PPG Industries, Inc. $PPG Shares Sold by Swiss Life Asset Management Ltd

Swiss Life Asset Management Ltd trimmed its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 15.9% during the fourth quarter, Holdings Channel reports. The firm owned 54,643 shares of the specialty chemicals company’s stock after selling 10,322 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in PPG Industries were worth $5,599,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Nvest Wealth Strategies Inc. acquired a new position in shares of PPG Industries during the fourth quarter worth approximately $505,000. First Eagle Investment Management LLC increased its position in PPG Industries by 12.7% in the 3rd quarter. First Eagle Investment Management LLC now owns 6,263,829 shares of the specialty chemicals company’s stock valued at $658,391,000 after acquiring an additional 703,549 shares during the period. Dimensional Fund Advisors LP raised its stake in PPG Industries by 1.5% during 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 acquiring an additional 43,702 shares in the last quarter. Wellington Management Group LLP boosted its position in PPG Industries by 19.9% during the 3rd quarter. Wellington Management Group LLP now owns 15,159,770 shares of the specialty chemicals company’s stock worth $1,593,443,000 after acquiring an additional 2,521,004 shares during the period. Finally, Rakuten Investment Management Inc. acquired a new position in PPG Industries during the 3rd quarter worth $16,245,000. 81.86% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Anne M. Foulkes sold 3,594 shares of the firm’s stock in a transaction that occurred 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 trade represents a 18.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vincent J. Morales sold 78,095 shares of the company’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $131.00, for a total value of $10,230,445.00. The disclosure for this sale is available in the SEC filing. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on PPG shares. Jefferies Financial Group lowered their price target on PPG Industries from $125.00 to $116.00 and set a “hold” rating on the stock in a report on Thursday, March 26th. Royal Bank Of Canada increased their target price on shares of PPG Industries from $114.00 to $119.00 and gave the company a “sector perform” rating in a research report on Thursday, April 16th. Deutsche Bank Aktiengesellschaft raised their target price on shares of PPG Industries from $120.00 to $130.00 in a research note on Friday, March 27th. Wells Fargo & Company reduced their price target on shares of PPG Industries from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday, April 10th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of PPG Industries from $126.00 to $125.00 in a report on Thursday, April 30th. Five equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, PPG Industries presently has an average rating of “Hold” and a consensus target price of $121.79.

PPG Industries Trading Down 0.8%

Shares of PPG stock opened at $105.51 on Thursday. The stock has a 50-day simple moving average of $107.25 and a 200 day simple moving average of $107.82. The stock has a market capitalization of $23.52 billion, a P/E ratio of 15.05, a P/E/G ratio of 1.55 and a beta of 1.06. PPG Industries, Inc. has a fifty-two week low of $93.39 and a fifty-two week high of $133.43. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 0.78.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.78 by $0.05. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The firm had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.85 billion. During the same period in the previous year, the business earned $1.72 earnings per share. PPG Industries’s revenue for the quarter was up 6.7% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, sell-side analysts expect that PPG Industries, Inc. will post 7.93 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Monday, May 11th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, May 11th. This represents a $2.84 annualized dividend and a yield of 2.7%. PPG Industries’s dividend payout ratio is currently 40.51%.

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.