PPG Industries, Inc. $PPG Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lessened its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 62.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 8,841 shares of the specialty chemicals company’s stock after selling 14,516 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in PPG Industries were worth $929,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PPG. Vanguard Group Inc. increased its stake in PPG Industries by 0.7% in the 2nd 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 increased its position in shares of PPG Industries by 6.3% in the second quarter. State Street Corp now owns 12,624,828 shares of the specialty chemicals company’s stock worth $1,436,074,000 after acquiring an additional 749,081 shares in the last quarter. First Eagle Investment Management LLC increased its position in shares of PPG Industries by 21.2% in the second quarter. First Eagle Investment Management LLC now owns 5,560,280 shares of the specialty chemicals company’s stock worth $632,482,000 after acquiring an additional 971,799 shares in the last quarter. Norges Bank acquired a new stake in shares of PPG Industries during the second quarter valued at approximately $362,412,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of PPG Industries by 1.5% in the 2nd 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 in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Chancey E. Hagerty sold 2,250 shares of the firm’s stock in a transaction 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 transaction, the vice president directly owned 8,477 shares in the company, valued at approximately $979,856.43. This trade represents a 20.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Vincent J. Morales sold 29,672 shares of PPG Industries stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $125.00, for a total transaction of $3,709,000.00. Following the completion of the transaction, the chief financial officer owned 28,439 shares in the company, valued at $3,554,875. This trade represents a 51.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 37,122 shares of company stock valued at $4,541,078 over the last 90 days. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PPG. Royal Bank Of Canada lifted their price objective on shares of PPG Industries from $109.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 29th. Jefferies Financial Group lifted their price target on PPG Industries from $115.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, January 29th. Mizuho increased their price objective on PPG Industries from $118.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 28th. Zacks Research raised PPG Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. Finally, Berenberg Bank dropped their target price on PPG Industries from $131.00 to $110.00 and set a “hold” rating on the stock in a report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, PPG Industries presently has a consensus rating of “Hold” and an average price target of $123.71.

PPG Industries Price Performance

PPG opened at $126.63 on Monday. The stock has a fifty day moving average price of $107.46 and a 200 day moving average price of $105.70. The company has a current ratio of 1.47, a quick ratio of 1.08 and a debt-to-equity ratio of 0.74. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $126.74. The stock has a market cap of $28.42 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 1.90 and a beta of 1.16.

PPG Industries (NYSE:PPG) last posted 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). The firm had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.77 billion. PPG Industries had a return on equity of 22.67% and a net margin of 9.93%.The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period last year, the business earned $1.61 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 20th will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, February 20th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.2%. PPG Industries’s dividend payout ratio (DPR) is currently 40.92%.

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.