Koshinski Asset Management Inc. Has $235,000 Position in PPG Industries, Inc. $PPG

Koshinski Asset Management Inc. lowered its position in PPG Industries, Inc. (NYSE:PPG) by 24.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,067 shares of the specialty chemicals company’s stock after selling 651 shares during the period. Koshinski Asset Management Inc.’s holdings in PPG Industries were worth $235,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. VELA Investment Management LLC acquired a new position in PPG Industries in the second quarter worth approximately $518,000. Applied Finance Capital Management LLC increased its holdings in PPG Industries by 2.1% in the second quarter. Applied Finance Capital Management LLC now owns 5,821 shares of the specialty chemicals company’s stock worth $662,000 after buying an additional 121 shares during the last quarter. Nordea Investment Management AB increased its holdings in PPG Industries by 4.8% in the second quarter. Nordea Investment Management AB now owns 20,416 shares of the specialty chemicals company’s stock worth $2,324,000 after buying an additional 938 shares during the last quarter. Bridges Investment Management Inc. increased its holdings in PPG Industries by 12.2% in the second quarter. Bridges Investment Management Inc. now owns 17,040 shares of the specialty chemicals company’s stock worth $1,938,000 after buying an additional 1,847 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new position in PPG Industries in the second quarter worth approximately $144,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Up 2.3%

PPG opened at $104.49 on Wednesday. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $130.05. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $23.58 billion, a price-to-earnings ratio of 23.69, a P/E/G ratio of 2.15 and a beta of 1.16. The business has a 50 day moving average of $107.32 and a 200-day moving average of $108.78.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, meeting 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 analysts’ expectations of $4.16 billion. During the same period in the prior year, the business earned $2.50 earnings per share. PPG Industries’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. As a group, sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. 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 report on Friday, October 10th. Mizuho decreased their target price on PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PPG Industries in a research report on Wednesday, October 8th. Bank of America decreased 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. Finally, Citigroup decreased their target price on PPG Industries from $124.00 to $120.00 and set a “buy” rating for the company in a research report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $125.00.

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.