PNC Financial Services Group Inc. Sells 39,452 Shares of PPG Industries, Inc. $PPG

PNC Financial Services Group Inc. decreased its holdings in PPG Industries, Inc. (NYSE:PPG) by 4.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 888,103 shares of the specialty chemicals company’s stock after selling 39,452 shares during the period. PNC Financial Services Group Inc. owned about 0.40% of PPG Industries worth $93,348,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Steigerwald Gordon & Koch Inc. bought a new stake in PPG Industries in the 3rd quarter valued at $26,000. Gladwyn Financial Advisors Inc. acquired a new position in shares of PPG Industries in the second quarter valued at $31,000. Vermillion & White Wealth Management Group LLC increased its holdings in shares of PPG Industries by 100.7% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 273 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 137 shares during the last quarter. Rothschild Investment LLC lifted its stake in shares of 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 during the last quarter. Finally, Root Financial Partners LLC bought a new stake in shares of PPG Industries during the 3rd quarter worth about $30,000. 81.86% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Vincent J. Morales sold 29,672 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $125.00, for a total value of $3,709,000.00. Following the completion of the transaction, the chief financial officer owned 28,439 shares of the company’s stock, valued at approximately $3,554,875. This represents a 51.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Chancey E. Hagerty sold 2,250 shares of the firm’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 transaction 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. Insiders have sold a total of 37,122 shares of company stock valued at $4,541,078 in the last three months. 0.33% of the stock is owned by insiders.

PPG Industries Trading Down 0.2%

PPG opened at $131.26 on Monday. The stock has a market capitalization of $29.45 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 1.97 and a beta of 1.16. The company has a quick ratio of 1.08, a current ratio of 1.47 and a debt-to-equity ratio of 0.74. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $133.43. The company has a 50-day simple moving average of $110.40 and a 200 day simple moving average of $106.31.

PPG Industries (NYSE:PPG) last issued its earnings results 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 firm had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the previous year, the firm posted $1.61 earnings per share. PPG Industries’s quarterly 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. Analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm 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 $0.71 dividend. The ex-dividend date is Friday, February 20th. This represents a $2.84 annualized dividend and a dividend yield of 2.2%. PPG Industries’s dividend payout ratio (DPR) is presently 40.92%.

Analysts Set New Price Targets

Several research analysts have weighed in on PPG shares. BNP Paribas Exane lowered their price target on shares of PPG Industries from $113.00 to $112.00 and set a “neutral” rating on the stock in a report on Wednesday, January 14th. KeyCorp reissued a “sector weight” rating on shares of PPG Industries in a report on Thursday, January 29th. Weiss Ratings reissued a “hold (c-)” rating on shares of PPG Industries in a report on Wednesday, January 28th. Sanford C. Bernstein boosted their target price on shares of PPG Industries from $123.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Finally, Citigroup raised their price target on shares of PPG Industries from $127.00 to $132.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. One equities research 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $124.79.

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.