Kingsview Wealth Management LLC Invests $5.73 Million in PPG Industries, Inc. $PPG

Kingsview Wealth Management LLC purchased a new position in shares of PPG Industries, Inc. (NYSE:PPG) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 47,223 shares of the specialty chemicals company’s stock, valued at approximately $5,728,000.

Other hedge funds have also added to or reduced their stakes in the company. Beacon Pointe Advisors LLC acquired a new position in PPG Industries during the second quarter valued at approximately $1,657,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of PPG Industries in the 2nd quarter valued at $29,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of PPG Industries in the 2nd quarter valued at $74,000. Rakuten Investment Management Inc. bought a new position in shares of PPG Industries in the 2nd quarter valued at $4,414,000. Finally, Glenview Trust Co acquired a new position in shares of PPG Industries during the 2nd quarter worth $1,931,000. 81.86% of the stock is owned by institutional investors.

PPG Industries Trading Up 0.5%

NYSE PPG opened at $114.06 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.72. PPG Industries, Inc. has a twelve month low of $93.39 and a twelve month high of $133.43. The company has a market cap of $25.36 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 1.65 and a beta of 1.07. The business’s fifty day moving average is $116.77 and its 200 day moving average is $113.70.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.02). The firm had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.37 billion. PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.PPG Industries’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.22 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, sell-side analysts expect that PPG Industries, Inc. will post 7.89 EPS for the current fiscal year.

PPG Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 2.6%. This is an increase from PPG Industries’s previous quarterly dividend of $0.71. The ex-dividend date is Monday, August 10th. PPG Industries’s dividend payout ratio (DPR) is presently 42.41%.

Analyst Upgrades and Downgrades

PPG has been the subject of several recent analyst reports. Royal Bank Of Canada dropped their price objective on PPG Industries from $129.00 to $122.00 and set a “sector perform” rating for the company in a research report on Thursday, July 30th. Wall Street Zen downgraded PPG Industries from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. The Goldman Sachs Group dropped their target price on shares of PPG Industries from $134.00 to $130.00 in a report on Friday, May 1st. Bank of America upgraded shares of PPG Industries from a “neutral” rating to a “buy” rating and raised their price target for the company from $127.00 to $134.00 in a research note on Friday, July 17th. Finally, Citigroup decreased their price target on shares of PPG Industries from $125.00 to $121.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $126.00.

PPG Industries Profile

PPG Industries is a global supplier of paints, coatings and specialty materials that serves industrial, transportation, consumer and construction markets. Founded in 1883 as the Pittsburgh Plate Glass Company, PPG has evolved from its origins in glass manufacturing into a diversified coatings and materials company headquartered in Pittsburgh, Pennsylvania. The company develops and manufactures a broad array of products used to protect and enhance surfaces, from consumer paints to highly engineered coatings for demanding industrial applications.

PPG’s product portfolio includes architectural and decorative paints, automotive original equipment and refinish coatings, industrial coatings for machinery and equipment, protective and marine coatings, aerospace and defense coatings, and packaging coatings and materials.