PNC Financial Services Group Inc. Sells 39,452 Shares of PPG Industries, Inc. $PPG

PNC Financial Services Group Inc. decreased its position in shares of PPG Industries, Inc. (NYSE:PPG) by 4.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 888,103 shares of the specialty chemicals company’s stock after selling 39,452 shares during the period. PNC Financial Services Group Inc.’s holdings in PPG Industries were worth $93,348,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cookson Peirce & Co. Inc. grew its holdings in shares of PPG Industries by 201.9% during the third quarter. Cookson Peirce & Co. Inc. now owns 8,371 shares of the specialty chemicals company’s stock worth $880,000 after purchasing an additional 5,598 shares during the last quarter. Ameritas Advisory Services LLC boosted its position in PPG Industries by 1,584.9% during the 3rd quarter. Ameritas Advisory Services LLC now owns 26,335 shares of the specialty chemicals company’s stock worth $2,768,000 after buying an additional 24,772 shares during the period. Columbia Bank grew its holdings in PPG Industries by 1.0% during the 3rd quarter. Columbia Bank now owns 10,951 shares of the specialty chemicals company’s stock worth $1,090,000 after acquiring an additional 106 shares during the last quarter. Assetmark Inc. increased its position in PPG Industries by 1.6% in the 3rd quarter. Assetmark Inc. now owns 21,349 shares of the specialty chemicals company’s stock valued at $2,244,000 after acquiring an additional 326 shares during the period. Finally, Public Sector Pension Investment Board raised its stake in shares of PPG Industries by 12.5% during the third quarter. Public Sector Pension Investment Board now owns 19,427 shares of the specialty chemicals company’s stock valued at $2,042,000 after acquiring an additional 2,160 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Activity

In related news, CFO Vincent J. Morales sold 29,672 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $125.00, for a total value of $3,709,000.00. Following the completion of the sale, the chief financial officer directly owned 28,439 shares of the company’s stock, valued at $3,554,875. The trade was a 51.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Chancey E. Hagerty sold 2,250 shares of the stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $115.59, for a total value of $260,077.50. Following the completion of the transaction, the vice president owned 8,477 shares in the company, valued at approximately $979,856.43. The trade was a 20.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 37,122 shares of company stock worth $4,541,078 in the last quarter. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

PPG has been the subject of a number of recent research reports. UBS Group increased their price objective on PPG Industries from $110.00 to $122.00 and gave the company a “neutral” rating in a report on Thursday, January 29th. Evercore decreased their price target on PPG Industries from $145.00 to $112.00 and set an “in-line” rating for the company in a research note on Tuesday, November 11th. Bank of America lowered their price objective on PPG Industries from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Wells Fargo & Company upped their target price on PPG Industries from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Thursday, January 29th. Finally, The Goldman Sachs Group raised their price target 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 assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, PPG Industries currently has an average rating of “Hold” and a consensus price target of $124.79.

PPG Industries Trading Down 0.2%

NYSE PPG opened at $131.26 on Monday. The stock has a market capitalization of $29.45 billion, a P/E ratio of 18.91, a P/E/G ratio of 1.97 and a beta of 1.16. The business has a 50 day simple moving average of $110.40 and a 200 day simple moving average of $106.31. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.47 and a quick ratio of 1.08. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $133.43.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Tuesday, January 27th. The specialty chemicals company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.06). The business had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.77 billion. PPG Industries had a return on equity of 22.67% and a net margin of 9.93%.PPG Industries’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.61 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Friday, February 20th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, February 20th. PPG Industries’s payout ratio is 40.92%.

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.