PPG Industries, Inc. $PPG Shares Sold by Cim Investment Management Inc.

Cim Investment Management Inc. decreased its holdings in PPG Industries, Inc. (NYSE:PPG) by 50.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,187 shares of the specialty chemicals company’s stock after selling 5,321 shares during the quarter. Cim Investment Management Inc.’s holdings in PPG Industries were worth $545,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PPG. Norges Bank purchased a new position in PPG Industries in the 2nd quarter valued at approximately $362,412,000. Wellington Management Group LLP raised its stake in shares of PPG Industries by 19.9% in the third quarter. Wellington Management Group LLP now owns 15,159,770 shares of the specialty chemicals company’s stock valued at $1,593,443,000 after acquiring an additional 2,521,004 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of PPG Industries by 39.4% in the third quarter. Franklin Resources Inc. now owns 4,695,477 shares of the specialty chemicals company’s stock valued at $493,542,000 after acquiring an additional 1,326,619 shares in the last quarter. Holocene Advisors LP boosted its holdings in PPG Industries by 342.8% in the second 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. Finally, Burgundy Asset Management Ltd. purchased a new position in PPG Industries in the second quarter valued at $93,719,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Buying and Selling

In related news, VP Anne M. Foulkes sold 3,594 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $124.61, for a total transaction of $447,848.34. Following the transaction, the vice president owned 15,641 shares of the company’s stock, valued at $1,949,025.01. This trade represents a 18.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Vincent J. Morales sold 78,095 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $131.00, for a total value of $10,230,445.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 118,811 shares of company stock valued at $15,219,371 over the last quarter. 0.33% of the stock is currently owned by insiders.

PPG Industries Stock Performance

Shares of PPG opened at $103.92 on Wednesday. The company’s 50 day simple moving average is $116.26 and its 200-day simple moving average is $107.36. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $133.43. The firm has a market cap of $23.26 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 1.56 and a beta of 1.15. The company has a current ratio of 1.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.82.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, January 27th. The specialty chemicals company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.06). PPG Industries had a return on equity of 22.30% and a net margin of 9.93%.The business had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the company earned $1.61 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, equities analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Friday, February 20th were paid a dividend of $0.71 per share. The ex-dividend date was Friday, February 20th. This represents a $2.84 annualized dividend and a dividend yield of 2.7%. PPG Industries’s dividend payout ratio is 40.92%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PPG shares. Citigroup upped their price target on PPG Industries from $127.00 to $132.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Berenberg Bank decreased their price objective on PPG Industries from $131.00 to $110.00 and set a “hold” rating for the company in a research note on Thursday, December 4th. Jefferies Financial Group boosted their price objective on PPG Industries from $115.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, January 29th. KeyCorp reaffirmed a “sector weight” rating on shares of PPG Industries in a report on Thursday, January 29th. Finally, BNP Paribas Exane decreased their price target on shares of PPG Industries from $113.00 to $112.00 and set a “neutral” rating for the company in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, PPG Industries currently has an average rating of “Moderate Buy” and a consensus target price of $125.93.

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.