NewEdge Wealth LLC Purchases Shares of 4,209 PPG Industries, Inc. $PPG

NewEdge Wealth LLC acquired a new position in PPG Industries, Inc. (NYSE:PPG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,209 shares of the specialty chemicals company’s stock, valued at approximately $405,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in PPG Industries by 0.7% during the second quarter. Vanguard Group Inc. now owns 29,265,369 shares of the specialty chemicals company’s stock worth $3,328,936,000 after buying an additional 192,560 shares in the last quarter. State Street Corp raised its position in shares of PPG Industries by 6.3% in the second quarter. State Street Corp now owns 12,624,828 shares of the specialty chemicals company’s stock worth $1,436,074,000 after acquiring an additional 749,081 shares during the period. First Eagle Investment Management LLC boosted its stake in shares of PPG Industries by 21.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 5,560,280 shares of the specialty chemicals company’s stock worth $632,482,000 after acquiring an additional 971,799 shares in the last quarter. Norges Bank purchased a new stake in shares of PPG Industries during the 2nd quarter worth about $362,412,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of PPG Industries by 1.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,775,676 shares of the specialty chemicals company’s stock valued at $315,734,000 after acquiring an additional 41,406 shares during the period. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Trading Up 0.1%

Shares of PPG stock opened at $125.46 on Wednesday. The company’s 50-day moving average price is $113.92 and its 200-day moving average price is $107.37. The company has a current ratio of 1.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.82. The stock has a market cap of $28.04 billion, a price-to-earnings ratio of 18.08, a PEG ratio of 1.88 and a beta of 1.16. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $133.43.

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 firm had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.77 billion. PPG Industries had a return on equity of 22.30% and a net margin of 9.93%.PPG Industries’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.61 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, 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 disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Friday, February 20th will be issued 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 2.3%. PPG Industries’s dividend payout ratio is currently 40.92%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PPG. Zacks Research raised PPG Industries from a “strong sell” rating to a “hold” rating in a report on Friday, January 23rd. Royal Bank Of Canada upped their target price on PPG Industries from $109.00 to $115.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 29th. KeyCorp reissued a “sector weight” rating on shares of PPG Industries in a research note on Thursday, January 29th. Wells Fargo & Company boosted their price target on shares of PPG Industries from $130.00 to $135.00 and gave the stock an “overweight” rating in a report on Thursday, January 29th. Finally, Jefferies Financial Group increased their price objective on shares of PPG Industries from $115.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, PPG Industries presently has an average rating of “Hold” and a consensus target price of $125.93.

Insider Buying and Selling

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

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.