PPG Industries, Inc. $PPG Shares Sold by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB cut its position in PPG Industries, Inc. (NYSE:PPG) by 26.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,996 shares of the specialty chemicals company’s stock after selling 10,856 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in PPG Industries were worth $3,153,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in PPG. Brighton Jones LLC boosted its holdings in PPG Industries by 9.1% in the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock valued at $487,000 after purchasing an additional 339 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in shares of PPG Industries by 31.4% during the first quarter. Integrated Wealth Concepts LLC now owns 3,849 shares of the specialty chemicals company’s stock worth $421,000 after buying an additional 920 shares during the last quarter. Empowered Funds LLC grew its stake in shares of PPG Industries by 6.1% in the 1st quarter. Empowered Funds LLC now owns 26,354 shares of the specialty chemicals company’s stock valued at $2,882,000 after purchasing an additional 1,526 shares during the last quarter. Woodline Partners LP lifted its position in PPG Industries by 40.7% in the first quarter. Woodline Partners LP now owns 19,600 shares of the specialty chemicals company’s stock valued at $2,143,000 after purchasing an additional 5,667 shares during the period. Finally, Aaron Wealth Advisors LLC acquired a new stake in PPG Industries in the second quarter valued at $229,000. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

PPG Industries Trading Up 0.3%

PPG Industries stock opened at $110.39 on Friday. The firm has a 50-day moving average price of $101.86 and a two-hundred day moving average price of $105.92. The firm has a market capitalization of $24.77 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 3.27 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, Inc. has a 52-week low of $90.24 and a 52-week high of $124.74.

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

PPG Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Friday, February 20th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, February 20th. PPG Industries’s dividend payout ratio is presently 64.40%.

Insider Buying and Selling

In other news, CFO Vincent J. Morales sold 5,200 shares of the stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $110.00, for a total value of $572,000.00. Following the transaction, the chief financial officer directly owned 28,439 shares of the company’s stock, valued at $3,128,290. This represents a 15.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on PPG. Berenberg Bank cut their price target on PPG Industries from $131.00 to $110.00 and set a “hold” rating for the company in a research note on Thursday, December 4th. JPMorgan Chase & Co. upped their target price on PPG Industries from $112.00 to $117.00 and gave the company an “overweight” rating in a research note on Friday, November 21st. Sanford C. Bernstein cut their price target on PPG Industries from $129.00 to $123.00 and set an “outperform” rating for the company in a report on Monday, November 24th. Citigroup lifted their price objective on PPG Industries from $116.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Finally, Bank of America lowered their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $120.86.

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.