Murphy Middleton Hinkle & Parker Inc. Invests $34.16 Million in PPG Industries, Inc. $PPG

Murphy Middleton Hinkle & Parker Inc. bought a new position in PPG Industries, Inc. (NYSE:PPG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 333,378 shares of the specialty chemicals company’s stock, valued at approximately $34,158,000. PPG Industries comprises about 9.7% of Murphy Middleton Hinkle & Parker Inc.’s investment portfolio, making the stock its 2nd biggest position.

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in PPG Industries in the 2nd quarter worth approximately $362,412,000. Wellington Management Group LLP raised its holdings in shares of PPG Industries by 19.9% during the third quarter. Wellington Management Group LLP now owns 15,159,770 shares of the specialty chemicals company’s stock valued at $1,593,443,000 after acquiring an additional 2,521,004 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of PPG Industries by 39.4% during the third quarter. Franklin Resources Inc. now owns 4,695,477 shares of the specialty chemicals company’s stock valued at $493,542,000 after acquiring an additional 1,326,619 shares in the last quarter. Holocene Advisors LP lifted its stake in PPG Industries by 342.8% in the second quarter. Holocene Advisors LP now owns 1,688,870 shares of the specialty chemicals company’s stock worth $192,109,000 after acquiring an additional 1,307,468 shares during the period. Finally, Burgundy Asset Management Ltd. bought a new stake in PPG Industries in the second quarter valued at $93,719,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Up 5.2%

Shares of PPG Industries stock opened at $102.25 on Tuesday. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $133.43. The firm has a market cap of $22.88 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 1.47 and a beta of 1.15. The company has a 50-day moving average of $115.73 and a 200 day moving average of $107.08. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.62 and a quick ratio of 1.22.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, January 27th. The specialty chemicals company reported $1.51 EPS for the quarter, missing the consensus estimate 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 22.30% and a net margin of 9.93%.The company’s revenue was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.61 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, sell-side analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Friday, February 20th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, February 20th. PPG Industries’s payout ratio is currently 40.92%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PPG. Bank of America decreased their price objective on shares of PPG Industries from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. The Goldman Sachs Group lifted their target price on shares of PPG Industries from $118.00 to $132.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Royal Bank Of Canada reduced their price target on shares of PPG Industries from $115.00 to $114.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 19th. UBS Group raised their price objective on shares of PPG Industries from $110.00 to $122.00 and gave the stock a “neutral” rating in a report on Thursday, January 29th. Finally, JPMorgan Chase & Co. lifted their price objective on PPG Industries from $117.00 to $126.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, PPG Industries presently has a consensus rating of “Moderate Buy” and an average target price of $124.07.

Insider Buying and Selling

In related news, CFO Vincent J. Morales sold 78,095 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $131.00, for a total value of $10,230,445.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Chancey E. Hagerty sold 2,250 shares of PPG Industries stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $115.59, for a total value of $260,077.50. Following the transaction, the vice president owned 8,477 shares of the company’s stock, valued at $979,856.43. The trade was a 20.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 118,811 shares of company stock worth $15,219,371 in the last 90 days. Insiders own 0.33% of the company’s stock.

PPG Industries 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.