PPG Industries, Inc. $PPG Shares Bought by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI increased its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 194.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,630 shares of the specialty chemicals company’s stock after purchasing an additional 15,592 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in PPG Industries were worth $2,484,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PPG. Walnut Level Capital LLC lifted its position in PPG Industries by 46.8% in the second quarter. Walnut Level Capital LLC now owns 62,754 shares of the specialty chemicals company’s stock valued at $7,138,000 after purchasing an additional 20,000 shares during the period. Avior Wealth Management LLC lifted its holdings in shares of PPG Industries by 8,828.7% in the 2nd quarter. Avior Wealth Management LLC now owns 8,393 shares of the specialty chemicals company’s stock valued at $955,000 after buying an additional 8,299 shares during the period. GAM Holding AG lifted its holdings in shares of PPG Industries by 97.5% in the 3rd quarter. GAM Holding AG now owns 21,281 shares of the specialty chemicals company’s stock valued at $2,237,000 after buying an additional 10,508 shares during the period. Vest Financial LLC boosted its stake in shares of PPG Industries by 17.4% in the second quarter. Vest Financial LLC now owns 526,269 shares of the specialty chemicals company’s stock valued at $59,863,000 after buying an additional 78,022 shares in the last quarter. Finally, Columbia Advisory Partners LLC acquired a new position in PPG Industries during the second quarter worth $318,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Vincent J. Morales sold 5,200 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $110.00, for a total transaction of $572,000.00. Following the sale, the chief financial officer owned 28,439 shares in the company, valued at approximately $3,128,290. This trade represents a 15.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.33% of the company’s stock.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $112.20 on Monday. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $124.74. The stock has a market cap of $25.18 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 3.32 and a beta of 1.17. The business’s fifty day moving average price is $103.33 and its two-hundred day moving average price is $105.55. 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 (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 the consensus estimate of $2.09 by $0.04. The business had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.06 billion. PPG Industries had a return on equity of 23.61% and a net margin of 6.35%.The business’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.13 earnings per share. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. On average, analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 20th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, February 20th. PPG Industries’s payout ratio is currently 64.40%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PPG. Weiss Ratings reiterated a “hold (c-)” rating on shares of PPG Industries in a report on Friday, October 31st. 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. UBS Group reduced their price target on shares of PPG Industries from $115.00 to $110.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. Mizuho lowered 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. Finally, Evercore ISI reduced their price objective on PPG Industries from $145.00 to $112.00 and set an “in-line” rating for the company in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $120.86.

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.