Altrinsic Global Advisors LLC Raises Stock Position in PPG Industries, Inc. $PPG

Altrinsic Global Advisors LLC grew its stake in PPG Industries, Inc. (NYSE:PPG) by 37.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 134,280 shares of the specialty chemicals company’s stock after buying an additional 36,783 shares during the period. PPG Industries accounts for 0.5% of Altrinsic Global Advisors LLC’s investment portfolio, making the stock its 21st largest holding. Altrinsic Global Advisors LLC owned about 0.06% of PPG Industries worth $14,114,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of PPG. Lazard Asset Management LLC lifted its position in PPG Industries by 6.6% in the second quarter. Lazard Asset Management LLC now owns 1,576 shares of the specialty chemicals company’s stock valued at $179,000 after acquiring an additional 97 shares during the last quarter. G&S Capital LLC grew its holdings in shares of PPG Industries by 1.9% during 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. Columbia Bank increased its position in shares of PPG Industries by 1.0% during the third quarter. Columbia Bank now owns 10,951 shares of the specialty chemicals company’s stock worth $1,090,000 after purchasing an additional 106 shares in the last quarter. Citizens Financial Group Inc. RI increased its position in shares of 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 worth $2,584,000 after purchasing an additional 107 shares in the last quarter. Finally, Groupe la Francaise lifted its holdings in shares of PPG Industries by 8.9% in the 2nd quarter. Groupe la Francaise now owns 1,304 shares of the specialty chemicals company’s stock valued at $148,000 after purchasing an additional 107 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PPG shares. Mizuho upped their target price on PPG Industries from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Evercore lifted their price target on PPG Industries from $112.00 to $128.00 in a research report on Wednesday, February 18th. Royal Bank Of Canada boosted their price objective on PPG Industries from $109.00 to $115.00 and gave the company a “sector perform” rating in a research note on Thursday, January 29th. The Goldman Sachs Group raised their target price 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. Finally, Wells Fargo & Company lifted their target price on shares of PPG Industries from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and an average target price of $125.93.

Insider Buying and Selling

In other PPG Industries news, VP Chancey E. Hagerty sold 2,250 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president owned 8,477 shares in the company, valued at approximately $979,856.43. This 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 the SEC website. Also, CFO Vincent J. Morales sold 78,095 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $131.00, for a total transaction of $10,230,445.00. The SEC filing for this sale provides additional information. Insiders sold a total of 118,811 shares of company stock valued at $15,219,371 over the last three months. 0.33% of the stock is currently owned by company insiders.

PPG Industries Stock Performance

NYSE PPG opened at $101.88 on Friday. The firm has a market cap of $22.80 billion, a P/E ratio of 14.68, a P/E/G ratio of 1.53 and a beta of 1.15. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $133.43. The business’s 50-day moving average price is $116.33 and its 200 day moving average price is $107.50. The company has a quick ratio of 1.22, a current ratio of 1.62 and a debt-to-equity ratio of 0.82.

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). PPG Industries had a net margin of 9.93% and a return on equity of 22.30%. The company had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the company earned $1.61 earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, equities research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Friday, February 20th were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a $2.84 annualized dividend and a dividend yield of 2.8%. PPG Industries’s dividend payout ratio (DPR) 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.