Kelleher Financial Advisors Invests $591,000 in PPG Industries, Inc. $PPG

Kelleher Financial Advisors bought a new stake in PPG Industries, Inc. (NYSE:PPG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,197 shares of the specialty chemicals company’s stock, valued at approximately $591,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PPG. Cookson Peirce & Co. Inc. lifted its stake in PPG Industries by 1.9% in the 1st quarter. Cookson Peirce & Co. Inc. now owns 4,862 shares of the specialty chemicals company’s stock valued at $532,000 after purchasing an additional 89 shares during the last quarter. Summit Financial LLC increased its stake in shares of PPG Industries by 1.3% in the first quarter. Summit Financial LLC now owns 7,246 shares of the specialty chemicals company’s stock valued at $792,000 after buying an additional 90 shares during the period. Bell Investment Advisors Inc lifted its position in shares of PPG Industries by 40.9% in the 1st 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 during the period. Motco increased its position in shares of PPG Industries by 19.3% during the first quarter. Motco now owns 680 shares of the specialty chemicals company’s stock worth $74,000 after buying an additional 110 shares during the period. Finally, BKM Wealth Management LLC grew its holdings in PPG Industries by 2.4% during the 1st quarter. BKM Wealth Management LLC now owns 4,847 shares of the specialty chemicals company’s stock worth $530,000 after acquiring an additional 115 shares during the period. Institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Zacks Research cut PPG Industries from a “hold” rating to a “strong sell” rating in a report on Monday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PPG Industries in a research report on Friday, October 31st. Mizuho decreased their price target on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Wells Fargo & Company dropped their price objective on shares of 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, JPMorgan Chase & Co. raised shares of PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 target price for the company in a research report on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $123.18.

PPG Industries Trading Down 0.0%

Shares of PPG stock opened at $95.90 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.47 and a debt-to-equity ratio of 0.76. The firm has a market cap of $21.52 billion, a P/E ratio of 21.75, a PEG ratio of 2.13 and a beta of 1.19. The company has a 50 day moving average of $103.43 and a 200-day moving average of $108.82. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $130.05.

PPG Industries (NYSE:PPG) last posted 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. PPG Industries had a return on equity of 24.17% and a net margin of 6.35%.The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the prior year, the business posted $2.13 earnings per share. The business’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. Sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, November 10th will be given a dividend of $0.71 per share. The ex-dividend date is Monday, November 10th. This represents a $2.84 annualized dividend and a dividend yield of 3.0%. PPG Industries’s dividend payout ratio is currently 64.40%.

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.