D.A. Davidson & CO. Has $6.21 Million Holdings in PPG Industries, Inc. $PPG

D.A. Davidson & CO. cut its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 14.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,605 shares of the specialty chemicals company’s stock after selling 9,036 shares during the period. D.A. Davidson & CO.’s holdings in PPG Industries were worth $6,211,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its position in PPG Industries by 0.7% during the first quarter. Envestnet Asset Management Inc. now owns 249,755 shares of the specialty chemicals company’s stock worth $27,311,000 after acquiring an additional 1,697 shares during the last quarter. Clear Creek Financial Management LLC acquired a new stake in PPG Industries during the first quarter worth approximately $240,000. Principal Financial Group Inc. lifted its position in PPG Industries by 4.4% during the first quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company’s stock worth $33,129,000 after acquiring an additional 12,650 shares during the last quarter. Meridian Wealth Management LLC lifted its position in PPG Industries by 311.2% during the first quarter. Meridian Wealth Management LLC now owns 7,665 shares of the specialty chemicals company’s stock worth $838,000 after acquiring an additional 5,801 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its position in PPG Industries by 966.3% during the first quarter. Golden State Wealth Management LLC now owns 885 shares of the specialty chemicals company’s stock worth $97,000 after acquiring an additional 802 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PPG. JPMorgan Chase & Co. upgraded shares of PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 price target for the company in a research report on Thursday, October 16th. Bank of America dropped their price target on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Citigroup dropped their price target 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. UBS Group dropped their price target on shares of PPG Industries from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Finally, Royal Bank Of Canada lifted their price target on shares of PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a research report on Friday, August 1st. 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $125.00.

PPG Industries Stock Up 1.3%

Shares of PPG opened at $103.50 on Friday. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $130.05. The company has a market cap of $23.36 billion, a P/E ratio of 23.47, a P/E/G ratio of 2.15 and a beta of 1.16. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.42 and a quick ratio of 1.04. The firm has a 50 day simple moving average of $106.94 and a two-hundred day simple moving average of $108.78.

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

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Monday, November 10th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.7%. The ex-dividend date is Monday, November 10th. PPG Industries’s payout ratio is currently 64.40%.

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.