CIBC Bancorp USA Inc. Takes Position in PPG Industries, Inc. $PPG

CIBC Bancorp USA Inc. acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 137,822 shares of the specialty chemicals company’s stock, valued at approximately $14,486,000. CIBC Bancorp USA Inc. owned 0.06% of PPG Industries as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. First Eagle Investment Management LLC raised its holdings in shares of PPG Industries by 12.7% in the 3rd quarter. First Eagle Investment Management LLC now owns 6,263,829 shares of the specialty chemicals company’s stock valued at $658,391,000 after buying an additional 703,549 shares during the period. Dimensional Fund Advisors LP boosted its holdings in PPG Industries by 1.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,020,138 shares of the specialty chemicals company’s stock valued at $317,421,000 after acquiring an additional 43,702 shares during the period. Walnut Level Capital LLC grew its position in PPG Industries by 46.8% in the 2nd quarter. Walnut Level Capital LLC now owns 62,754 shares of the specialty chemicals company’s stock valued at $7,138,000 after acquiring an additional 20,000 shares in the last quarter. GAM Holding AG grew its position in PPG Industries by 97.5% in the 3rd quarter. GAM Holding AG now owns 21,281 shares of the specialty chemicals company’s stock valued at $2,237,000 after acquiring an additional 10,508 shares in the last quarter. Finally, Rakuten Investment Management Inc. purchased a new stake in PPG Industries during the third quarter worth about $16,245,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Buying and Selling

In other PPG Industries news, VP Anne M. Foulkes sold 3,594 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $124.61, for a total value of $447,848.34. Following the completion of the sale, the vice president owned 15,641 shares in the company, valued at approximately $1,949,025.01. The trade was a 18.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Chancey E. Hagerty sold 2,250 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president directly owned 8,477 shares of the company’s stock, valued at $979,856.43. The trade was a 20.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 118,811 shares of company stock worth $15,219,371 in the last quarter. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PPG shares. JPMorgan Chase & Co. raised their price objective on shares of PPG Industries from $117.00 to $126.00 and gave the company an “overweight” rating in a research note on Thursday, January 29th. The Goldman Sachs Group upped their target price on shares of PPG Industries from $118.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. BNP Paribas Exane reduced their target price on shares of PPG Industries from $113.00 to $112.00 and set a “neutral” rating on the stock in a report on Wednesday, January 14th. Citigroup raised their price target on shares of PPG Industries from $127.00 to $132.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Finally, Mizuho boosted their price target on shares of PPG Industries from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $125.86.

PPG Industries Trading Down 2.5%

NYSE PPG opened at $98.22 on Friday. The firm’s fifty day moving average price is $116.05 and its 200 day moving average price is $107.25. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $133.43. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.62 and a quick ratio of 1.22. The company has a market capitalization of $21.98 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 1.52 and a beta of 1.15.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Tuesday, January 27th. The specialty chemicals company reported $1.51 earnings per share (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 analyst estimates of $3.77 billion. PPG Industries had a net margin of 9.93% and a return on equity of 22.30%. The business’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.61 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, sell-side analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Friday, February 20th were given a $0.71 dividend. The ex-dividend date of this dividend was Friday, February 20th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.9%. PPG Industries’s dividend payout ratio is 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.