PPG Industries, Inc. (NYSE:PPG - Get Free Report) VP Chancey Hagerty sold 2,250 shares of the business's stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $115.59, for a total value of $260,077.50. Following the transaction, the vice president owned 8,477 shares of the company's stock, valued at $979,856.43. This trade represents a 20.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
PPG Industries Trading Up 0.8%
Shares of NYSE PPG opened at $116.57 on Tuesday. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $120.91. 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 company has a market cap of $26.16 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.73 and a beta of 1.17. The business's 50 day moving average price is $105.52 and its 200-day moving average price is $105.46.
PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data on Tuesday, January 27th. The specialty chemicals company reported $1.51 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.06). PPG Industries had a net margin of 9.93% and a return on equity of 22.67%. The business had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the company earned $1.61 EPS. The business's revenue was up 5.0% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, sell-side analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current 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 paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, February 20th. PPG Industries's payout ratio is currently 40.92%.
Institutional Trading of PPG Industries
A number of institutional investors have recently modified their holdings of the company. Walnut Level Capital LLC boosted its position in 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 worth $7,138,000 after acquiring an additional 20,000 shares during the last quarter. GAM Holding AG boosted its holdings in shares of PPG Industries by 97.5% during the 3rd quarter. GAM Holding AG now owns 21,281 shares of the specialty chemicals company's stock worth $2,237,000 after purchasing an additional 10,508 shares during the last quarter. Vest Financial LLC grew its position in shares of PPG Industries by 17.4% in the second quarter. Vest Financial LLC now owns 526,269 shares of the specialty chemicals company's stock valued at $59,863,000 after purchasing an additional 78,022 shares in the last quarter. Columbia Advisory Partners LLC acquired a new stake in shares of PPG Industries in the second quarter valued at approximately $318,000. Finally, Empower Advisory Group LLC increased its holdings 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 during the last quarter. 81.86% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
PPG has been the topic of several research reports. BNP Paribas Exane reduced their price objective on PPG Industries from $113.00 to $112.00 and set a "neutral" rating on the stock in a report on Wednesday, January 14th. Sanford C. Bernstein raised their price target on PPG Industries from $123.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday. UBS Group lifted their price objective on PPG Industries from $110.00 to $122.00 and gave the company a "neutral" rating in a report on Thursday, January 29th. Citigroup increased their target price on shares of PPG Industries from $127.00 to $132.00 and gave the stock a "buy" rating in a report on Thursday, January 29th. Finally, Wells Fargo & Company boosted their price target on shares of PPG Industries from $130.00 to $135.00 and gave the company an "overweight" 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 given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $123.71.
Read Our Latest Stock Analysis on PPG
About PPG Industries
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
