AlTi Global Inc. Acquires 261 Shares of PPG Industries, Inc. $PPG

AlTi Global Inc. lifted its holdings in PPG Industries, Inc. (NYSE:PPG) by 12.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,352 shares of the specialty chemicals company’s stock after purchasing an additional 261 shares during the quarter. AlTi Global Inc.’s holdings in PPG Industries were worth $268,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Capital Advisors Ltd. LLC raised its position in shares of 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 acquiring an additional 125 shares during the last quarter. Cheviot Value Management LLC bought a new stake in shares of PPG Industries during the first quarter worth $26,000. Headlands Technologies LLC bought a new stake in shares of PPG Industries during the first quarter worth $30,000. Gladwyn Financial Advisors Inc. bought a new stake in shares of PPG Industries during the second quarter worth $31,000. Finally, Financial Connections Group Inc. raised its position in shares of PPG Industries by 74.6% during the first quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company’s stock worth $38,000 after acquiring an additional 150 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PPG shares. Bank of America dropped their target price on PPG Industries from $131.00 to $129.00 and set a “neutral” rating for the company in a research report on Tuesday, October 14th. Weiss Ratings restated a “hold (c)” rating on shares of PPG Industries in a research report on Wednesday, October 8th. UBS Group dropped their target price on PPG Industries from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Wells Fargo & Company dropped their target price on PPG Industries from $135.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday, October 10th. Finally, Citigroup decreased their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $125.00.

PPG Industries Stock Down 0.1%

Shares of PPG Industries stock opened at $103.43 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.42 and a debt-to-equity ratio of 0.76. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $130.05. The business has a fifty day simple moving average of $106.77 and a 200 day simple moving average of $108.98. The stock has a market cap of $23.34 billion, a PE ratio of 23.45, a price-to-earnings-growth ratio of 2.18 and a beta of 1.16.

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

PPG Industries Announces Dividend

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

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.