Andra AP fonden Sells 17,356 Shares of PPG Industries, Inc. $PPG

Andra AP fonden decreased its holdings in PPG Industries, Inc. (NYSE:PPG) by 80.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 4,128 shares of the specialty chemicals company’s stock after selling 17,356 shares during the period. Andra AP fonden’s holdings in PPG Industries were worth $434,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of PPG Industries in the second quarter worth approximately $362,412,000. Holocene Advisors LP boosted its holdings in PPG Industries by 342.8% in the second quarter. Holocene Advisors LP now owns 1,688,870 shares of the specialty chemicals company’s stock worth $192,109,000 after purchasing an additional 1,307,468 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in PPG Industries by 21.2% in the second 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 during the last quarter. Burgundy Asset Management Ltd. bought a new stake in PPG Industries in the 2nd quarter worth approximately $93,719,000. Finally, State Street Corp raised its stake 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 during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Down 0.3%

NYSE PPG opened at $123.15 on Monday. The stock’s 50-day moving average price is $115.12 and its 200-day moving average price is $107.66. The company has a quick ratio of 1.22, a current ratio of 1.62 and a debt-to-equity ratio of 0.82. PPG Industries, Inc. has a 52 week low of $90.24 and a 52 week high of $133.43. The company has a market capitalization of $27.52 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 1.85 and a beta of 1.15.

PPG Industries (NYSE:PPG) last released its earnings results on Tuesday, January 27th. The specialty chemicals company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.06). PPG Industries had a return on equity of 22.30% and a net margin of 9.93%.The firm had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the company posted $1.61 earnings per share. The company’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, equities research 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.3%. PPG Industries’s dividend payout ratio is 40.92%.

Insider Activity

In related news, VP Anne M. Foulkes sold 3,594 shares of PPG Industries stock in a transaction on Friday, February 20th. The shares were sold at an average price of $124.61, for a total transaction of $447,848.34. Following the transaction, the vice president owned 15,641 shares in the company, valued at approximately $1,949,025.01. The trade was a 18.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Chancey E. Hagerty sold 2,250 shares of the company’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $115.59, for a total transaction of $260,077.50. Following the completion of the transaction, the vice president directly owned 8,477 shares of the company’s stock, valued at $979,856.43. This represents a 20.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 118,811 shares of company stock worth $15,219,371 in the last three months. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

PPG has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on PPG Industries from $117.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, January 29th. Evercore increased their target price on PPG Industries from $112.00 to $128.00 in a report on Wednesday, February 18th. Bank of America cut their price target 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. Royal Bank Of Canada upped their price target on shares of PPG Industries from $109.00 to $115.00 and gave the company a “sector perform” rating in a research report on Thursday, January 29th. Finally, KeyCorp reissued a “sector weight” rating on shares of PPG Industries in a report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, PPG Industries presently has a consensus rating of “Hold” and an average target price of $125.93.

About PPG Industries

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.