PPG Industries, Inc. $PPG Shares Purchased by Walnut Level Capital LLC

Walnut Level Capital LLC lifted its position in shares of PPG Industries, Inc. (NYSE:PPG) by 46.8% during the second quarter, Holdings Channel.com reports. The firm owned 62,754 shares of the specialty chemicals company’s stock after purchasing an additional 20,000 shares during the period. PPG Industries accounts for 3.9% of Walnut Level Capital LLC’s holdings, making the stock its 4th biggest position. Walnut Level Capital LLC’s holdings in PPG Industries were worth $7,138,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Avior Wealth Management LLC increased its stake in shares of PPG Industries by 8,828.7% during the 2nd quarter. Avior Wealth Management LLC now owns 8,393 shares of the specialty chemicals company’s stock worth $955,000 after purchasing an additional 8,299 shares during the last quarter. Jump Financial LLC grew its holdings in PPG Industries by 1,478.5% during the first quarter. Jump Financial LLC now owns 88,587 shares of the specialty chemicals company’s stock valued at $9,687,000 after purchasing an additional 82,975 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in PPG Industries in the first quarter worth $884,000. Mather Group LLC. raised its stake in shares of PPG Industries by 2.9% in the second quarter. Mather Group LLC. now owns 125,616 shares of the specialty chemicals company’s stock valued at $14,289,000 after buying an additional 3,551 shares during the period. Finally, Vest Financial LLC lifted its position in shares of PPG Industries by 17.4% during the 2nd quarter. Vest Financial LLC now owns 526,269 shares of the specialty chemicals company’s stock valued at $59,863,000 after buying an additional 78,022 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analysts Set New Price Targets

PPG has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of PPG Industries in a report on Friday, October 31st. Citigroup reduced their target price 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. Zacks Research cut shares of PPG Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, November 10th. Wells Fargo & Company cut their price objective on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Finally, Evercore ISI lowered their target price on shares of PPG Industries from $145.00 to $112.00 and set an “in-line” rating on the stock in a report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $122.54.

PPG Industries Stock Up 0.7%

PPG opened at $103.48 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.08. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $124.87. The firm has a market capitalization of $23.22 billion, a P/E ratio of 23.46, a price-to-earnings-growth ratio of 2.84 and a beta of 1.16. The company has a fifty day moving average price of $99.48 and a 200-day moving average price of $107.02.

PPG Industries (NYSE:PPG) last posted its earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 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 return on equity of 23.61% and a net margin of 6.35%.The firm’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.13 earnings per share. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Equities research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Monday, November 10th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Monday, November 10th. PPG Industries’s dividend payout ratio (DPR) is currently 64.40%.

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.