Blackhawk Capital Partners LLC Buys Shares of 8,631 PPG Industries, Inc. $PPG

Blackhawk Capital Partners LLC purchased 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 institutional investor purchased 8,631 shares of the specialty chemicals company’s stock, valued at approximately $907,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of PPG Industries by 0.7% in the second quarter. Vanguard Group Inc. now owns 29,265,369 shares of the specialty chemicals company’s stock worth $3,328,936,000 after purchasing an additional 192,560 shares in the last quarter. State Street Corp lifted its position in PPG Industries by 6.3% during the 2nd quarter. State Street Corp now owns 12,624,828 shares of the specialty chemicals company’s stock worth $1,436,074,000 after buying an additional 749,081 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in shares of PPG Industries by 21.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 5,560,280 shares of the specialty chemicals company’s stock worth $632,482,000 after buying an additional 971,799 shares during the last quarter. Norges Bank bought a new position in shares of PPG Industries in the 2nd quarter valued at about $362,412,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of PPG Industries by 1.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,775,676 shares of the specialty chemicals company’s stock valued at $315,734,000 after acquiring an additional 41,406 shares during the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other PPG Industries news, CFO Vincent J. Morales sold 5,200 shares of the stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $110.00, for a total transaction of $572,000.00. Following the transaction, the chief financial officer owned 28,439 shares in the company, valued at $3,128,290. This trade represents a 15.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Evercore ISI decreased their price target on PPG Industries from $145.00 to $112.00 and set an “in-line” rating for the company in a research note on Tuesday, November 11th. Wells Fargo & Company decreased their target price on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Mizuho dropped their price target on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. Zacks Research downgraded shares of PPG Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, November 10th. Finally, Bank of America dropped their target price on shares of PPG Industries from $118.00 to $116.00 and set a “neutral” rating on the stock in a report on Thursday, January 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $120.86.

PPG Industries Price Performance

Shares of PPG opened at $112.20 on Friday. The company’s 50-day moving average is $103.33 and its 200-day moving average is $105.72. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.08. The firm has a market capitalization of $25.18 billion, a PE ratio of 25.44, a PEG ratio of 3.37 and a beta of 1.17. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $124.74.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.04. The business had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.06 billion. PPG Industries had a net margin of 6.35% and a return on equity of 23.61%. PPG Industries’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.13 EPS. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Equities analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

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

About PPG Industries

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.