PPG Industries, Inc. $PPG Shares Bought by W.H. Cornerstone Investments Inc.

W.H. Cornerstone Investments Inc. boosted its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 27.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,685 shares of the specialty chemicals company’s stock after purchasing an additional 2,321 shares during the quarter. W.H. Cornerstone Investments Inc.’s holdings in PPG Industries were worth $1,215,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in PPG. Capital Advisors Ltd. LLC lifted its position in PPG Industries by 127.6% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 125 shares during the last quarter. Cheviot Value Management LLC acquired a new position in shares of PPG Industries in the first quarter worth $26,000. Gladwyn Financial Advisors Inc. bought a new position in PPG Industries during the second quarter valued at about $31,000. Headlands Technologies LLC acquired a new stake in shares of PPG Industries in the first quarter worth $30,000. Finally, Addison Advisors LLC boosted its position in shares of PPG Industries by 1,515.8% in the second quarter. Addison Advisors LLC now owns 307 shares of the specialty chemicals company’s stock valued at $35,000 after acquiring an additional 288 shares during the period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Stock Up 0.7%

Shares of NYSE:PPG traded up $0.71 during midday trading on Thursday, hitting $98.20. 174,681 shares of the company’s stock were exchanged, compared to its average volume of 1,990,229. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $130.05. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.47 and a quick ratio of 1.04. The stock has a 50 day moving average price of $103.20 and a 200-day moving average price of $108.74. The company has a market cap of $22.04 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 2.13 and a beta of 1.19.

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

PPG Industries Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Monday, November 10th. This represents a $2.84 annualized dividend and a yield of 2.9%. PPG Industries’s dividend payout ratio (DPR) is 64.40%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PPG. Royal Bank Of Canada upped their price objective 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. Wells Fargo & Company cut their target price on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Bank of America cut their price target on PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. UBS Group lowered their target price on shares of PPG Industries from $115.00 to $110.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Finally, Zacks Research downgraded shares of PPG Industries from a “hold” rating to a “strong sell” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, PPG Industries presently has a consensus rating of “Hold” and a consensus target price of $123.18.

PPG Industries Company 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.