First Trust Advisors LP Cuts Stock Position in PPG Industries, Inc. $PPG

First Trust Advisors LP cut its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 74.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 571,467 shares of the specialty chemicals company’s stock after selling 1,668,230 shares during the period. First Trust Advisors LP owned about 0.25% of PPG Industries worth $60,067,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Steigerwald Gordon & Koch Inc. acquired a new position in shares of PPG Industries during the 3rd quarter worth about $26,000. Root Financial Partners LLC acquired a new stake in PPG Industries in the 3rd quarter worth about $30,000. Vermillion & White Wealth Management Group LLC boosted its holdings in PPG Industries by 100.7% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 273 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 137 shares during the last quarter. Rothschild Investment LLC increased its stake in PPG Industries by 184.0% during the 2nd quarter. Rothschild Investment LLC now owns 284 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 184 shares in the last quarter. Finally, Addison Advisors LLC increased its stake in PPG Industries by 1,515.8% during the 2nd quarter. Addison Advisors LLC now owns 307 shares of the specialty chemicals company’s stock worth $35,000 after buying an additional 288 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PPG has been the topic of several research reports. UBS Group raised their target price on PPG Industries from $110.00 to $122.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Royal Bank Of Canada boosted their price target on PPG Industries from $109.00 to $115.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 29th. The Goldman Sachs Group raised their price objective on PPG Industries from $118.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, January 29th. BNP Paribas Exane lowered their target price on shares of PPG Industries from $113.00 to $112.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 14th. Finally, Evercore upped their target price on shares of PPG Industries from $112.00 to $128.00 in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $125.93.

PPG Industries Price Performance

PPG stock opened at $105.84 on Wednesday. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $133.43. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.62 and a quick ratio of 1.22. The firm has a market capitalization of $23.69 billion, a PE ratio of 15.25, a price-to-earnings-growth ratio of 1.63 and a beta of 1.15. The business has a 50 day simple moving average of $116.37 and a 200-day simple moving average of $107.68.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data 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). The company had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.77 billion. PPG Industries had a return on equity of 22.30% and a net margin of 9.93%.The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.61 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Equities research analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The business 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 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, February 20th. PPG Industries’s payout ratio is currently 40.92%.

Insider Activity

In other news, VP Chancey E. Hagerty sold 2,250 shares of the business’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $115.59, for a total transaction of $260,077.50. Following the transaction, the vice president owned 8,477 shares of the company’s stock, valued at approximately $979,856.43. The trade was a 20.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Anne M. Foulkes sold 3,594 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $124.61, for a total transaction of $447,848.34. Following the completion of the sale, the vice president directly owned 15,641 shares of the company’s stock, valued at $1,949,025.01. This represents a 18.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 118,811 shares of company stock valued at $15,219,371. 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.