95 on Friday. The business’s fifty day simple moving average is $107.60 and its 200-day simple moving average is $108.81. 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 market cap of $22.78 billion, a PE ratio of 22.89, a P/E/G ratio of 2.09 and a beta of 1.16. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $132.18.
PPG Industries (NYSE:PPG – Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, hitting 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 analysts’ expectations of $4.16 billion. During the same period last year, the business earned $2.50 earnings per share. PPG Industries’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. As a group, equities analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.
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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