Vincent Morales Sells 5,200 Shares of PPG Industries (NYSE:PPG) Stock

PPG Industries, Inc. (NYSE:PPG) CFO Vincent Morales sold 5,200 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $110.00, for a total transaction of $572,000.00. Following the completion of the transaction, the chief financial officer directly owned 28,439 shares in the company, valued at approximately $3,128,290. The trade was a 15.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

PPG Industries Stock Up 0.3%

Shares of PPG stock opened at $110.39 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.08 and a debt-to-equity ratio of 0.74. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $124.74. The stock has a market cap of $24.77 billion, a P/E ratio of 25.03, a P/E/G ratio of 3.28 and a beta of 1.17. The company has a 50 day simple moving average of $101.86 and a two-hundred day simple moving average of $105.85.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.04. The firm had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.06 billion. PPG Industries had a net margin of 6.35% and a return on equity of 23.61%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.13 EPS. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. On average, research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Friday, February 20th will be given a $0.71 dividend. The ex-dividend date is Friday, February 20th. This represents a $2.84 dividend on an annualized basis and a yield of 2.6%. PPG Industries’s dividend payout ratio is presently 64.40%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Capital Advisors Ltd. LLC lifted its position in shares of PPG Industries by 127.6% in the second 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 in the last quarter. Steigerwald Gordon & Koch Inc. bought a new stake in PPG Industries in the 3rd quarter worth approximately $26,000. Dorato Capital Management purchased a new stake in shares of PPG Industries during the 4th quarter worth approximately $26,000. Quarry LP bought a new position in shares of PPG Industries during the 3rd quarter valued at approximately $26,000. Finally, Root Financial Partners LLC bought a new position in shares of PPG Industries during the 3rd quarter valued at approximately $30,000. Institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on PPG shares. 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 note on Tuesday, November 11th. Berenberg Bank reduced their price objective on shares of PPG Industries from $131.00 to $110.00 and set a “hold” rating for the company in a research note on Thursday, December 4th. Zacks Research downgraded shares of PPG Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, November 10th. Wells Fargo & Company dropped their target price on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Finally, Mizuho decreased their price target on PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $120.86.

PPG Industries Company 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.