Commonwealth Equity Services LLC Sells 4,661 Shares of PPG Industries, Inc. $PPG

Commonwealth Equity Services LLC lessened its holdings in PPG Industries, Inc. (NYSE:PPG) by 7.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,015 shares of the specialty chemicals company’s stock after selling 4,661 shares during the period. Commonwealth Equity Services LLC’s holdings in PPG Industries were worth $5,678,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Lazard Asset Management LLC lifted its position in shares of PPG Industries by 6.6% in the second quarter. Lazard Asset Management LLC now owns 1,576 shares of the specialty chemicals company’s stock worth $179,000 after buying an additional 97 shares during the last quarter. Citizens Financial Group Inc. RI increased its holdings in shares of PPG Industries by 0.5% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 22,716 shares of the specialty chemicals company’s stock valued at $2,584,000 after acquiring an additional 107 shares during the last quarter. Groupe la Francaise raised its stake in shares of PPG Industries by 8.9% in the 2nd quarter. Groupe la Francaise now owns 1,304 shares of the specialty chemicals company’s stock valued at $148,000 after acquiring an additional 107 shares in the last quarter. Farmers Trust Co. lifted its holdings in PPG Industries by 0.7% in the 3rd quarter. Farmers Trust Co. now owns 15,712 shares of the specialty chemicals company’s stock worth $1,651,000 after purchasing an additional 115 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC boosted its position in PPG Industries by 1.7% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 7,155 shares of the specialty chemicals company’s stock worth $752,000 after purchasing an additional 119 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PPG shares. UBS Group dropped their price target on shares of PPG Industries from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. Zacks Research downgraded shares of PPG Industries from a “hold” rating to a “strong sell” rating in a report on Monday, November 10th. 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 report on Friday, October 3rd. Wells Fargo & Company lowered their price target on PPG Industries from $132.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Finally, Evercore ISI cut their price objective on PPG Industries from $145.00 to $112.00 and set an “in-line” rating for the company in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $122.54.

PPG Industries Stock Performance

NYSE:PPG opened at $108.48 on Thursday. The firm’s 50-day moving average is $101.28 and its 200-day moving average is $105.92. The company has a market cap of $24.34 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 3.20 and a beta of 1.17. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.47. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $124.74.

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, topping analysts’ consensus estimates of $2.09 by $0.04. PPG Industries had a return on equity of 23.61% and a net margin of 6.35%.The business had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same period last year, the business earned $2.13 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Equities research analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

About PPG Industries

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.