PPG Industries, Inc. $PPG Shares Sold by Vest Financial LLC

Vest Financial LLC cut its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 9.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 476,717 shares of the specialty chemicals company’s stock after selling 49,552 shares during the quarter. Vest Financial LLC’s holdings in PPG Industries were worth $50,108,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC grew its holdings in PPG Industries by 127.6% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 125 shares in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new stake in PPG Industries in the third quarter valued at $26,000. Gladwyn Financial Advisors Inc. purchased a new stake in PPG Industries during the 2nd quarter worth about $31,000. Vermillion & White Wealth Management Group LLC raised its position in shares of PPG Industries by 100.7% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 273 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 137 shares in the last quarter. Finally, Rothschild Investment LLC lifted its stake in PPG Industries by 184.0% during the second quarter. Rothschild Investment LLC now owns 284 shares of the specialty chemicals company’s stock worth $32,000 after purchasing an additional 184 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

PPG Industries Stock Performance

NYSE:PPG opened at $111.10 on Wednesday. The firm’s fifty day simple moving average is $102.41 and its 200 day simple moving average is $105.64. 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 twelve month low of $90.24 and a twelve month high of $124.74. The firm has a market capitalization of $24.93 billion, a price-to-earnings ratio of 25.15, a PEG ratio of 3.28 and a beta of 1.17.

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

PPG Industries Dividend Announcement

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

Insider Buying and Selling

In other news, CFO Vincent J. Morales sold 5,200 shares of PPG Industries stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $110.00, for a total transaction of $572,000.00. Following the sale, the chief financial officer directly owned 28,439 shares of the company’s stock, valued at approximately $3,128,290. The trade was a 15.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PPG. Mizuho dropped their target price on PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. JPMorgan Chase & Co. lifted 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. Evercore ISI reduced their target price on shares of PPG Industries from $145.00 to $112.00 and set an “in-line” rating on the stock in a report on Tuesday, November 11th. Citigroup boosted their price objective on shares of PPG Industries from $116.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Finally, BNP Paribas Exane cut their price target on PPG Industries from $113.00 to $112.00 and set a “neutral” rating for the company in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus 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.