QRG Capital Management Inc. Cuts Stake in PPG Industries, Inc. $PPG

QRG Capital Management Inc. cut its stake in PPG Industries, Inc. (NYSE:PPG) by 51.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,952 shares of the specialty chemicals company’s stock after selling 5,297 shares during the period. QRG Capital Management Inc.’s holdings in PPG Industries were worth $520,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital Advisors Ltd. LLC boosted its holdings in shares of PPG Industries by 127.6% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 125 shares during the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in shares of PPG Industries in the 3rd quarter worth $26,000. Gladwyn Financial Advisors Inc. acquired a new position in PPG Industries in the second quarter valued at $31,000. Vermillion & White Wealth Management Group LLC grew its position in PPG Industries by 100.7% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 273 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 137 shares during the period. Finally, Rothschild Investment LLC grew its position in PPG Industries by 184.0% during the second quarter. Rothschild Investment LLC now owns 284 shares of the specialty chemicals company’s stock valued at $32,000 after acquiring an additional 184 shares during the period. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Activity at PPG Industries

In related news, CFO Vincent J. Morales sold 5,200 shares of the business’s stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $110.00, for a total value of $572,000.00. Following the transaction, the chief financial officer owned 28,439 shares in the company, valued at approximately $3,128,290. The trade was a 15.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Zacks Research downgraded PPG Industries from a “hold” rating to a “strong sell” rating in a report on Monday, November 10th. Mizuho reduced their price target on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. UBS Group decreased their price objective on shares of PPG Industries from $115.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of PPG Industries in a research report on Friday, October 31st. Finally, Bank of America cut their target price on shares of PPG Industries from $118.00 to $116.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $120.86.

PPG Industries Trading Up 1.1%

PPG opened at $113.81 on Friday. The firm’s 50 day moving average is $103.03 and its 200-day moving average is $105.74. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $124.74. 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 firm has a market capitalization of $25.54 billion, a P/E ratio of 25.81, a P/E/G ratio of 3.33 and a beta of 1.17.

PPG Industries (NYSE:PPG) last announced its earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.04. PPG Industries had a net margin of 6.35% and a return on equity of 23.61%. The business had revenue of $4.08 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same period in the prior year, the firm earned $2.13 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 20th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, February 20th. PPG Industries’s payout ratio is presently 64.40%.

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.