Interval Partners LP Sells 847,044 Shares of PPG Industries, Inc. $PPG

Interval Partners LP lowered its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 79.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 225,119 shares of the specialty chemicals company’s stock after selling 847,044 shares during the quarter. Interval Partners LP owned approximately 0.10% of PPG Industries worth $23,662,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its stake in shares of PPG Industries by 9.1% during the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock valued at $487,000 after purchasing an additional 339 shares during the last quarter. Integrated Wealth Concepts LLC raised its position in PPG Industries by 31.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,849 shares of the specialty chemicals company’s stock worth $421,000 after purchasing an additional 920 shares during the last quarter. Empowered Funds LLC lifted its holdings in PPG Industries by 6.1% during the 1st quarter. Empowered Funds LLC now owns 26,354 shares of the specialty chemicals company’s stock worth $2,882,000 after buying an additional 1,526 shares in the last quarter. Woodline Partners LP boosted its position in PPG Industries by 40.7% in the 1st quarter. Woodline Partners LP now owns 19,600 shares of the specialty chemicals company’s stock valued at $2,143,000 after buying an additional 5,667 shares during the last quarter. Finally, Allworth Financial LP increased its stake in shares of PPG Industries by 8.9% in the 2nd quarter. Allworth Financial LP now owns 3,580 shares of the specialty chemicals company’s stock valued at $407,000 after buying an additional 292 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Activity at PPG Industries

In related news, VP Chancey E. Hagerty sold 2,250 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $115.59, for a total transaction of $260,077.50. Following the completion of the transaction, the vice president owned 8,477 shares in the company, valued at approximately $979,856.43. The trade was a 20.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Anne M. Foulkes sold 3,594 shares of the stock in a transaction on Friday, February 20th. The stock was sold at an average price of $124.61, for a total transaction of $447,848.34. Following the completion of the sale, the vice president owned 15,641 shares in the company, valued at approximately $1,949,025.01. This trade represents a 18.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 118,811 shares of company stock worth $15,219,371. 0.33% of the stock is currently owned by company insiders.

PPG Industries Trading Up 1.1%

NYSE PPG opened at $101.88 on Friday. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $133.43. The stock has a 50-day simple moving average of $116.33 and a 200 day simple moving average of $107.54. 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 company has a market capitalization of $22.80 billion, a PE ratio of 14.68, a P/E/G ratio of 1.52 and a beta of 1.15.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, January 27th. The specialty chemicals company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.06). The company had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.77 billion. PPG Industries had a return on equity of 22.30% and a net margin of 9.93%.PPG Industries’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $1.61 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Research analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Friday, February 20th were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, February 20th. This represents a $2.84 annualized dividend and a yield of 2.8%. PPG Industries’s dividend payout ratio (DPR) is presently 40.92%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PPG shares. Citigroup boosted their target price on PPG Industries from $127.00 to $132.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Evercore lifted their price objective on PPG Industries from $112.00 to $128.00 in a research report on Wednesday, February 18th. Mizuho boosted their price objective on PPG Industries from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Bank of America cut their target price 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. Finally, Wells Fargo & Company lifted their price target on shares of PPG Industries from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, PPG Industries presently has an average rating of “Moderate Buy” and a consensus price target of $125.93.

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.