Prospera Financial Services Inc Buys 1,096 Shares of PPG Industries, Inc. $PPG

Prospera Financial Services Inc raised its stake in PPG Industries, Inc. (NYSE:PPG) by 10.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,079 shares of the specialty chemicals company’s stock after purchasing an additional 1,096 shares during the period. Prospera Financial Services Inc’s holdings in PPG Industries were worth $1,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Capital Advisors Ltd. LLC grew its position in shares of PPG Industries by 127.6% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 125 shares during the last quarter. Cheviot Value Management LLC acquired a new stake in PPG Industries in the first quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new position in PPG Industries in the first quarter worth $30,000. Gladwyn Financial Advisors Inc. acquired a new position in shares of PPG Industries during the second quarter worth $31,000. Finally, Financial Connections Group Inc. boosted its position in shares of PPG Industries by 74.6% in the 1st 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. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Performance

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

PPG Industries (NYSE:PPG) last issued 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. The firm had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.06 billion. PPG Industries had a net margin of 6.35% and a return on equity of 24.17%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.13 earnings per share. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. As a group, analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. 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 report on Monday, October 6th. Royal Bank Of Canada upped their price objective on shares of PPG Industries from $115.00 to $117.00 and gave the company a “sector perform” rating in a report on Friday, August 1st. JPMorgan Chase & Co. raised shares of PPG Industries from a “neutral” rating to an “overweight” rating and set a $112.00 price objective for the company in a research report on Thursday, October 16th. Evercore ISI dropped 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 research report on Tuesday. Finally, UBS Group decreased their price target on shares of PPG Industries from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, PPG Industries has an average rating of “Moderate Buy” and a consensus target price of $123.18.

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.