411,757 Shares in PPG Industries, Inc. $PPG Purchased by Cullen Capital Management LLC

Cullen Capital Management LLC purchased a new stake in shares of PPG Industries, Inc. (NYSE:PPG) during the second quarter, HoldingsChannel.com reports. The fund purchased 411,757 shares of the specialty chemicals company’s stock, valued at approximately $46,837,000.

A number of other large investors have also recently made changes to their positions in PPG. Capital Advisors Ltd. LLC raised its holdings in shares of PPG Industries by 127.6% during the second quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 125 shares during the last quarter. Gladwyn Financial Advisors Inc. purchased a new stake in PPG Industries during the 2nd quarter valued at $31,000. Vermillion & White Wealth Management Group LLC raised its stake in PPG Industries by 100.7% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 273 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 137 shares during the last quarter. Rothschild Investment LLC lifted its holdings in shares of PPG Industries by 184.0% during the 2nd quarter. Rothschild Investment LLC now owns 284 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 184 shares during the period. Finally, Addison Advisors LLC boosted its stake in shares of PPG Industries by 1,515.8% in the 2nd quarter. Addison Advisors LLC now owns 307 shares of the specialty chemicals company’s stock worth $35,000 after buying an additional 288 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Stock Performance

PPG opened at $103.48 on Monday. The company has a 50 day simple moving average of $99.48 and a two-hundred day simple moving average of $106.99. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.08. The firm has a market cap of $23.22 billion, a P/E ratio of 23.46, a PEG ratio of 2.84 and a beta of 1.16. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $124.87.

PPG Industries (NYSE:PPG) last released its earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.04. The company had revenue of $4.08 billion for 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 23.61%. PPG Industries’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.13 EPS. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Equities analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Monday, November 10th were given a dividend of $0.71 per share. The ex-dividend date was Monday, November 10th. This represents a $2.84 annualized dividend and a dividend yield of 2.7%. PPG Industries’s dividend payout ratio (DPR) is currently 64.40%.

Analyst Upgrades and Downgrades

PPG has been the subject of a number of research reports. Wells Fargo & Company reduced their price objective on PPG Industries from $132.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. JPMorgan Chase & Co. increased their price objective on shares of PPG Industries from $112.00 to $117.00 and gave the stock an “overweight” rating in a research note on Friday, November 21st. Weiss Ratings restated a “hold (c-)” rating on shares of PPG Industries in a research report on Friday, October 31st. Berenberg Bank decreased their price target on shares of PPG Industries from $131.00 to $110.00 and set a “hold” rating on the stock in a research report on Thursday, December 4th. Finally, Zacks Research cut shares of PPG Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, PPG Industries currently has an average rating of “Hold” and an average target price of $122.54.

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.