Meyer Handelman Co. Sells 5,040 Shares of PPG Industries, Inc. $PPG

Meyer Handelman Co. lessened its holdings in PPG Industries, Inc. (NYSE:PPG) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 161,223 shares of the specialty chemicals company’s stock after selling 5,040 shares during the quarter. Meyer Handelman Co. owned 0.07% of PPG Industries worth $16,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Wellington Management Group LLP boosted its holdings in shares of 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 buying an additional 2,521,004 shares during the last quarter. State Street Corp increased its holdings in PPG Industries by 6.3% during the second quarter. State Street Corp now owns 12,624,828 shares of the specialty chemicals company’s stock worth $1,436,074,000 after buying an additional 749,081 shares during the last quarter. First Eagle Investment Management LLC raised its position in PPG Industries by 12.7% in the third quarter. First Eagle Investment Management LLC now owns 6,263,829 shares of the specialty chemicals company’s stock worth $658,391,000 after acquiring an additional 703,549 shares during the period. Franklin Resources Inc. raised its position in PPG Industries by 39.4% in the third quarter. Franklin Resources Inc. now owns 4,695,477 shares of the specialty chemicals company’s stock worth $493,542,000 after acquiring an additional 1,326,619 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in PPG Industries by 15.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 3,946,145 shares of the specialty chemicals company’s stock valued at $414,779,000 after acquiring an additional 535,095 shares during the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Performance

NYSE PPG opened at $107.08 on Wednesday. The company’s 50 day moving average is $115.22 and its 200-day moving average is $106.85. PPG Industries, Inc. has a 12-month low of $90.24 and a 12-month high of $133.43. The company has a quick ratio of 1.22, a current ratio of 1.62 and a debt-to-equity ratio of 0.82. The firm has a market cap of $23.96 billion, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 1.57 and a beta of 1.15.

PPG Industries (NYSE:PPG) last released 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). PPG Industries had a return on equity of 22.30% and a net margin of 9.93%.The business had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.77 billion. During the same period last year, the business posted $1.61 earnings per share. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Sell-side analysts predict 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 was paid on Thursday, March 12th. Stockholders of record on Friday, February 20th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, February 20th. PPG Industries’s dividend payout ratio (DPR) is presently 40.92%.

Insider Activity

In related news, VP Anne M. Foulkes sold 3,594 shares of the stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $124.61, for a total transaction of $447,848.34. Following the sale, the vice president owned 15,641 shares of the company’s stock, valued at approximately $1,949,025.01. This represents a 18.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 118,811 shares of company stock worth $15,219,371. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PPG has been the subject of a number of research reports. The Goldman Sachs Group increased their target price on shares of PPG Industries from $118.00 to $132.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Mizuho dropped their price objective on PPG Industries from $140.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, March 23rd. JPMorgan Chase & Co. increased their price objective on PPG Industries from $117.00 to $126.00 and gave the company an “overweight” rating in a report on Thursday, January 29th. Jefferies Financial Group raised their target price on PPG Industries from $115.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, January 29th. Finally, BNP Paribas Exane lowered their target price on PPG Industries from $113.00 to $112.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 14th. 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’s stock. According to MarketBeat.com, PPG Industries currently has an average rating of “Moderate Buy” and an average price target of $124.07.

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.