PPG Industries, Inc. $PPG Stake Decreased by HighTower Advisors LLC

HighTower Advisors LLC cut its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 11.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,840 shares of the specialty chemicals company’s stock after selling 8,985 shares during the period. HighTower Advisors LLC’s holdings in PPG Industries were worth $7,551,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in PPG Industries during the 2nd quarter valued at $362,412,000. Holocene Advisors LP grew its stake in shares of PPG Industries by 342.8% in the second quarter. Holocene Advisors LP now owns 1,688,870 shares of the specialty chemicals company’s stock worth $192,109,000 after purchasing an additional 1,307,468 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in 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 purchasing an additional 971,799 shares during the period. Burgundy Asset Management Ltd. acquired a new stake in PPG Industries in the second quarter worth about $93,719,000. Finally, State Street Corp grew its position in PPG Industries by 6.3% in the 2nd quarter. State Street Corp now owns 12,624,828 shares of the specialty chemicals company’s stock valued at $1,436,074,000 after buying an additional 749,081 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PPG Industries

In related news, CFO Vincent J. Morales sold 78,095 shares of PPG Industries stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $131.00, for a total value of $10,230,445.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Chancey E. Hagerty sold 2,250 shares of the company’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $115.59, for a total transaction of $260,077.50. Following the sale, the vice president directly owned 8,477 shares of the company’s stock, valued at $979,856.43. This represents a 20.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 115,217 shares of company stock worth $14,771,523 in the last three months. 0.33% of the stock is currently owned by company insiders.

PPG Industries Trading Up 1.9%

PPG Industries stock opened at $126.57 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.22 and a current ratio of 1.62. The firm has a market cap of $28.29 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 1.90 and a beta of 1.16. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $133.43. The firm’s 50 day moving average price is $113.06 and its two-hundred day moving average price is $107.10.

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). The company had revenue of $3.91 billion for 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%. PPG Industries’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the company posted $1.61 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, research analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Friday, February 20th will be given a $0.71 dividend. The ex-dividend date 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 40.92%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PPG. Evercore upped their price target on shares of PPG Industries from $112.00 to $128.00 in a research note on Wednesday, February 18th. JPMorgan Chase & Co. upped their target price on PPG Industries from $117.00 to $126.00 and gave the stock an “overweight” rating in a research report on Thursday, January 29th. Zacks Research raised PPG Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. Royal Bank Of Canada lifted their price target on PPG Industries from $109.00 to $115.00 and gave the company a “sector perform” rating in a research report on Thursday, January 29th. Finally, Berenberg Bank dropped 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. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $125.93.

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.