Cullen Capital Management LLC Sells 6,266 Shares of PPG Industries, Inc. $PPG

Cullen Capital Management LLC decreased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 1.5% during the third quarter, Holdings Channel reports. The institutional investor owned 405,491 shares of the specialty chemicals company’s stock after selling 6,266 shares during the period. Cullen Capital Management LLC’s holdings in PPG Industries were worth $42,621,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Norges Bank bought a new position in shares of PPG Industries in the second quarter worth about $362,412,000. Holocene Advisors LP raised its stake in PPG Industries by 342.8% during the 2nd quarter. Holocene Advisors LP now owns 1,688,870 shares of the specialty chemicals company’s stock valued at $192,109,000 after purchasing an additional 1,307,468 shares during the period. First Eagle Investment Management LLC lifted its holdings in PPG Industries by 21.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 5,560,280 shares of the specialty chemicals company’s stock worth $632,482,000 after purchasing an additional 971,799 shares in the last quarter. Burgundy Asset Management Ltd. bought a new position in PPG Industries in the 2nd quarter worth approximately $93,719,000. Finally, State Street Corp grew its holdings in PPG Industries by 6.3% during the 2nd quarter. State Street Corp now owns 12,624,828 shares of the specialty chemicals company’s stock valued at $1,436,074,000 after buying an additional 749,081 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PPG shares. Wells Fargo & Company upped their target price on shares of PPG Industries from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, January 29th. Royal Bank Of Canada boosted their price target on shares of PPG Industries from $109.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 29th. Sanford C. Bernstein raised their price objective on PPG Industries from $123.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. The Goldman Sachs Group lifted their target price on PPG Industries from $118.00 to $132.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Finally, Zacks Research raised PPG Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, PPG Industries currently has a consensus rating of “Hold” and an average target price of $123.71.

Insider Activity 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 transaction of $572,000.00. Following the transaction, the chief financial officer owned 28,439 shares of the company’s stock, valued at approximately $3,128,290. This represents a 15.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Chancey E. Hagerty sold 2,250 shares of the stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $115.59, for a total value of $260,077.50. Following the completion of the sale, the vice president owned 8,477 shares in the company, valued at approximately $979,856.43. The trade was a 20.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.33% of the stock is owned by insiders.

PPG Industries Stock Performance

NYSE PPG opened at $125.86 on Thursday. The business’s 50 day moving average price is $106.44 and its 200-day moving average price is $105.63. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $126.04. The company has a market cap of $28.24 billion, a P/E ratio of 18.14, a P/E/G ratio of 1.79 and a beta of 1.16. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.47.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, January 27th. The specialty chemicals company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.06). PPG Industries had a net margin of 9.93% and a return on equity of 22.67%. The firm had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same quarter last year, the firm earned $1.61 EPS. The company’s revenue was up 5.0% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Sell-side analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Friday, February 20th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, February 20th. This represents a $2.84 annualized dividend and a yield of 2.3%. PPG Industries’s dividend payout ratio (DPR) is presently 40.92%.

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.