JPMorgan Chase & Co. Sells 119,036 Shares of PPG Industries, Inc. $PPG

JPMorgan Chase & Co. trimmed its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 3.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,124,182 shares of the specialty chemicals company’s stock after selling 119,036 shares during the period. JPMorgan Chase & Co.’s holdings in PPG Industries were worth $328,387,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Lazard Asset Management LLC lifted its holdings in shares of PPG Industries by 6.6% during the second quarter. Lazard Asset Management LLC now owns 1,576 shares of the specialty chemicals company’s stock valued at $179,000 after purchasing an additional 97 shares in the last quarter. G&S Capital LLC increased its holdings in PPG Industries by 1.9% in the 3rd quarter. G&S Capital LLC now owns 5,620 shares of the specialty chemicals company’s stock worth $591,000 after buying an additional 104 shares in the last quarter. Columbia Bank raised its position in PPG Industries by 1.0% in the 3rd quarter. Columbia Bank now owns 10,951 shares of the specialty chemicals company’s stock worth $1,090,000 after buying an additional 106 shares during the last quarter. Citizens Financial Group Inc. RI raised its position in PPG Industries by 0.5% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 22,716 shares of the specialty chemicals company’s stock worth $2,584,000 after buying an additional 107 shares during the last quarter. Finally, Groupe la Francaise lifted its stake in PPG Industries by 8.9% during the 2nd quarter. Groupe la Francaise now owns 1,304 shares of the specialty chemicals company’s stock valued at $148,000 after acquiring an additional 107 shares during the period. Institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Down 3.2%

Shares of PPG stock opened at $124.14 on Friday. 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, Inc. has a 12 month low of $90.24 and a 12 month high of $133.43. The stock has a market cap of $27.86 billion, a P/E ratio of 17.89, a P/E/G ratio of 1.93 and a beta of 1.16. The company has a 50 day simple moving average of $112.59 and a two-hundred day simple moving average of $106.94.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, January 27th. The specialty chemicals company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.06). PPG Industries had a return on equity of 22.67% and a net margin of 9.93%.The business had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the prior year, the business earned $1.61 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, research analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PPG. UBS Group lifted their price target on shares of PPG Industries from $110.00 to $122.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. KeyCorp restated a “sector weight” rating on shares of PPG Industries in a report on Thursday, January 29th. The Goldman Sachs Group lifted their target price on shares of PPG Industries from $118.00 to $132.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Royal Bank Of Canada increased their price target on PPG Industries from $109.00 to $115.00 and gave the company a “sector perform” rating in a report on Thursday, January 29th. Finally, JPMorgan Chase & Co. raised their price target on PPG Industries from $117.00 to $126.00 and gave the stock an “overweight” rating in a research note on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $124.79.

Insider Transactions at PPG Industries

In other PPG Industries news, VP Chancey E. Hagerty sold 2,250 shares of the company’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $115.59, for a total value of $260,077.50. Following the completion of the sale, the vice president owned 8,477 shares in the company, valued at $979,856.43. This represents a 20.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Vincent J. Morales sold 78,095 shares of the firm’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $131.00, for a total value of $10,230,445.00. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 115,217 shares of company stock valued at $14,771,523. Company insiders own 0.33% 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.