South Dakota Investment Council Sells 4,900 Shares of PPG Industries, Inc. $PPG

South Dakota Investment Council cut its position in PPG Industries, Inc. (NYSE:PPG) by 6.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,654 shares of the specialty chemicals company’s stock after selling 4,900 shares during the period. South Dakota Investment Council’s holdings in PPG Industries were worth $7,847,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Walnut Level Capital LLC increased its position in shares of PPG Industries by 46.8% during the second quarter. Walnut Level Capital LLC now owns 62,754 shares of the specialty chemicals company’s stock valued at $7,138,000 after acquiring an additional 20,000 shares during the last quarter. GAM Holding AG lifted its holdings in PPG Industries by 97.5% during the third quarter. GAM Holding AG now owns 21,281 shares of the specialty chemicals company’s stock valued at $2,237,000 after purchasing an additional 10,508 shares during the last quarter. Rakuten Investment Management Inc. bought a new position in PPG Industries in the 3rd quarter worth approximately $16,245,000. Empower Advisory Group LLC grew its position in shares of PPG Industries by 9.3% in the second quarter. Empower Advisory Group LLC now owns 77,252 shares of the specialty chemicals company’s stock valued at $8,787,000 after purchasing an additional 6,559 shares in the last quarter. Finally, Strs Ohio grew its holdings in PPG Industries by 30.1% during the 3rd quarter. Strs Ohio now owns 125,434 shares of the specialty chemicals company’s stock valued at $13,184,000 after buying an additional 29,031 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on PPG. Berenberg Bank decreased their price target on shares of PPG Industries from $131.00 to $110.00 and set a “hold” rating on the stock in a report on Thursday, December 4th. JPMorgan Chase & Co. lifted their price target on shares of PPG Industries from $117.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, January 29th. Bank of America lowered their target price on PPG Industries from $118.00 to $116.00 and set a “neutral” rating for the company in a research note on Thursday, January 8th. Zacks Research upgraded shares of PPG Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. Finally, UBS Group upped their target price on PPG Industries from $110.00 to $122.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $125.93.

PPG Industries Trading Down 0.8%

Shares of NYSE PPG opened at $118.29 on Wednesday. The firm’s 50 day moving average price is $115.75 and its 200-day moving average price is $107.76. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.22 and a current ratio of 1.62. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $133.43. The company has a market cap of $26.44 billion, a PE ratio of 17.04, a P/E/G ratio of 1.79 and a beta of 1.15.

PPG Industries (NYSE:PPG) last posted its earnings results 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). PPG Industries had a return on equity of 22.30% and a net margin of 9.93%.The business had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period in the previous year, the business posted $1.61 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, equities research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Friday, February 20th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, February 20th. PPG Industries’s dividend payout ratio is 40.92%.

Insider Activity

In related news, CFO Vincent J. Morales sold 78,095 shares of PPG Industries stock in a transaction on Friday, February 13th. The stock was sold at an average price of $131.00, for a total transaction of $10,230,445.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Anne M. Foulkes sold 3,594 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $124.61, for a total value of $447,848.34. Following the transaction, the vice president owned 15,641 shares of the company’s stock, valued at approximately $1,949,025.01. This trade represents a 18.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 118,811 shares of company stock valued at $15,219,371 in the last quarter. 0.33% of the stock is currently owned by insiders.

PPG Industries 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.