Assenagon Asset Management S.A. Buys 20,165 Shares of PPG Industries, Inc. $PPG

Assenagon Asset Management S.A. raised its stake in PPG Industries, Inc. (NYSE:PPG) by 24.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 104,110 shares of the specialty chemicals company’s stock after buying an additional 20,165 shares during the quarter. Assenagon Asset Management S.A.’s holdings in PPG Industries were worth $10,667,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Steigerwald Gordon & Koch Inc. bought a new stake in PPG Industries during the third quarter worth $26,000. Quarry LP bought a new position in shares of PPG Industries in the 3rd quarter valued at $26,000. Root Financial Partners LLC bought a new position in shares of PPG Industries in the 3rd quarter valued at $30,000. Quent Capital LLC acquired a new position in shares of PPG Industries during the 3rd quarter worth $57,000. Finally, Cornerstone Planning Group LLC raised its holdings in shares of PPG Industries by 2,500.0% during the 3rd quarter. Cornerstone Planning Group LLC now owns 572 shares of the specialty chemicals company’s stock worth $60,000 after buying an additional 550 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PPG. Wells Fargo & Company boosted their target price on PPG Industries from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, January 29th. Jefferies Financial Group raised their price objective on PPG Industries from $115.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, January 29th. BNP Paribas Exane cut their target price on PPG Industries from $113.00 to $112.00 and set a “neutral” rating on the stock in a report on Wednesday, January 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of PPG Industries in a research report on Wednesday, January 28th. Finally, Berenberg Bank decreased their target price on shares of PPG Industries from $131.00 to $110.00 and set a “hold” rating for the company in a research report on Thursday, December 4th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and a consensus price target of $124.07.

PPG Industries Price Performance

PPG stock opened at $103.87 on Friday. The firm has a 50 day moving average of $115.39 and a 200-day moving average of $106.96. The firm has a market capitalization of $23.25 billion, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 1.59 and a beta of 1.15. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $133.43. The company has a current ratio of 1.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.82.

PPG Industries (NYSE:PPG) last posted its earnings results 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 return on equity of 22.30% and a net margin of 9.93%.The firm had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the company posted $1.61 EPS. The business’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. As a group, sell-side analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Friday, February 20th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, February 20th. PPG Industries’s dividend payout ratio is currently 40.92%.

Insiders Place Their Bets

In other PPG Industries news, VP Anne M. Foulkes sold 3,594 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $124.61, for a total value of $447,848.34. Following the sale, the vice president owned 15,641 shares of the company’s stock, valued at $1,949,025.01. This trade represents a 18.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Chancey E. Hagerty sold 2,250 shares of PPG Industries stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $115.59, for a total transaction of $260,077.50. Following the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 118,811 shares of company stock worth $15,219,371 in the last ninety days. 0.33% of the stock is currently owned by insiders.

PPG Industries Company 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.