Assenagon Asset Management S.A. Has $10.67 Million Stock Holdings in PPG Industries, Inc. $PPG

Assenagon Asset Management S.A. lifted its position in PPG Industries, Inc. (NYSE:PPG) by 24.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 104,110 shares of the specialty chemicals company’s stock after purchasing an additional 20,165 shares during the quarter. Assenagon Asset Management S.A.’s holdings in PPG Industries were worth $10,667,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of PPG Industries in the third quarter valued at $26,000. Quarry LP bought a new stake in shares of PPG Industries during the third quarter worth $26,000. Root Financial Partners LLC bought a new stake in shares of PPG Industries during the third quarter worth $30,000. Quent Capital LLC acquired a new position in shares of PPG Industries during the third quarter valued at $57,000. Finally, Cornerstone Planning Group LLC boosted its holdings in PPG Industries by 2,500.0% in the third quarter. Cornerstone Planning Group LLC now owns 572 shares of the specialty chemicals company’s stock valued at $60,000 after acquiring an additional 550 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

Insider Transactions at PPG Industries

In related news, VP Anne M. Foulkes sold 3,594 shares of PPG Industries stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $124.61, for a total transaction of $447,848.34. Following the completion of the sale, the vice president directly owned 15,641 shares of the company’s stock, valued at approximately $1,949,025.01. This trade represents a 18.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vincent J. Morales sold 78,095 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $131.00, for a total value of $10,230,445.00. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 118,811 shares of company stock worth $15,219,371. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada reduced their target price on shares of PPG Industries from $115.00 to $114.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 19th. Sanford C. Bernstein raised their price objective on shares of PPG Industries from $123.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Jefferies Financial Group lifted their target price on shares of PPG Industries from $115.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, January 29th. JPMorgan Chase & Co. upped their target price 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. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of PPG Industries in a research report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, PPG Industries has a consensus rating of “Moderate Buy” and an average price target of $124.07.

PPG Industries Price Performance

NYSE:PPG opened at $103.87 on Friday. The stock has a market capitalization of $23.25 billion, a PE ratio of 14.97, a P/E/G ratio of 1.59 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. The firm has a fifty day simple moving average of $115.39 and a 200 day simple moving average of $106.96. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $133.43.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Tuesday, January 27th. The specialty chemicals company reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.06). PPG Industries had a net margin of 9.93% and a return on equity of 22.30%. The firm had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the business earned $1.61 EPS. The business’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, research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 2.7%. PPG Industries’s dividend payout ratio (DPR) 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.