Wilmington Savings Fund Society FSB Decreases Stock Holdings in PPG Industries, Inc. $PPG

Wilmington Savings Fund Society FSB decreased its position in PPG Industries, Inc. (NYSE:PPG) by 26.6% during the third quarter, Holdings Channel.com reports. The fund 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PPG. Capital Advisors Ltd. LLC grew its position in PPG Industries by 127.6% during the second quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 125 shares during the period. Steigerwald Gordon & Koch Inc. purchased a new position in shares of PPG Industries during the 3rd quarter valued at $26,000. Gladwyn Financial Advisors Inc. purchased a new stake in PPG Industries in the 2nd quarter worth $31,000. Vermillion & White Wealth Management Group LLC raised its holdings in PPG Industries by 100.7% during 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 acquiring an additional 137 shares during the period. Finally, Rothschild Investment LLC lifted its position in shares of PPG Industries by 184.0% in the second quarter. Rothschild Investment LLC now owns 284 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 184 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Insider Buying and Selling at PPG Industries

In other news, CFO Vincent J. Morales sold 5,200 shares of the company’s 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 sale, the chief financial officer directly owned 28,439 shares in the company, valued at $3,128,290. This represents a 15.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PPG. Citigroup boosted 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. UBS Group cut their target price on PPG Industries from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. Mizuho lowered their price target on PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Wells Fargo & Company reduced their target price on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Finally, Bank of America dropped their price target on shares of PPG Industries from $118.00 to $116.00 and set a “neutral” rating for the company in a research note 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 issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $120.86.

PPG Industries Trading Up 0.3%

PPG Industries stock opened at $110.39 on Friday. The stock has a 50-day moving average price of $101.86 and a 200 day moving average price of $105.92. The company has a market capitalization of $24.77 billion, a price-to-earnings ratio of 25.03, a price-to-earnings-growth 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 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. PPG Industries had a net margin of 6.35% and a return on equity of 23.61%. The business had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter last year, the company earned $2.13 EPS. The business’s revenue was up 1.2% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

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

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.