PPG Industries (NYSE:PPG) VP Chancey Hagerty Sells 2,250 Shares of Stock

PPG Industries, Inc. (NYSE:PPG) VP Chancey Hagerty sold 2,250 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $115.59, for a total transaction of $260,077.50. Following the sale, the vice president owned 8,477 shares in the company, valued at $979,856.43. The trade was a 20.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

PPG Industries Stock Up 0.8%

PPG Industries stock opened at $116.57 on Tuesday. The firm has a market capitalization of $26.16 billion, a price-to-earnings ratio of 16.80, a P/E/G ratio of 1.73 and a beta of 1.17. The firm has a 50 day simple moving average of $105.52 and a 200 day simple moving average of $105.46. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $120.91. 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 (NYSE:PPG) last announced its quarterly earnings results on Tuesday, January 27th. The specialty chemicals company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.06). PPG Industries had a net margin of 9.93% and a return on equity of 22.67%. The company had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter last year, the firm posted $1.61 earnings per share. PPG Industries’s revenue for the quarter was up 5.0% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders 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 dividend yield of 2.4%. PPG Industries’s payout ratio is currently 40.92%.

Analysts Set New Price Targets

A number of research firms have commented on PPG. UBS Group lifted their target price on PPG Industries from $110.00 to $122.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. Jefferies Financial Group upped their price objective on PPG Industries from $115.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, January 29th. Bank of America reduced their target price on shares of PPG Industries from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. KeyCorp reiterated a “sector weight” rating on shares of PPG Industries in a research report on Thursday. Finally, Mizuho lifted their price target on shares of PPG Industries from $118.00 to $125.00 and gave the company an “outperform” rating in a report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $123.71.

Institutional Investors Weigh In On PPG Industries

Large investors have recently added to or reduced their stakes in the stock. Nicholas Hoffman & Company LLC. lifted its stake in shares of PPG Industries by 11.9% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 16,673 shares of the specialty chemicals company’s stock valued at $1,708,000 after purchasing an additional 1,779 shares during the last quarter. Allegheny Financial Group raised its holdings in PPG Industries by 12.1% during the 4th quarter. Allegheny Financial Group now owns 78,968 shares of the specialty chemicals company’s stock valued at $8,091,000 after buying an additional 8,540 shares during the period. Wolverine Asset Management LLC bought a new stake in PPG Industries in the fourth quarter worth $973,000. Varma Mutual Pension Insurance Co boosted its stake in PPG Industries by 9.0% during the fourth quarter. Varma Mutual Pension Insurance Co now owns 134,286 shares of the specialty chemicals company’s stock worth $13,759,000 after buying an additional 11,100 shares during the period. Finally, Truist Financial Corp increased its position in PPG Industries by 4.0% during the fourth quarter. Truist Financial Corp now owns 74,782 shares of the specialty chemicals company’s stock valued at $7,662,000 after acquiring an additional 2,872 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

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.