NewEdge Wealth LLC Buys New Position in PPG Industries, Inc. $PPG

NewEdge Wealth LLC acquired a new stake in PPG Industries, Inc. (NYSE:PPG) in the third quarter, Holdings Channel reports. The firm acquired 4,209 shares of the specialty chemicals company’s stock, valued at approximately $405,000.

Other hedge funds also recently added to or reduced their stakes in the company. Walnut Level Capital LLC boosted its holdings in PPG Industries by 46.8% in the second quarter. Walnut Level Capital LLC now owns 62,754 shares of the specialty chemicals company’s stock valued at $7,138,000 after purchasing an additional 20,000 shares during the period. GAM Holding AG raised its position in PPG Industries by 97.5% in the 3rd quarter. GAM Holding AG now owns 21,281 shares of the specialty chemicals company’s stock valued at $2,237,000 after purchasing an additional 10,508 shares in the last quarter. Rakuten Investment Management Inc. purchased a new position in shares of PPG Industries in the 3rd quarter valued at about $16,245,000. Empower Advisory Group LLC grew its position in shares of PPG Industries by 9.3% during the second quarter. Empower Advisory Group LLC now owns 77,252 shares of the specialty chemicals company’s stock worth $8,787,000 after buying an additional 6,559 shares in the last quarter. Finally, Strs Ohio grew its position in shares of PPG Industries by 30.1% during the third quarter. Strs Ohio now owns 125,434 shares of the specialty chemicals company’s stock worth $13,184,000 after buying an additional 29,031 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Trading Up 0.1%

NYSE PPG opened at $125.46 on Wednesday. The firm’s fifty day moving average price is $113.92 and its 200 day moving average price is $107.37. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $133.43. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.62 and a quick ratio of 1.22. The company has a market capitalization of $28.04 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 1.88 and a beta of 1.16.

PPG Industries (NYSE:PPG) last released its quarterly earnings data 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). The company had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.77 billion. PPG Industries had a net margin of 9.93% and a return on equity of 22.30%. The business’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.61 EPS. 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 fiscal year.

PPG Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Friday, February 20th will be given a dividend of $0.71 per share. 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 payout ratio is 40.92%.

Insider Buying and Selling at PPG Industries

In related news, VP Anne M. Foulkes sold 3,594 shares of the company’s stock in a transaction on Friday, February 20th. The shares were sold at an average price of $124.61, for a total value of $447,848.34. Following the completion of the sale, the vice president owned 15,641 shares in the company, valued at $1,949,025.01. This represents a 18.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vincent J. Morales sold 78,095 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $131.00, for a total transaction of $10,230,445.00. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 118,811 shares of company stock worth $15,219,371. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PPG. Berenberg Bank decreased their price target on shares of PPG Industries from $131.00 to $110.00 and set a “hold” rating for the company in a research note on Thursday, December 4th. Zacks Research upgraded shares of PPG Industries from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. Wells Fargo & Company boosted their target price on shares of PPG Industries from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, January 29th. KeyCorp reissued a “sector weight” rating on shares of PPG Industries in a report on Thursday, January 29th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PPG Industries in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $125.93.

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.