PPG Industries, Inc. $PPG Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. cut its stake in PPG Industries, Inc. (NYSE:PPG) by 51.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,952 shares of the specialty chemicals company’s stock after selling 5,297 shares during the period. QRG Capital Management Inc.’s holdings in PPG Industries were worth $520,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. 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 position in PPG Industries in the third quarter worth about $26,000. Gladwyn Financial Advisors Inc. acquired a new position in PPG Industries in the second quarter worth about $31,000. Vermillion & White Wealth Management Group LLC increased its holdings in PPG Industries by 100.7% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 273 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 137 shares during the last quarter. Finally, Rothschild Investment LLC raised 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 valued at $32,000 after buying an additional 184 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

PPG Industries Stock Performance

PPG stock opened at $113.81 on Friday. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $124.74. The stock has a market capitalization of $25.54 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 3.33 and a beta of 1.17. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.47. The stock’s fifty day moving average is $103.03 and its two-hundred day moving average is $105.74.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 EPS for the quarter, topping the consensus estimate of $2.09 by $0.04. The business had revenue of $4.08 billion during 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%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.13 earnings per share. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. On average, research analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

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

Insider Activity

In related news, CFO Vincent J. Morales sold 5,200 shares of the stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $110.00, for a total value of $572,000.00. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on PPG shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of PPG Industries in a research report on Friday, October 31st. Citigroup raised their price objective on PPG Industries from $116.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Berenberg Bank decreased their price objective on shares of PPG Industries from $131.00 to $110.00 and set a “hold” rating for the company in a report on Thursday, December 4th. Evercore ISI dropped 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. Finally, Sanford C. Bernstein decreased their price target on shares of PPG Industries from $129.00 to $123.00 and set an “outperform” rating for the company in a report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently 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.