Massachusetts Financial Services Co. MA Decreases Holdings in PPG Industries, Inc. $PPG

Massachusetts Financial Services Co. MA decreased its position in PPG Industries, Inc. (NYSE:PPG) by 1.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,935,096 shares of the specialty chemicals company’s stock after selling 32,650 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.86% of PPG Industries worth $203,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of PPG. Lazard Asset Management LLC lifted its holdings in shares of PPG Industries by 6.6% in the 2nd quarter. Lazard Asset Management LLC now owns 1,576 shares of the specialty chemicals company’s stock worth $179,000 after acquiring an additional 97 shares during the last quarter. G&S Capital LLC lifted its stake in PPG Industries by 1.9% in the third quarter. G&S Capital LLC now owns 5,620 shares of the specialty chemicals company’s stock worth $591,000 after purchasing an additional 104 shares during the last quarter. Citizens Financial Group Inc. RI boosted its position in PPG Industries by 0.5% during the second quarter. Citizens Financial Group Inc. RI now owns 22,716 shares of the specialty chemicals company’s stock valued at $2,584,000 after buying an additional 107 shares during the period. Groupe la Francaise grew its stake in shares of PPG Industries by 8.9% during the second quarter. Groupe la Francaise now owns 1,304 shares of the specialty chemicals company’s stock valued at $148,000 after buying an additional 107 shares during the last quarter. Finally, Farmers Trust Co. grew its stake in shares of PPG Industries by 0.7% during the third quarter. Farmers Trust Co. now owns 15,712 shares of the specialty chemicals company’s stock valued at $1,651,000 after buying an additional 115 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Stock Performance

NYSE:PPG opened at $110.39 on Tuesday. The stock has a market cap of $24.77 billion, a P/E ratio of 25.03, a price-to-earnings-growth ratio of 3.28 and a beta of 1.17. The firm’s fifty day simple moving average is $102.15 and its 200 day simple moving average is $105.70. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $124.74. The company has a quick ratio of 1.08, a current ratio of 1.47 and a debt-to-equity ratio of 0.74.

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

PPG Industries Dividend Announcement

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

Insiders Place Their Bets

In other PPG Industries news, CFO Vincent J. Morales sold 5,200 shares of PPG Industries 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 sale, the chief financial officer directly owned 28,439 shares of the company’s stock, 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 link. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PPG shares. Zacks Research cut PPG Industries from a “hold” rating to a “strong sell” rating in a report on Monday, November 10th. Berenberg Bank cut their target price on shares of PPG Industries from $131.00 to $110.00 and set a “hold” rating on the stock in a report on Thursday, December 4th. Bank of America decreased their target price on shares of PPG Industries from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Mizuho dropped their price target on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Finally, Citigroup raised their price target on shares of PPG Industries from $116.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $120.86.

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.