PPG Industries, Inc. $PPG Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC reduced its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 45.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 37,797 shares of the specialty chemicals company’s stock after selling 31,370 shares during the period. Manning & Napier Advisors LLC’s holdings in PPG Industries were worth $3,973,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Walnut Level Capital LLC raised its stake in PPG Industries by 46.8% during the 2nd quarter. Walnut Level Capital LLC now owns 62,754 shares of the specialty chemicals company’s stock valued at $7,138,000 after purchasing an additional 20,000 shares during the period. Avior Wealth Management LLC boosted its position in shares of PPG Industries by 8,828.7% in the second quarter. Avior Wealth Management LLC now owns 8,393 shares of the specialty chemicals company’s stock worth $955,000 after buying an additional 8,299 shares during the period. GAM Holding AG grew its holdings in shares of PPG Industries by 97.5% during the third quarter. GAM Holding AG now owns 21,281 shares of the specialty chemicals company’s stock valued at $2,237,000 after buying an additional 10,508 shares in the last quarter. Mather Group LLC. raised its position in PPG Industries by 2.9% during the second quarter. Mather Group LLC. now owns 125,616 shares of the specialty chemicals company’s stock valued at $14,289,000 after buying an additional 3,551 shares during the period. Finally, Vest Financial LLC lifted its stake in PPG Industries by 17.4% in the 2nd quarter. Vest Financial LLC now owns 526,269 shares of the specialty chemicals company’s stock worth $59,863,000 after acquiring an additional 78,022 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on PPG. Wells Fargo & Company lowered their target price on PPG Industries from $132.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Zacks Research cut shares of PPG Industries from a “hold” rating to a “strong sell” rating in a report on Monday, November 10th. Sanford C. Bernstein dropped their price objective on shares of PPG Industries from $129.00 to $123.00 and set an “outperform” rating on the stock in a research note on Monday, November 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of PPG Industries in a research report on Friday, October 31st. Finally, JPMorgan Chase & Co. lifted their target price on shares of PPG Industries from $112.00 to $117.00 and gave the company an “overweight” rating in a research note on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $122.54.

PPG Industries Price Performance

NYSE PPG opened at $108.48 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.47 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $24.34 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 3.20 and a beta of 1.17. The company has a 50 day moving average price of $101.28 and a two-hundred day moving average price of $105.92. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $124.74.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 EPS for the quarter, topping 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 quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.13 EPS. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. As a group, equities analysts predict that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

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.