Vest Financial LLC Sells 49,552 Shares of PPG Industries, Inc. $PPG

Vest Financial LLC trimmed its holdings in PPG Industries, Inc. (NYSE:PPG) by 9.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 476,717 shares of the specialty chemicals company’s stock after selling 49,552 shares during the quarter. Vest Financial LLC owned approximately 0.21% of PPG Industries worth $50,108,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PPG. Brighton Jones LLC raised its holdings in PPG Industries by 9.1% during the 4th quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock valued at $487,000 after buying an additional 339 shares during the period. Integrated Wealth Concepts LLC raised its stake in shares of PPG Industries by 31.4% in the first quarter. Integrated Wealth Concepts LLC now owns 3,849 shares of the specialty chemicals company’s stock valued at $421,000 after acquiring an additional 920 shares during the period. Empowered Funds LLC lifted its holdings in shares of PPG Industries by 6.1% in the 1st quarter. Empowered Funds LLC now owns 26,354 shares of the specialty chemicals company’s stock worth $2,882,000 after acquiring an additional 1,526 shares during the last quarter. Woodline Partners LP boosted its stake in shares of PPG Industries by 40.7% during the 1st quarter. Woodline Partners LP now owns 19,600 shares of the specialty chemicals company’s stock worth $2,143,000 after purchasing an additional 5,667 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of PPG Industries by 8.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 65,402 shares of the specialty chemicals company’s stock worth $7,736,000 after purchasing an additional 4,874 shares during the period. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PPG has been the topic of a number of analyst reports. Evercore ISI cut their target price on PPG Industries from $145.00 to $112.00 and set an “in-line” rating on the stock in a research note on Tuesday, November 11th. Weiss Ratings restated a “hold (c-)” rating on shares of PPG Industries in a report on Friday, October 31st. JPMorgan Chase & Co. lifted their target price on PPG Industries from $112.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st. UBS Group cut their price target on shares of PPG Industries from $115.00 to $110.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Finally, Zacks Research downgraded shares of PPG Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $120.86.

PPG Industries Trading Up 1.9%

Shares of NYSE:PPG opened at $111.10 on Wednesday. The company has a market capitalization of $24.93 billion, a PE ratio of 25.15, a PEG ratio of 3.28 and a beta of 1.17. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $124.74. The business has a 50 day moving average of $102.41 and a two-hundred day moving average of $105.64. The company has a current ratio of 1.47, a quick ratio of 1.08 and a debt-to-equity ratio of 0.74.

PPG Industries (NYSE:PPG) last released its quarterly earnings data 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 company had revenue of $4.08 billion during 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 company earned $2.13 earnings per share. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. As a group, analysts forecast that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

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

Insider Buying and Selling

In other news, CFO Vincent J. Morales sold 5,200 shares of PPG Industries stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $110.00, for a total transaction of $572,000.00. Following the transaction, the chief financial officer owned 28,439 shares in the company, valued at $3,128,290. The trade was a 15.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.