PPG Industries, Inc. $PPG Shares Sold by State Farm Mutual Automobile Insurance Co.

State Farm Mutual Automobile Insurance Co. reduced its position in shares of PPG Industries, Inc. (NYSE:PPG) by 51.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,535 shares of the specialty chemicals company’s stock after selling 88,387 shares during the period. State Farm Mutual Automobile Insurance Co.’s holdings in PPG Industries were worth $8,675,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of PPG Industries during the second quarter worth approximately $362,412,000. Holocene Advisors LP raised its position in shares of 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 valued at $192,109,000 after buying an additional 1,307,468 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in shares of 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 buying an additional 971,799 shares in the last quarter. Burgundy Asset Management Ltd. acquired a new position in PPG Industries during the second quarter worth about $93,719,000. Finally, State Street Corp grew 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 acquiring an additional 749,081 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Performance

NYSE PPG opened at $119.15 on Tuesday. The stock has a market cap of $26.63 billion, a PE ratio of 17.17, a P/E/G ratio of 1.85 and a beta of 1.15. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $133.43. The stock has a fifty day simple moving average of $115.44 and a 200-day simple moving average of $107.71. 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 announced its earnings results on Tuesday, January 27th. The specialty chemicals company reported $1.51 earnings per share 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 company had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same period last year, the business earned $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 analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Friday, February 20th will be given 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 yield of 2.4%. PPG Industries’s payout ratio is presently 40.92%.

Wall Street Analysts Forecast Growth

PPG has been the topic of several recent research reports. JPMorgan Chase & Co. boosted their target price on PPG Industries from $117.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, January 29th. Citigroup boosted their price objective on PPG Industries from $127.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Mizuho upped their target price on PPG Industries from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. The Goldman Sachs Group lifted their price target on PPG Industries from $118.00 to $132.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Finally, Sanford C. Bernstein upped their price objective on shares of PPG Industries from $123.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $125.93.

Insider Buying and Selling at PPG Industries

In related news, VP Anne M. Foulkes sold 3,594 shares of the business’s stock in a transaction on 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 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 hyperlink. Also, CFO Vincent J. Morales sold 78,095 shares of the stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $131.00, for a total value of $10,230,445.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 118,811 shares of company stock valued at $15,219,371 over the last quarter. 0.33% of the stock is owned by company insiders.

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.