PPG Industries, Inc. $PPG Shares Acquired by VELA Investment Management LLC

VELA Investment Management LLC grew its position in shares of PPG Industries, Inc. (NYSE:PPG) by 171.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 12,361 shares of the specialty chemicals company’s stock after buying an additional 7,806 shares during the period. VELA Investment Management LLC’s holdings in PPG Industries were worth $1,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in PPG. Capital Advisors Ltd. LLC grew its position in PPG Industries by 127.6% during the second quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 125 shares during the period. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of PPG Industries during the 3rd quarter worth about $26,000. Root Financial Partners LLC purchased a new stake in shares of PPG Industries during the 3rd quarter worth about $30,000. Gladwyn Financial Advisors Inc. acquired a new stake in shares of PPG Industries during the 2nd quarter valued at about $31,000. Finally, Vermillion & White Wealth Management Group LLC increased its stake in shares of PPG Industries by 100.7% in the 2nd 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 in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Trading Up 3.2%

Shares of PPG opened at $112.45 on Thursday. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $124.74. The firm has a market capitalization of $25.23 billion, a P/E ratio of 25.50, a P/E/G ratio of 3.24 and a beta of 1.17. The firm has a 50-day moving average price of $102.72 and a 200 day moving average price of $105.69. The company has a current ratio of 1.47, a quick ratio of 1.08 and a debt-to-equity ratio of 0.74.

PPG Industries (NYSE:PPG) last posted its earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.04. The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.06 billion. PPG Industries had a net margin of 6.35% and a return on equity of 23.61%. PPG Industries’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.13 EPS. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Sell-side analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The firm 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 is Friday, February 20th. This represents a $2.84 dividend on an annualized basis and a yield of 2.5%. PPG Industries’s payout ratio is currently 64.40%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. BNP Paribas Exane dropped their price objective on PPG Industries from $113.00 to $112.00 and set a “neutral” rating on the stock in a report on Wednesday, January 14th. Evercore ISI decreased their price target on shares of PPG Industries from $145.00 to $112.00 and set an “in-line” rating on the stock in a research note on Tuesday, November 11th. Wells Fargo & Company reduced their target price on PPG Industries from $132.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Sanford C. Bernstein lowered their price target on PPG Industries from $129.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, November 24th. Finally, Zacks Research cut shares of PPG Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $120.86.

Insider Activity at PPG Industries

In other news, CFO Vincent J. Morales sold 5,200 shares of the stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $110.00, for a total transaction of $572,000.00. Following the completion of the transaction, the chief financial officer directly owned 28,439 shares in the company, valued at approximately $3,128,290. This represents a 15.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by company 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.