Fifth Third Wealth Advisors LLC Has $705,000 Position in PPG Industries, Inc. $PPG

Fifth Third Wealth Advisors LLC boosted its position in PPG Industries, Inc. (NYSE:PPG) by 55.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,202 shares of the specialty chemicals company’s stock after purchasing an additional 2,225 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in PPG Industries were worth $705,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Advisors Ltd. LLC increased its holdings in PPG Industries by 127.6% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 125 shares in the last quarter. Cheviot Value Management LLC acquired a new stake in shares of PPG Industries in the first quarter valued at about $26,000. CVA Family Office LLC increased its stake in shares of 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 first quarter valued at about $30,000. Finally, Financial Connections Group Inc. increased its stake in shares of PPG Industries by 74.6% in the first quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company’s stock valued at $38,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Citigroup decreased their price target on PPG Industries from $124.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, October 6th. Mizuho decreased their price target on 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 PPG Industries from $135.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday. 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, Weiss Ratings reiterated a “hold (c)” rating on shares of PPG Industries in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $126.82.

PPG Industries Stock Down 1.2%

PPG stock opened at $98.45 on Monday. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $132.18. 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 stock’s 50 day moving average is $108.07 and its 200-day moving average is $109.06. The firm has a market capitalization of $22.22 billion, a PE ratio of 22.32, a P/E/G ratio of 2.04 and a beta of 1.16.

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

PPG Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Monday, August 11th were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.9%. This is an increase from PPG Industries’s previous quarterly dividend of $0.68. The ex-dividend date was Monday, August 11th. PPG Industries’s dividend payout ratio is 64.40%.

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.