Wealthfront Advisers LLC Sells 11,433 Shares of PPG Industries, Inc. $PPG

Wealthfront Advisers LLC decreased its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 33.3% during the second quarter, HoldingsChannel reports. The firm owned 22,907 shares of the specialty chemicals company’s stock after selling 11,433 shares during the quarter. Wealthfront Advisers LLC’s holdings in PPG Industries were worth $2,606,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PPG. Price T Rowe Associates Inc. MD boosted its stake in shares of PPG Industries by 58.3% during 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 in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of PPG Industries during the 1st quarter valued at about $127,152,000. Pzena Investment Management LLC purchased a new position in PPG Industries during the 1st quarter valued at about $105,349,000. Nuveen LLC bought a new stake in PPG Industries during the first quarter worth about $79,881,000. Finally, Wellington Management Group LLP boosted its stake in PPG Industries by 5.6% during the first quarter. Wellington Management Group LLP now owns 11,159,203 shares of the specialty chemicals company’s stock worth $1,220,259,000 after acquiring an additional 592,152 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Down 5.9%

Shares of PPG Industries stock opened at $99.09 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42. The stock has a market capitalization of $22.37 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 2.22 and a beta of 1.16. 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 simple moving average of $106.26 and a two-hundred day simple moving average of $109.07.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.04. The business had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.06 billion. PPG Industries had a net margin of 6.35% and a return on equity of 24.17%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.13 earnings per share. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. On average, analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, November 10th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, November 10th. PPG Industries’s payout ratio is presently 64.40%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. raised shares of PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 price objective on the stock in a research note on Thursday, October 16th. UBS Group dropped their price objective on shares of PPG Industries from $125.00 to $115.00 and set a “neutral” rating on the stock in a research note on Monday, October 6th. Mizuho dropped their price objective on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Citigroup dropped their price objective on shares of PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. Finally, Wells Fargo & Company dropped their price objective on shares of PPG Industries from $135.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, October 10th. One research 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 company. According to MarketBeat, PPG Industries currently has an average rating of “Moderate Buy” and an average price target 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.