Fox Run Management L.L.C. Acquires New Shares in PPG Industries, Inc. $PPG

Fox Run Management L.L.C. acquired a new position in shares of PPG Industries, Inc. (NYSE:PPG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,004 shares of the specialty chemicals company’s stock, valued at approximately $736,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PPG. Vanguard Group Inc. raised its position in shares of PPG Industries by 0.7% during the second quarter. Vanguard Group Inc. now owns 29,265,369 shares of the specialty chemicals company’s stock worth $3,328,936,000 after purchasing an additional 192,560 shares during the period. State Street Corp increased its stake in PPG Industries by 6.3% during the 2nd quarter. State Street Corp now owns 12,624,828 shares of the specialty chemicals company’s stock worth $1,436,074,000 after purchasing an additional 749,081 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in PPG Industries by 21.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 5,560,280 shares of the specialty chemicals company’s stock worth $632,482,000 after buying an additional 971,799 shares during the period. Norges Bank bought a new position in PPG Industries in the second quarter valued at approximately $362,412,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of PPG Industries by 1.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,775,676 shares of the specialty chemicals company’s stock valued at $315,734,000 after buying an additional 41,406 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PPG Industries news, CFO Vincent J. Morales sold 78,095 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Chancey E. Hagerty sold 2,250 shares of PPG Industries stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $115.59, for a total transaction of $260,077.50. Following the completion of the transaction, the vice president directly owned 8,477 shares of the company’s stock, valued at approximately $979,856.43. This trade represents a 20.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 118,811 shares of company stock valued at $15,219,371. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PPG. Evercore raised their price objective on shares of PPG Industries from $112.00 to $128.00 in a report on Wednesday, February 18th. The Goldman Sachs Group lifted their price target on PPG Industries from $118.00 to $132.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Sanford C. Bernstein boosted their price target on PPG Industries from $123.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Mizuho increased their price objective on PPG Industries from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Finally, Wells Fargo & Company lifted their target price on PPG Industries from $130.00 to $135.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $125.93.

PPG Industries Price Performance

NYSE:PPG opened at $123.15 on Friday. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $133.43. The company has a market cap of $27.52 billion, a P/E ratio of 17.74, a P/E/G ratio of 1.85 and a beta of 1.16. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.22 and a current ratio of 1.62. The stock’s 50-day simple moving average is $115.12 and its 200 day simple moving average is $107.70.

PPG Industries (NYSE:PPG) last posted its quarterly 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). The company had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.77 billion. PPG Industries had a net margin of 9.93% and a return on equity of 22.30%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.61 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, sell-side analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Friday, February 20th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, February 20th. PPG Industries’s payout ratio is presently 40.92%.

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.