PPG Industries, Inc. $PPG Shares Sold by Heartland Advisors Inc.

Heartland Advisors Inc. cut its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 8.4% in the 3rd quarter, Holdings Channel reports. The fund owned 103,832 shares of the specialty chemicals company’s stock after selling 9,510 shares during the quarter. Heartland Advisors Inc.’s holdings in PPG Industries were worth $10,914,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of PPG Industries during the second quarter worth $362,412,000. Holocene Advisors LP raised its position in PPG Industries by 342.8% during the 2nd quarter. Holocene Advisors LP now owns 1,688,870 shares of the specialty chemicals company’s stock worth $192,109,000 after buying an additional 1,307,468 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in shares of PPG Industries by 21.2% in 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 during the period. Burgundy Asset Management Ltd. purchased a new stake in shares of PPG Industries in the second quarter valued at about $93,719,000. Finally, State Street Corp increased its stake in shares of PPG Industries by 6.3% during 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. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Berenberg Bank reduced their price objective on shares of PPG Industries from $131.00 to $110.00 and set a “hold” rating for the company in a research report on Thursday, December 4th. Evercore reduced their price target on PPG Industries from $145.00 to $112.00 and set an “in-line” rating for the company in a report on Tuesday, November 11th. The Goldman Sachs Group increased their price objective on PPG Industries from $118.00 to $132.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. KeyCorp restated a “sector weight” rating on shares of PPG Industries in a research report on Thursday, January 29th. Finally, Wells Fargo & Company upped their price target on shares of PPG Industries from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, January 29th. One equities 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $124.79.

Insider Buying and Selling

In other PPG Industries news, VP Chancey E. Hagerty sold 2,250 shares of PPG Industries stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $115.59, for a total value of $260,077.50. Following the transaction, the vice president owned 8,477 shares in the company, valued at $979,856.43. This trade represents a 20.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vincent J. Morales sold 29,672 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $125.00, for a total value of $3,709,000.00. Following the sale, the chief financial officer owned 28,439 shares of the company’s stock, valued at approximately $3,554,875. The trade was a 51.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 37,122 shares of company stock worth $4,541,078. 0.33% of the stock is currently owned by insiders.

PPG Industries Stock Performance

NYSE:PPG opened at $131.26 on Tuesday. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $133.43. The firm has a market cap of $29.45 billion, a PE ratio of 18.91, a P/E/G ratio of 1.97 and a beta of 1.16. The firm has a 50 day simple moving average of $111.02 and a 200-day simple moving average of $106.49. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.08.

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 analysts’ consensus estimates of $1.57 by ($0.06). The business had revenue of $3.91 billion during 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%. PPG Industries’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.61 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, equities analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Friday, February 20th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, February 20th. This represents a $2.84 annualized dividend and a yield of 2.2%. PPG Industries’s dividend payout ratio is 40.92%.

PPG Industries 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.