Wolverine Asset Management LLC Acquires New Shares in PPG Industries, Inc. $PPG

Wolverine Asset Management LLC acquired a new stake in PPG Industries, Inc. (NYSE:PPG) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 9,500 shares of the specialty chemicals company’s stock, valued at approximately $973,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP lifted its holdings in PPG Industries by 19.9% in the 3rd quarter. Wellington Management Group LLP now owns 15,159,770 shares of the specialty chemicals company’s stock worth $1,593,443,000 after purchasing an additional 2,521,004 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in PPG Industries by 12.7% in the 3rd quarter. First Eagle Investment Management LLC now owns 6,263,829 shares of the specialty chemicals company’s stock worth $658,391,000 after purchasing an additional 703,549 shares during the last quarter. Franklin Resources Inc. lifted its holdings in PPG Industries by 39.4% in the 3rd quarter. Franklin Resources Inc. now owns 4,695,477 shares of the specialty chemicals company’s stock worth $493,542,000 after purchasing an additional 1,326,619 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in PPG Industries by 15.7% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 3,946,145 shares of the specialty chemicals company’s stock worth $414,779,000 after purchasing an additional 535,095 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in PPG Industries by 2.2% in the 3rd quarter. Invesco Ltd. now owns 3,398,513 shares of the specialty chemicals company’s stock worth $357,218,000 after purchasing an additional 72,692 shares during the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Insider Transactions at PPG Industries

In other news, CFO Vincent J. Morales sold 78,095 shares of the company’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $131.00, for a total transaction of $10,230,445.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Anne M. Foulkes sold 3,594 shares of the company’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $124.61, for a total transaction of $447,848.34. Following the transaction, the vice president directly owned 15,641 shares of the company’s stock, valued at $1,949,025.01. This represents a 18.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.33% of the stock is currently owned by corporate insiders.

PPG Industries Stock Up 2.2%

Shares of PPG stock opened at $106.40 on Wednesday. PPG Industries, Inc. has a 12 month low of $93.39 and a 12 month high of $133.43. The firm has a market cap of $23.72 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 1.52 and a beta of 1.06. The stock has a 50 day moving average of $109.04 and a 200-day moving average of $107.57. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 0.78.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.05. The company had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.85 billion. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.72 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, equities analysts predict that PPG Industries, Inc. will post 7.92 EPS for the current year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Monday, May 11th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, May 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.7%. PPG Industries’s dividend payout ratio is currently 40.51%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their target price on PPG Industries from $120.00 to $130.00 in a report on Friday, March 27th. Sanford C. Bernstein boosted their target price on shares of PPG Industries from $123.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Wells Fargo & Company cut their target price on shares of PPG Industries from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday, April 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of PPG Industries in a research report on Wednesday, January 28th. Finally, KeyCorp reissued a “sector weight” rating on shares of PPG Industries in a research report on Thursday, January 29th. Six research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, PPG Industries currently has an average rating of “Hold” and a consensus price target of $121.79.

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.