Magnetar Financial LLC Purchases 17,127 Shares of PPG Industries, Inc. $PPG

Magnetar Financial LLC raised its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 415.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,254 shares of the specialty chemicals company’s stock after acquiring an additional 17,127 shares during the quarter. Magnetar Financial LLC’s holdings in PPG Industries were worth $2,234,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Lazard Asset Management LLC grew its position in shares of PPG Industries by 6.6% during the second quarter. Lazard Asset Management LLC now owns 1,576 shares of the specialty chemicals company’s stock worth $179,000 after purchasing an additional 97 shares in the last quarter. G&S Capital LLC lifted 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 purchasing an additional 104 shares in the last quarter. Columbia Bank boosted its stake in PPG Industries by 1.0% in the 3rd quarter. Columbia Bank now owns 10,951 shares of the specialty chemicals company’s stock worth $1,090,000 after purchasing an additional 106 shares during the period. Citizens Financial Group Inc. RI boosted its stake in PPG Industries by 0.5% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 22,716 shares of the specialty chemicals company’s stock worth $2,584,000 after purchasing an additional 107 shares during the period. Finally, Groupe la Francaise grew its holdings in PPG Industries by 8.9% during the 2nd quarter. Groupe la Francaise now owns 1,304 shares of the specialty chemicals company’s stock valued at $148,000 after buying an additional 107 shares in the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Down 3.3%

Shares of NYSE PPG opened at $100.67 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.82. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $133.43. The firm’s 50-day moving average price is $116.37 and its 200-day moving average price is $107.61. The stock has a market capitalization of $22.53 billion, a price-to-earnings ratio of 14.51, a P/E/G ratio of 1.57 and a beta of 1.15.

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

PPG Industries Announces Dividend

The business also recently announced 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 of this dividend was Friday, February 20th. This represents a $2.84 annualized dividend and a dividend yield of 2.8%. PPG Industries’s payout ratio is currently 40.92%.

Insider Activity

In other PPG Industries news, VP Chancey E. Hagerty sold 2,250 shares of the business’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 transaction, the vice president owned 8,477 shares in the company, valued at $979,856.43. The trade was a 20.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Anne M. Foulkes sold 3,594 shares of the stock in a transaction on Friday, February 20th. The shares were 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 directly owned 15,641 shares in the company, valued at approximately $1,949,025.01. This represents a 18.68% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 118,811 shares of company stock valued at $15,219,371. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

PPG has been the topic of several recent analyst reports. Sanford C. Bernstein lifted their price objective on shares of PPG Industries from $123.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Jefferies Financial Group raised their target price on shares of PPG Industries from $115.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, January 29th. Citigroup boosted their price target on shares of PPG Industries from $127.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. JPMorgan Chase & Co. raised their price objective on PPG Industries from $117.00 to $126.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. Finally, BNP Paribas Exane reduced their target price on PPG Industries from $113.00 to $112.00 and set a “neutral” rating on the stock in a report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.