Allstate Corp Takes $864,000 Position in PPG Industries, Inc. $PPG

Allstate Corp bought a new stake in PPG Industries, Inc. (NYSE:PPG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,216 shares of the specialty chemicals company’s stock, valued at approximately $864,000.

Other institutional investors also recently made changes to their positions in the company. Capital Advisors Ltd. LLC increased its holdings in PPG Industries by 127.6% in the second quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 125 shares in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new stake in PPG Industries during the third quarter worth approximately $26,000. Gladwyn Financial Advisors Inc. acquired a new position in PPG Industries in the second quarter valued at $31,000. Vermillion & White Wealth Management Group LLC lifted its position in PPG Industries by 100.7% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 273 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 137 shares during the period. Finally, Rothschild Investment LLC grew its holdings in PPG Industries by 184.0% in the second quarter. Rothschild Investment LLC now owns 284 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 184 shares during the period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Stock Up 3.2%

Shares of PPG Industries stock opened at $112.45 on Thursday. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $124.74. The stock’s fifty day moving average is $102.72 and its 200-day moving average is $105.69. The firm has a market capitalization of $25.23 billion, a PE ratio of 25.50, a price-to-earnings-growth ratio of 3.24 and a beta of 1.17. The company has a quick ratio of 1.08, a current ratio of 1.47 and a debt-to-equity ratio of 0.74.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 EPS for the quarter, topping the consensus estimate of $2.09 by $0.04. PPG Industries had a return on equity of 23.61% and a net margin of 6.35%.The business had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter last year, the firm posted $2.13 earnings per share. PPG Industries’s revenue was up 1.2% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Equities analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Friday, February 20th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, February 20th. PPG Industries’s dividend payout ratio is presently 64.40%.

Insider Transactions at PPG Industries

In other PPG Industries news, CFO Vincent J. Morales sold 5,200 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $110.00, for a total value of $572,000.00. Following the completion of the sale, the chief financial officer directly owned 28,439 shares of the company’s stock, valued at $3,128,290. The trade was a 15.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.33% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PPG shares. Berenberg Bank reduced their price objective on PPG Industries from $131.00 to $110.00 and set a “hold” rating on the stock in a research note on Thursday, December 4th. Bank of America decreased their price objective on shares of PPG Industries from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Citigroup lifted their price objective on shares of PPG Industries from $116.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. UBS Group lowered their price objective on PPG Industries from $115.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. Finally, JPMorgan Chase & Co. boosted their price objective on PPG Industries from $112.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, PPG Industries has an average rating of “Hold” and an average price target of $120.86.

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.