Equity Investment Corp Purchases 55,562 Shares of PPG Industries, Inc. $PPG

Equity Investment Corp raised its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 6.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 962,986 shares of the specialty chemicals company’s stock after purchasing an additional 55,562 shares during the period. PPG Industries accounts for approximately 2.1% of Equity Investment Corp’s holdings, making the stock its 26th biggest holding. Equity Investment Corp owned about 0.43% of PPG Industries worth $101,219,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PPG. Norges Bank bought a new position in PPG Industries in the second quarter valued at approximately $362,412,000. Holocene Advisors LP lifted its stake in shares of PPG Industries by 342.8% in the 2nd quarter. Holocene Advisors LP now owns 1,688,870 shares of the specialty chemicals company’s stock valued at $192,109,000 after purchasing an additional 1,307,468 shares during the period. First Eagle Investment Management LLC boosted its position in shares of PPG Industries by 21.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 5,560,280 shares of the specialty chemicals company’s stock worth $632,482,000 after purchasing an additional 971,799 shares during the last quarter. Burgundy Asset Management Ltd. bought a new position in shares of PPG Industries in the 2nd quarter worth $93,719,000. Finally, State Street Corp grew its stake in shares of PPG Industries by 6.3% during the second quarter. State Street Corp now owns 12,624,828 shares of the specialty chemicals company’s stock worth $1,436,074,000 after purchasing an additional 749,081 shares during the period. Institutional investors own 81.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PPG shares. Evercore ISI cut their target price on PPG Industries from $145.00 to $112.00 and set an “in-line” rating on the stock in a research note on Tuesday, November 11th. Zacks Research raised PPG Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. JPMorgan Chase & Co. increased their price target on shares of PPG Industries from $117.00 to $126.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. Wells Fargo & Company lifted their price objective on shares of PPG Industries from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, January 29th. Finally, Mizuho upped their target price on shares of PPG Industries from $118.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, January 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $123.71.

Insider Transactions at PPG Industries

In related news, VP Chancey E. Hagerty sold 2,250 shares of PPG Industries stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $115.59, for a total value of $260,077.50. Following the sale, the vice president owned 8,477 shares of the company’s stock, valued at approximately $979,856.43. This trade represents a 20.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vincent J. Morales sold 5,200 shares of the business’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 value of $572,000.00. Following the completion of the sale, the chief financial officer owned 28,439 shares in the company, valued at $3,128,290. The trade was a 15.46% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.33% of the stock is currently owned by company insiders.

PPG Industries Stock Up 2.6%

PPG Industries stock opened at $119.52 on Wednesday. The company has a 50 day moving average of $105.92 and a 200-day moving average of $105.49. 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, Inc. has a twelve month low of $90.24 and a twelve month high of $121.54. The stock has a market capitalization of $26.82 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 1.75 and a beta of 1.16.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, January 27th. The specialty chemicals company reported $1.51 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.06). The company had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.77 billion. PPG Industries had a net margin of 9.93% and a return on equity of 22.67%. The company’s revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.61 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, equities research analysts anticipate 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 dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, February 20th. PPG Industries’s dividend payout ratio is currently 40.92%.

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.