Interval Partners LP Has $23.66 Million Position in PPG Industries, Inc. $PPG

Interval Partners LP lessened its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 79.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 225,119 shares of the specialty chemicals company’s stock after selling 847,044 shares during the period. Interval Partners LP’s holdings in PPG Industries were worth $23,662,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PPG. Vanguard Group Inc. lifted its stake in PPG Industries by 0.7% in the second quarter. Vanguard Group Inc. now owns 29,265,369 shares of the specialty chemicals company’s stock valued at $3,328,936,000 after buying an additional 192,560 shares in the last quarter. Wellington Management Group LLP lifted its position in PPG Industries by 19.9% in the 3rd quarter. Wellington Management Group LLP now owns 15,159,770 shares of the specialty chemicals company’s stock valued at $1,593,443,000 after acquiring an additional 2,521,004 shares in the last quarter. State Street Corp boosted its stake in PPG Industries by 6.3% in the 2nd quarter. State Street Corp now owns 12,624,828 shares of the specialty chemicals company’s stock worth $1,436,074,000 after purchasing an additional 749,081 shares during the period. First Eagle Investment Management LLC increased its holdings in PPG Industries by 12.7% during the 3rd quarter. First Eagle Investment Management LLC now owns 6,263,829 shares of the specialty chemicals company’s stock worth $658,391,000 after purchasing an additional 703,549 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in PPG Industries by 39.4% during the 3rd quarter. Franklin Resources Inc. now owns 4,695,477 shares of the specialty chemicals company’s stock worth $493,542,000 after purchasing an additional 1,326,619 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Stock Up 1.1%

NYSE:PPG opened at $101.88 on Friday. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $133.43. The firm has a market capitalization of $22.80 billion, a price-to-earnings ratio of 14.68, a price-to-earnings-growth ratio of 1.52 and a beta of 1.15. The company has a quick ratio of 1.22, a current ratio of 1.62 and a debt-to-equity ratio of 0.82. The stock’s 50 day moving average price is $116.33 and its two-hundred day moving average price is $107.54.

PPG Industries (NYSE:PPG) last released its quarterly earnings data 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 22.30%. The company had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same period in the previous year, the company posted $1.61 EPS. The company’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. Equities research 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 was paid on Thursday, March 12th. Shareholders of record on Friday, February 20th were paid a $0.71 dividend. The ex-dividend date was Friday, February 20th. This represents a $2.84 dividend on an annualized basis and a yield of 2.8%. PPG Industries’s dividend payout ratio (DPR) is currently 40.92%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PPG Industries in a research report on Wednesday, January 28th. Sanford C. Bernstein boosted their target price on PPG Industries from $123.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. raised their price target on shares of PPG Industries from $117.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, January 29th. Jefferies Financial Group boosted their price objective on shares of PPG Industries from $115.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, January 29th. Finally, Berenberg Bank lowered their price target on shares of PPG Industries from $131.00 to $110.00 and set a “hold” rating on the stock in a research note on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $125.93.

Insider Activity

In other news, CFO Vincent J. Morales sold 78,095 shares of the company’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $131.00, for a total value of $10,230,445.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Chancey E. Hagerty sold 2,250 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $979,856.43. This trade represents a 20.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 118,811 shares of company stock valued at $15,219,371 in the last quarter. Company insiders own 0.33% of the company’s stock.

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.