Meyer Handelman Co. Lowers Holdings in PPG Industries, Inc. $PPG

Meyer Handelman Co. trimmed its position in PPG Industries, Inc. (NYSE:PPG) by 3.0% in the 4th quarter, Holdings Channel reports. The firm owned 161,223 shares of the specialty chemicals company’s stock after selling 5,040 shares during the quarter. Meyer Handelman Co.’s holdings in PPG Industries were worth $16,519,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PPG. Lazard Asset Management LLC increased its holdings in shares of PPG Industries by 6.6% in the second quarter. Lazard Asset Management LLC now owns 1,576 shares of the specialty chemicals company’s stock worth $179,000 after purchasing an additional 97 shares during the period. Waller Financial Planning Group Inc. boosted its stake in PPG Industries by 0.8% during the fourth quarter. Waller Financial Planning Group Inc. now owns 12,764 shares of the specialty chemicals company’s stock valued at $1,308,000 after buying an additional 100 shares during the period. G&S Capital LLC grew its position in PPG Industries by 1.9% during the third quarter. G&S Capital LLC now owns 5,620 shares of the specialty chemicals company’s stock worth $591,000 after buying an additional 104 shares in the last quarter. Columbia Bank grew its position in PPG Industries by 1.0% during the third quarter. Columbia Bank now owns 10,951 shares of the specialty chemicals company’s stock worth $1,090,000 after buying an additional 106 shares in the last quarter. Finally, Groupe la Francaise increased its stake in PPG Industries by 8.9% in the 2nd quarter. Groupe la Francaise now owns 1,304 shares of the specialty chemicals company’s stock worth $148,000 after acquiring an additional 107 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PPG Industries news, CFO Vincent J. Morales sold 78,095 shares of PPG Industries stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $131.00, for a total transaction of $10,230,445.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Chancey E. Hagerty sold 2,250 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The stock was 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 approximately $979,856.43. The trade was a 20.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 118,811 shares of company stock valued at $15,219,371. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PPG has been the topic of several recent analyst reports. UBS Group raised their price target on PPG Industries from $110.00 to $122.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Bank of America decreased their price objective on shares of PPG Industries from $118.00 to $116.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Wells Fargo & Company raised their target price on shares of PPG Industries from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday, January 29th. The Goldman Sachs Group lifted their target price on shares of PPG Industries from $118.00 to $132.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Finally, Jefferies Financial Group boosted their price target on shares of PPG Industries from $115.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, PPG Industries currently has a consensus rating of “Moderate Buy” and an average target price of $124.07.

PPG Industries Trading Up 3.1%

Shares of PPG stock opened at $107.08 on Wednesday. The business has a 50-day moving average price of $115.22 and a two-hundred day moving average price of $106.85. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $133.43. 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 firm has a market cap of $23.96 billion, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 1.57 and a beta of 1.15.

PPG Industries (NYSE:PPG) last announced 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). The firm had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.77 billion. PPG Industries had a net margin of 9.93% and a return on equity of 22.30%. PPG Industries’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.61 earnings per share. 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 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Friday, February 20th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, February 20th. PPG Industries’s dividend payout ratio (DPR) is presently 40.92%.

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.