Varma Mutual Pension Insurance Co Buys 9,700 Shares of PPG Industries, Inc. $PPG

Varma Mutual Pension Insurance Co lifted its position in PPG Industries, Inc. (NYSE:PPG) by 8.5% during the 3rd quarter, Holdings Channel reports. The firm owned 123,186 shares of the specialty chemicals company’s stock after acquiring an additional 9,700 shares during the period. Varma Mutual Pension Insurance Co’s holdings in PPG Industries were worth $12,948,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PPG. Steigerwald Gordon & Koch Inc. purchased a new stake in PPG Industries during the 3rd quarter valued at $26,000. Root Financial Partners LLC purchased a new stake in shares of PPG Industries during the third quarter worth about $30,000. Gladwyn Financial Advisors Inc. bought a new stake in shares of PPG Industries in the second quarter worth about $31,000. Vermillion & White Wealth Management Group LLC increased its holdings in PPG Industries by 100.7% during 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 during the period. Finally, Rothschild Investment LLC lifted its holdings in PPG Industries by 184.0% in 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 period. 81.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PPG Industries

In other news, CFO Vincent J. Morales sold 29,672 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $125.00, for a total transaction of $3,709,000.00. Following the completion of the sale, the chief financial officer owned 28,439 shares of the company’s stock, valued at $3,554,875. The trade was a 51.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Chancey E. Hagerty sold 2,250 shares of the firm’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $115.59, for a total value of $260,077.50. Following the completion of the transaction, the vice president directly owned 8,477 shares in the company, valued at approximately $979,856.43. This represents a 20.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 37,122 shares of company stock worth $4,541,078 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PPG shares. BNP Paribas Exane dropped their price target on PPG Industries from $113.00 to $112.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 14th. Evercore dropped their target price on PPG Industries from $145.00 to $112.00 and set an “in-line” rating on the stock in a report on Tuesday, November 11th. Jefferies Financial Group increased their target price on PPG Industries from $115.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, January 29th. Berenberg Bank lowered their price target on PPG Industries from $131.00 to $110.00 and set a “hold” rating for the company in a research report on Thursday, December 4th. Finally, JPMorgan Chase & Co. increased their price objective on shares of PPG Industries from $117.00 to $126.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. One research 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $124.79.

PPG Industries Price Performance

NYSE PPG opened at $131.34 on Friday. The stock has a market capitalization of $29.47 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 1.97 and a beta of 1.16. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $133.43. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.08. The business’s fifty day moving average price is $109.80 and its 200-day moving average price is $106.23.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, January 27th. The specialty chemicals company reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.06). The firm had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.77 billion. PPG Industries had a net margin of 9.93% and a return on equity of 22.67%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.61 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, equities analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

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

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.