ProShare Advisors LLC Has $182.16 Million Position in PPG Industries, Inc. $PPG

ProShare Advisors LLC increased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 12.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,601,445 shares of the specialty chemicals company’s stock after purchasing an additional 178,210 shares during the quarter. ProShare Advisors LLC’s holdings in PPG Industries were worth $182,164,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Midwest Trust Co bought a new position in shares of PPG Industries in the second quarter valued at approximately $440,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of PPG Industries by 606.3% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 162,172 shares of the specialty chemicals company’s stock worth $18,447,000 after purchasing an additional 139,212 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of PPG Industries by 4.7% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 517,729 shares of the specialty chemicals company’s stock valued at $58,977,000 after buying an additional 23,247 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of PPG Industries by 523.9% in the second quarter. Parkside Financial Bank & Trust now owns 4,511 shares of the specialty chemicals company’s stock valued at $513,000 after buying an additional 3,788 shares during the last quarter. Finally, Aviva PLC lifted its position in PPG Industries by 3.5% during the 2nd quarter. Aviva PLC now owns 169,857 shares of the specialty chemicals company’s stock worth $19,321,000 after buying an additional 5,714 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PPG has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PPG Industries in a research note on Friday, October 31st. Citigroup dropped 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. Bank of America lowered their target price on shares of PPG Industries from $131.00 to $129.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Wells Fargo & Company cut their price target on PPG Industries from $132.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Finally, UBS Group decreased their price objective on PPG Industries from $115.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $124.30.

PPG Industries Price Performance

NYSE:PPG opened at $96.24 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.47. The firm has a market cap of $21.60 billion, a price-to-earnings ratio of 21.82, a P/E/G ratio of 2.13 and a beta of 1.19. The firm’s 50-day simple moving average is $104.01 and its 200 day simple moving average is $108.93. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $130.05.

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

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Monday, November 10th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.84 annualized dividend and a yield of 3.0%. PPG Industries’s dividend payout ratio is currently 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.