Hixon Zuercher LLC Acquires 262 Shares of PPG Industries, Inc. $PPG

Hixon Zuercher LLC lifted its stake in PPG Industries, Inc. (NYSE:PPG) by 1.3% during the 2nd quarter, Holdings Channel reports. The firm owned 19,798 shares of the specialty chemicals company’s stock after acquiring an additional 262 shares during the period. Hixon Zuercher LLC’s holdings in PPG Industries were worth $2,252,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Capital Advisors Ltd. LLC boosted its holdings in PPG Industries by 127.6% during the second quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 125 shares during the last quarter. Cheviot Value Management LLC acquired a new stake in shares of PPG Industries in the 1st quarter valued at approximately $26,000. Gladwyn Financial Advisors Inc. acquired a new stake in shares of PPG Industries in the 2nd quarter valued at approximately $31,000. Headlands Technologies LLC bought a new position in PPG Industries during the 1st quarter worth approximately $30,000. Finally, Financial Connections Group Inc. grew its holdings in PPG Industries by 74.6% during the first quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company’s stock valued at $38,000 after purchasing an additional 150 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Down 0.1%

Shares of PPG Industries stock opened at $103.43 on Friday. The firm has a market cap of $23.34 billion, a PE ratio of 23.45, a P/E/G ratio of 2.18 and a beta of 1.16. The business’s 50 day simple moving average is $106.77 and its 200 day simple moving average is $108.98. 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, Inc. has a 52-week low of $90.24 and a 52-week high of $130.05.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.22. The firm had revenue of $4.20 billion during the quarter, compared to the consensus estimate 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 was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.50 EPS. 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 Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PPG shares. Citigroup reduced their price target on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a research report on Monday, October 6th. Mizuho dropped their price objective on PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Wells Fargo & Company reduced their target price on PPG Industries from $135.00 to $132.00 and set an “overweight” rating on the stock in a report on Friday, October 10th. UBS Group decreased their target price 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. Finally, JPMorgan Chase & Co. raised PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 price target on the stock in a research report on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $125.00.

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.