HITE Hedge Asset Management LLC Has $10.84 Million Position in PPG Industries, Inc. $PPG

HITE Hedge Asset Management LLC grew its stake in PPG Industries, Inc. (NYSE:PPG) by 17.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,091 shares of the specialty chemicals company’s stock after purchasing an additional 15,039 shares during the quarter. HITE Hedge Asset Management LLC’s holdings in PPG Industries were worth $10,836,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PPG. First Eagle Investment Management LLC lifted its stake in PPG Industries by 12.7% during the third quarter. First Eagle Investment Management LLC now owns 6,263,829 shares of the specialty chemicals company’s stock worth $658,391,000 after purchasing an additional 703,549 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of PPG Industries by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,020,138 shares of the specialty chemicals company’s stock valued at $317,421,000 after purchasing an additional 43,702 shares in the last quarter. Walnut Level Capital LLC raised its holdings in shares of 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 worth $7,138,000 after buying an additional 20,000 shares in the last quarter. GAM Holding AG grew its stake 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 worth $2,237,000 after buying an additional 10,508 shares during the last quarter. Finally, Rakuten Investment Management Inc. bought a new stake in shares of PPG Industries during the third quarter worth $16,245,000. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Buying and Selling

In other PPG Industries news, VP Chancey E. Hagerty sold 2,250 shares of the company’s stock in a transaction 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 sale, the vice president owned 8,477 shares of the company’s stock, valued at approximately $979,856.43. This represents a 20.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Vincent J. Morales sold 78,095 shares of the stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $131.00, for a total value of $10,230,445.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 118,811 shares of company stock valued at $15,219,371 over the last quarter. Insiders own 0.33% of the company’s stock.

PPG Industries Price Performance

PPG Industries stock opened at $100.67 on Friday. The stock’s 50 day moving average is $116.37 and its 200 day moving average is $107.61. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $133.43. The firm has a market cap of $22.53 billion, a P/E ratio of 14.51, a P/E/G ratio of 1.57 and a beta of 1.15. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.62 and a quick ratio of 1.22.

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 net margin of 9.93% and a return on equity of 22.30%. The firm had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period in the prior year, the company posted $1.61 EPS. The business’s revenue for the quarter 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. As a group, research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have recently commented on the company. UBS Group lifted their price target on PPG Industries from $110.00 to $122.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Wells Fargo & Company lifted their target price 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. JPMorgan Chase & Co. boosted their target price on shares of PPG Industries from $117.00 to $126.00 and gave the stock an “overweight” rating in a report on Thursday, January 29th. Mizuho raised their price target on shares of PPG Industries from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. Finally, KeyCorp reiterated a “sector weight” rating on shares of PPG Industries in a report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $125.93.

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.