Chilton Capital Management LLC Trims Stock Position in PPG Industries, Inc. $PPG

Chilton Capital Management LLC lessened its stake in PPG Industries, Inc. (NYSE:PPG) by 59.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 235 shares of the specialty chemicals company’s stock after selling 341 shares during the period. Chilton Capital Management LLC’s holdings in PPG Industries were worth $27,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in shares of PPG Industries by 58.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,797,682 shares of the specialty chemicals company’s stock valued at $524,627,000 after purchasing an additional 1,766,518 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new stake in PPG Industries in the first quarter valued at approximately $127,152,000. Pzena Investment Management LLC acquired a new stake in shares of PPG Industries in the first quarter valued at approximately $105,349,000. Nuveen LLC purchased a new position in shares of PPG Industries during the first quarter worth approximately $79,881,000. Finally, Wellington Management Group LLP increased its holdings in shares of PPG Industries by 5.6% in the 1st quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company’s stock valued at $1,220,259,000 after acquiring an additional 592,152 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $103.43 on Monday. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $130.05. The company has a 50-day moving average price of $106.77 and a 200 day moving average price of $109.02. The company has a market cap of $23.34 billion, a P/E ratio of 23.45, a PEG ratio of 2.18 and a beta of 1.16. 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 (NYSE:PPG) last issued its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.22. PPG Industries had a return on equity of 23.85% and a net margin of 6.25%.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 prior year, the business posted $2.50 EPS. The company’s revenue for the quarter 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 predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently announced 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 dividend yield of 2.7%. The ex-dividend date is Monday, November 10th. PPG Industries’s payout ratio is presently 64.40%.

Analyst Ratings Changes

A number of analysts recently weighed in on PPG shares. Citigroup decreased 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 note on Monday, October 6th. Mizuho decreased their target price on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. JPMorgan Chase & Co. upgraded 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PPG Industries in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada lifted their target price on PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.00.

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.