JPMorgan Chase & Co. Sells 119,036 Shares of PPG Industries, Inc. $PPG

JPMorgan Chase & Co. reduced its stake in PPG Industries, Inc. (NYSE:PPG) by 3.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,124,182 shares of the specialty chemicals company’s stock after selling 119,036 shares during the period. JPMorgan Chase & Co. owned about 1.39% of PPG Industries worth $328,387,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Lazard Asset Management LLC increased its stake 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 buying an additional 97 shares during the period. G&S Capital LLC grew its holdings in PPG Industries by 1.9% in the 3rd quarter. G&S Capital LLC now owns 5,620 shares of the specialty chemicals company’s stock worth $591,000 after acquiring an additional 104 shares during the last quarter. Columbia Bank increased its position in shares of PPG Industries by 1.0% in the third quarter. Columbia Bank now owns 10,951 shares of the specialty chemicals company’s stock valued at $1,090,000 after acquiring an additional 106 shares during the period. Citizens Financial Group Inc. RI raised its stake in shares of PPG Industries by 0.5% during the second quarter. Citizens Financial Group Inc. RI now owns 22,716 shares of the specialty chemicals company’s stock valued at $2,584,000 after acquiring an additional 107 shares during the last quarter. Finally, Groupe la Francaise boosted its holdings in shares of PPG Industries by 8.9% during the second quarter. Groupe la Francaise now owns 1,304 shares of the specialty chemicals company’s stock worth $148,000 after purchasing an additional 107 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Wall Street Analysts Forecast Growth

PPG has been the topic of a number of research analyst reports. Berenberg Bank reduced their price target on PPG Industries from $131.00 to $110.00 and set a “hold” rating on the stock in a report on Thursday, December 4th. Citigroup boosted their target price on PPG Industries from $127.00 to $132.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. KeyCorp reaffirmed a “sector weight” rating on shares of PPG Industries in a research note on Thursday, January 29th. Jefferies Financial Group lifted their price target on shares of PPG Industries from $115.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, January 29th. Finally, The Goldman Sachs Group upped their price objective on shares of PPG Industries from $118.00 to $132.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $124.79.

PPG Industries Stock Performance

Shares of PPG Industries stock opened at $124.14 on Friday. PPG Industries, Inc. has a 12 month low of $90.24 and a 12 month high of $133.43. The firm has a market capitalization of $27.86 billion, a P/E ratio of 17.89, a P/E/G ratio of 1.93 and a beta of 1.16. The company has a current ratio of 1.47, a quick ratio of 1.08 and a debt-to-equity ratio of 0.74. The business has a fifty day simple moving average of $112.59 and a two-hundred day simple moving average of $106.94.

PPG Industries (NYSE:PPG) last released its earnings results on Tuesday, January 27th. The specialty chemicals company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.06). PPG Industries had a return on equity of 22.67% and a net margin of 9.93%.The business had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the company earned $1.61 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, equities analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal 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 paid a $0.71 dividend. The ex-dividend date is Friday, February 20th. This represents a $2.84 annualized dividend and a dividend yield of 2.3%. PPG Industries’s dividend payout ratio is presently 40.92%.

Insider Buying and Selling

In related news, VP Chancey E. Hagerty sold 2,250 shares of the stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $115.59, for a total transaction of $260,077.50. Following the sale, the vice president directly owned 8,477 shares of the company’s stock, valued at approximately $979,856.43. This represents a 20.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Vincent J. Morales sold 78,095 shares of the firm’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $131.00, for a total transaction of $10,230,445.00. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 115,217 shares of company stock valued at $14,771,523. 0.33% of the stock is owned by corporate insiders.

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.