Klingman & Associates LLC Purchases 350 Shares of PPG Industries, Inc. $PPG

Klingman & Associates LLC lifted its position in PPG Industries, Inc. (NYSE:PPG) by 10.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,553 shares of the specialty chemicals company’s stock after purchasing an additional 350 shares during the quarter. Klingman & Associates LLC’s holdings in PPG Industries were worth $404,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Cookson Peirce & Co. Inc. increased its stake in PPG Industries by 1.9% in the first quarter. Cookson Peirce & Co. Inc. now owns 4,862 shares of the specialty chemicals company’s stock valued at $532,000 after acquiring an additional 89 shares during the last quarter. Summit Financial LLC increased its stake in 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 acquiring an additional 90 shares during the last quarter. Conning Inc. increased its stake in PPG Industries by 5.5% in the first quarter. Conning Inc. now owns 1,881 shares of the specialty chemicals company’s stock valued at $206,000 after acquiring an additional 98 shares during the last quarter. Bell Investment Advisors Inc increased its stake in PPG Industries by 40.9% in the first quarter. Bell Investment Advisors Inc now owns 355 shares of the specialty chemicals company’s stock valued at $39,000 after acquiring an additional 103 shares during the last quarter. Finally, Chilton Capital Management LLC increased its stake in PPG Industries by 22.6% in the first quarter. Chilton Capital Management LLC now owns 576 shares of the specialty chemicals company’s stock valued at $63,000 after acquiring an additional 106 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Performance

PPG Industries stock opened at $104.49 on Wednesday. The company has a current ratio of 1.42, a quick ratio of 1.04 and a debt-to-equity ratio of 0.76. The firm has a 50-day moving average of $107.32 and a 200-day moving average of $108.78. The firm has a market cap of $23.58 billion, a P/E ratio of 23.69, a P/E/G ratio of 2.15 and a beta of 1.16. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $130.05.

PPG Industries (NYSE:PPG) last posted 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. The company had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.16 billion. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. PPG Industries’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the business posted $2.50 earnings per share. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. Sell-side analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Monday, November 10th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Monday, November 10th. PPG Industries’s dividend payout ratio is currently 64.40%.

Analyst Ratings Changes

A number of research analysts recently commented on PPG shares. Royal Bank Of Canada increased their target price 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. Weiss Ratings reissued a “hold (c)” rating on shares of PPG Industries in a research note on Wednesday, October 8th. Citigroup reduced their target price on PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. UBS Group cut their price target on shares of PPG Industries from $125.00 to $115.00 and set a “neutral” rating for the company in a research report on Monday, October 6th. Finally, Wells Fargo & Company cut their price target on shares of PPG Industries from $135.00 to $132.00 and set an “overweight” rating for the company in a research report on Friday, October 10th. One research 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. According to data from MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and a consensus target price of $125.00.

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.