Insider Selling: PPG Industries (NYSE:PPG) CFO Sells 5,200 Shares of Stock

PPG Industries, Inc. (NYSE:PPG) CFO Vincent Morales sold 5,200 shares of PPG Industries stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $110.00, for a total value of $572,000.00. Following the sale, the chief financial officer directly owned 28,439 shares in the company, valued at $3,128,290. The trade was a 15.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

PPG Industries Stock Performance

PPG Industries stock traded up $0.07 on Friday, hitting $110.14. The company’s stock had a trading volume of 752,474 shares, compared to its average volume of 1,626,035. PPG Industries, Inc. has a one year low of $90.24 and a one year high of $124.74. The firm has a market cap of $24.72 billion, a P/E ratio of 24.97, a price-to-earnings-growth ratio of 3.23 and a beta of 1.17. The company has a quick ratio of 1.08, a current ratio of 1.47 and a debt-to-equity ratio of 0.74. The company has a fifty day moving average price of $101.58 and a 200-day moving average price of $105.95.

PPG Industries (NYSE:PPG) last posted its earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.04. The business had revenue of $4.08 billion for the quarter, compared to analysts’ expectations of $4.06 billion. PPG Industries had a net margin of 6.35% and a return on equity of 23.61%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.13 earnings per share. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. On average, equities analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Friday, February 20th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, February 20th. PPG Industries’s dividend payout ratio is currently 64.40%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PPG shares. BNP Paribas Exane cut their price target on shares of PPG Industries from $113.00 to $112.00 and set a “neutral” rating for the company in a report on Wednesday. Mizuho dropped their price objective on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. Citigroup boosted their target price on PPG Industries from $116.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. Wells Fargo & Company decreased their price target on PPG Industries from $132.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of PPG Industries in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, PPG Industries currently has an average rating of “Hold” and an average price target of $120.86.

Institutional Investors Weigh In On PPG Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Walnut Level Capital LLC grew its position in shares of PPG Industries by 46.8% during the 2nd quarter. Walnut Level Capital LLC now owns 62,754 shares of the specialty chemicals company’s stock valued at $7,138,000 after acquiring an additional 20,000 shares during the period. Avior Wealth Management LLC raised its holdings in shares of PPG Industries by 8,828.7% in the 2nd quarter. Avior Wealth Management LLC now owns 8,393 shares of the specialty chemicals company’s stock worth $955,000 after purchasing an additional 8,299 shares during the period. GAM Holding AG lifted its stake in PPG Industries by 97.5% in the third quarter. GAM Holding AG now owns 21,281 shares of the specialty chemicals company’s stock valued at $2,237,000 after purchasing an additional 10,508 shares during the last quarter. Mather Group LLC. grew its holdings in PPG Industries by 2.9% during the second quarter. Mather Group LLC. now owns 125,616 shares of the specialty chemicals company’s stock valued at $14,289,000 after purchasing an additional 3,551 shares during the period. Finally, Vest Financial LLC increased its position in PPG Industries by 17.4% in the second quarter. Vest Financial LLC now owns 526,269 shares of the specialty chemicals company’s stock worth $59,863,000 after buying an additional 78,022 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

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.