Envestnet Asset Management Inc. Has $20.10 Million Holdings in PPG Industries, Inc. $PPG

Envestnet Asset Management Inc. raised its holdings in PPG Industries, Inc. (NYSE:PPG) by 10.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 191,198 shares of the specialty chemicals company’s stock after acquiring an additional 18,031 shares during the period. Envestnet Asset Management Inc. owned about 0.09% of PPG Industries worth $20,097,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of PPG Industries by 0.7% during the second quarter. Vanguard Group Inc. now owns 29,265,369 shares of the specialty chemicals company’s stock valued at $3,328,936,000 after purchasing an additional 192,560 shares in the last quarter. State Street Corp grew its holdings in PPG Industries by 6.3% during the 2nd quarter. State Street Corp now owns 12,624,828 shares of the specialty chemicals company’s stock worth $1,436,074,000 after acquiring an additional 749,081 shares during the last quarter. First Eagle Investment Management LLC increased its position in 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 valued at $632,482,000 after acquiring an additional 971,799 shares during the period. Norges Bank bought a new position in shares of PPG Industries during the second quarter valued at $362,412,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of PPG Industries by 1.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,775,676 shares of the specialty chemicals company’s stock worth $315,734,000 after purchasing an additional 41,406 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PPG Industries

In other PPG Industries news, CFO Vincent J. Morales sold 29,672 shares of PPG Industries stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $125.00, for a total value of $3,709,000.00. Following the completion of the transaction, the chief financial officer directly owned 28,439 shares of the company’s stock, valued at approximately $3,554,875. The trade was a 51.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Chancey E. Hagerty sold 2,250 shares of the stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $115.59, for a total value of $260,077.50. Following the sale, the vice president directly owned 8,477 shares in the company, valued at $979,856.43. This trade represents a 20.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 37,122 shares of company stock worth $4,541,078 in the last ninety days. Insiders own 0.33% of the company’s stock.

PPG Industries Price Performance

PPG Industries stock opened at $131.26 on Friday. The business’s 50 day simple moving average is $110.40 and its 200 day simple moving average is $106.31. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $133.43. The company has a market cap of $29.45 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 1.97 and a beta of 1.16. 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 issued its quarterly earnings data on Tuesday, January 27th. The specialty chemicals company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.06). The company had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.77 billion. PPG Industries had a return on equity of 22.67% and a net margin of 9.93%.The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the company posted $1.61 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Sell-side analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, February 20th. PPG Industries’s dividend payout ratio (DPR) is currently 40.92%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. BNP Paribas Exane lowered their price target on shares of PPG Industries from $113.00 to $112.00 and set a “neutral” rating for the company in a report on Wednesday, January 14th. The Goldman Sachs Group increased their price objective on shares of PPG Industries from $118.00 to $132.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Citigroup boosted their target price on shares of PPG Industries from $127.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Sanford C. Bernstein boosted their price objective on PPG Industries from $123.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Finally, KeyCorp restated a “sector weight” rating on shares of PPG Industries in a research report on Thursday, January 29th. One 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $124.79.

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.