Cibc World Market Inc. Sells 87,000 Shares of PPG Industries, Inc. $PPG

Cibc World Market Inc. decreased its stake in PPG Industries, Inc. (NYSE:PPG) by 85.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,952 shares of the specialty chemicals company’s stock after selling 87,000 shares during the period. Cibc World Market Inc.’s holdings in PPG Industries were worth $1,532,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. CIBC Asset Management Inc lifted its stake in PPG Industries by 53.3% in the 4th quarter. CIBC Asset Management Inc now owns 57,348 shares of the specialty chemicals company’s stock valued at $5,876,000 after purchasing an additional 19,936 shares during the last quarter. Bruce G. Allen Investments LLC lifted its stake in PPG Industries by 15.3% in the 4th quarter. Bruce G. Allen Investments LLC now owns 1,146 shares of the specialty chemicals company’s stock valued at $117,000 after purchasing an additional 152 shares during the last quarter. Bridges Investment Management Inc. lifted its stake in PPG Industries by 8.8% in the 4th quarter. Bridges Investment Management Inc. now owns 19,842 shares of the specialty chemicals company’s stock valued at $2,033,000 after purchasing an additional 1,602 shares during the last quarter. Natixis Advisors LLC lifted its stake in PPG Industries by 25.0% in the 4th quarter. Natixis Advisors LLC now owns 263,156 shares of the specialty chemicals company’s stock valued at $26,963,000 after purchasing an additional 52,589 shares during the last quarter. Finally, Heritage Trust Co bought a new position in shares of PPG Industries during the fourth quarter valued at $208,000. Institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of NYSE PPG opened at $116.32 on Wednesday. PPG Industries, Inc. has a twelve month low of $93.39 and a twelve month high of $133.43. The firm has a fifty day simple moving average of $108.88 and a 200 day simple moving average of $109.42. The company has a market capitalization of $25.93 billion, a PE ratio of 16.59, a P/E/G ratio of 1.65 and a beta of 1.06. 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 announced its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.05. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The business had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter last year, the firm earned $1.72 earnings per share. PPG Industries’s quarterly revenue was up 6.7% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, sell-side analysts forecast that PPG Industries, Inc. will post 7.92 EPS for the current year.

PPG Industries Announces Dividend

The company 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. This represents a $2.84 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, May 11th. PPG Industries’s dividend payout ratio (DPR) is currently 40.51%.

Wall Street Analysts Forecast Growth

PPG has been the subject of several analyst reports. Royal Bank Of Canada raised their price target on shares of PPG Industries from $114.00 to $119.00 and gave the company a “sector perform” rating in a research note on Thursday, April 16th. Mizuho raised their price target on shares of PPG Industries from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. BNP Paribas Exane raised their price target on shares of PPG Industries from $115.00 to $116.00 in a research note on Thursday, April 30th. JPMorgan Chase & Co. dropped their price target on shares of PPG Industries from $126.00 to $125.00 in a research note on Thursday, April 30th. Finally, Wells Fargo & Company dropped 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. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $121.79.

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.