Prospector Partners LLC Sells 6,417 Shares of PPG Industries, Inc. $PPG

Prospector Partners LLC trimmed its position in shares of PPG Industries, Inc. (NYSE:PPG) by 4.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 130,717 shares of the specialty chemicals company’s stock after selling 6,417 shares during the quarter. PPG Industries comprises about 1.6% of Prospector Partners LLC’s investment portfolio, making the stock its 22nd largest holding. Prospector Partners LLC owned approximately 0.06% of PPG Industries worth $13,740,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Steigerwald Gordon & Koch Inc. purchased a new position in PPG Industries in the third quarter worth $26,000. Vermillion & White Wealth Management Group LLC boosted its position in shares of PPG Industries by 100.7% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 273 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 137 shares in the last quarter. Rothschild Investment LLC grew its stake in PPG Industries by 184.0% during the 2nd quarter. Rothschild Investment LLC now owns 284 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 184 shares during the last quarter. Root Financial Partners LLC acquired a new position in PPG Industries during the 3rd quarter valued at about $30,000. Finally, Addison Advisors LLC raised its stake in PPG Industries by 1,515.8% in the second quarter. Addison Advisors LLC now owns 307 shares of the specialty chemicals company’s stock valued at $35,000 after buying an additional 288 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

PPG Industries stock opened at $128.24 on Thursday. The stock has a market capitalization of $28.78 billion, a P/E ratio of 18.48, a P/E/G ratio of 1.94 and a beta of 1.16. The company’s fifty day moving average price is $112.17 and its 200 day moving average price is $106.82. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.47. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $133.43.

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 analysts’ consensus estimates of $1.57 by ($0.06). PPG Industries had a net margin of 9.93% and a return on equity of 22.67%. The company had revenue of $3.91 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the business posted $1.61 earnings per share. The company’s quarterly 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. As a group, equities research analysts anticipate that PPG Industries, Inc. will post 7.95 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Friday, February 20th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Friday, February 20th. PPG Industries’s dividend payout ratio is currently 40.92%.

Wall Street Analysts Forecast Growth

PPG has been the topic of several recent analyst reports. Berenberg Bank cut their price objective on shares of PPG Industries from $131.00 to $110.00 and set a “hold” rating on the stock in a report on Thursday, December 4th. Bank of America dropped 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 report on Thursday, January 8th. Mizuho raised their price target on shares of PPG Industries from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of PPG Industries in a report on Wednesday, January 28th. Finally, BNP Paribas Exane reduced their target price on PPG Industries from $113.00 to $112.00 and set a “neutral” rating for the company in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $124.79.

Insider Buying and Selling at PPG Industries

In other news, VP Chancey E. Hagerty sold 2,250 shares of the firm’s stock in a transaction dated 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 directly owned 8,477 shares of the company’s stock, valued at approximately $979,856.43. This trade represents a 20.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 115,217 shares of company stock valued at $14,771,523. 0.33% of the stock is owned by corporate insiders.

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.