PPG Industries, Inc. $PPG Shares Sold by Tanager Wealth Management LLP

Tanager Wealth Management LLP lowered its stake in PPG Industries, Inc. (NYSE:PPG) by 6.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 2,155 shares of the specialty chemicals company’s stock after selling 160 shares during the quarter. Tanager Wealth Management LLP’s holdings in PPG Industries were worth $245,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Cheviot Value Management LLC acquired a new position in PPG Industries in the first quarter valued at about $26,000. CVA Family Office LLC lifted its position in PPG Industries by 70.6% in the first quarter. CVA Family Office LLC now owns 273 shares of the specialty chemicals company’s stock valued at $30,000 after buying an additional 113 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of PPG Industries during the first quarter worth about $30,000. Financial Connections Group Inc. lifted its position in shares of PPG Industries by 74.6% during the first quarter. Financial Connections Group Inc. now owns 351 shares of the specialty chemicals company’s stock worth $38,000 after purchasing an additional 150 shares in the last quarter. Finally, Bell Investment Advisors Inc lifted its position in shares of PPG Industries by 40.9% during the first quarter. Bell Investment Advisors Inc now owns 355 shares of the specialty chemicals company’s stock worth $39,000 after purchasing an additional 103 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PPG shares. Citigroup increased their price target on shares of PPG Industries from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, June 13th. Mizuho increased their price target on shares of PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. UBS Group increased their price target on shares of PPG Industries from $111.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 9th. Wells Fargo & Company increased their price target on shares of PPG Industries from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 1st. Finally, Royal Bank Of Canada increased their price target on shares of PPG Industries from $115.00 to $117.00 and gave the stock a “sector perform” rating in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.82.

PPG Industries Stock Down 0.9%

PPG stock opened at $104.12 on Thursday. The company’s 50 day moving average price is $109.28 and its 200 day moving average price is $109.58. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $132.18. The firm has a market capitalization of $23.50 billion, a price-to-earnings ratio of 23.61, a PEG ratio of 2.18 and a beta of 1.16.

PPG Industries (NYSE:PPG) last released its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.22. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The firm had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.16 billion. During the same period in the prior year, the firm earned $2.50 earnings per share. The business’s quarterly revenue was down .9% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, equities research analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Monday, August 11th were paid a $0.71 dividend. This is an increase from PPG Industries’s previous quarterly dividend of $0.68. This represents a $2.84 annualized dividend and a yield of 2.7%. The ex-dividend date was Monday, August 11th. PPG Industries’s 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.