SG Americas Securities LLC Cuts Stock Position in PPG Industries, Inc. $PPG

SG Americas Securities LLC lessened its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 65.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,727 shares of the specialty chemicals company’s stock after selling 41,277 shares during the period. SG Americas Securities LLC’s holdings in PPG Industries were worth $2,284,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Walnut Level Capital LLC raised its holdings in PPG Industries by 46.8% in the second quarter. Walnut Level Capital LLC now owns 62,754 shares of the specialty chemicals company’s stock worth $7,138,000 after buying an additional 20,000 shares during the last quarter. Avior Wealth Management LLC increased its position in shares of PPG Industries by 8,828.7% during the second quarter. Avior Wealth Management LLC now owns 8,393 shares of the specialty chemicals company’s stock valued at $955,000 after acquiring an additional 8,299 shares in the last quarter. GAM Holding AG raised its holdings in PPG Industries by 97.5% in the 3rd quarter. GAM Holding AG now owns 21,281 shares of the specialty chemicals company’s stock worth $2,237,000 after acquiring an additional 10,508 shares during the last quarter. Mather Group LLC. raised its holdings in PPG Industries by 2.9% in the 2nd quarter. Mather Group LLC. now owns 125,616 shares of the specialty chemicals company’s stock worth $14,289,000 after acquiring an additional 3,551 shares during the last quarter. Finally, Vest Financial LLC lifted its position 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 valued at $59,863,000 after acquiring an additional 78,022 shares in the last quarter. 81.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on PPG shares. Mizuho reduced their target price on PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. Zacks Research downgraded PPG Industries from a “hold” rating to a “strong sell” rating in a report on Monday, November 10th. UBS Group lowered their target price on shares of PPG Industries from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Berenberg Bank dropped their price target on shares of PPG Industries from $131.00 to $110.00 and set a “hold” rating on the stock in a report on Thursday, December 4th. Finally, Wells Fargo & Company decreased their price objective on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, PPG Industries presently has a consensus rating of “Hold” and a consensus target price of $122.54.

PPG Industries Trading Down 0.6%

Shares of NYSE:PPG opened at $107.45 on Wednesday. The stock’s 50-day simple moving average is $101.04 and its two-hundred day simple moving average is $105.90. The stock has a market capitalization of $24.11 billion, a price-to-earnings ratio of 24.37, a PEG ratio of 3.21 and a beta of 1.17. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $124.74. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.47.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.04. The firm had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.06 billion. PPG Industries had a net margin of 6.35% and a return on equity of 23.61%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.13 EPS. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Monday, November 10th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.6%. The ex-dividend date was Monday, November 10th. PPG Industries’s dividend payout ratio (DPR) is currently 64.40%.

About PPG Industries

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.