Cullen Frost Bankers Inc. Sells 18,600 Shares of PPG Industries, Inc. $PPG

Cullen Frost Bankers Inc. trimmed its position in PPG Industries, Inc. (NYSE:PPG) by 71.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,452 shares of the specialty chemicals company’s stock after selling 18,600 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in PPG Industries were worth $764,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PPG. Quarry LP bought a new position in PPG Industries in the third quarter valued at approximately $26,000. Dorato Capital Management bought a new position in PPG Industries in the fourth quarter valued at approximately $26,000. Root Financial Partners LLC bought a new position in PPG Industries in the third quarter valued at approximately $30,000. Kohmann Bosshard Financial Services LLC bought a new stake in shares of PPG Industries during the fourth quarter worth $51,000. Finally, Entrust Financial LLC bought a new stake in shares of PPG Industries during the fourth quarter worth $55,000. 81.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PPG shares. KeyCorp reaffirmed a “sector weight” rating on shares of PPG Industries in a research note on Thursday, January 29th. Wells Fargo & Company decreased their target price on shares of PPG Industries from $135.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of PPG Industries from $120.00 to $130.00 in a research note on Friday, March 27th. Jefferies Financial Group decreased their target price on shares of PPG Industries from $125.00 to $116.00 and set a “hold” rating on the stock in a research note on Thursday, March 26th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of PPG Industries in a research note on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, PPG Industries currently has a consensus rating of “Hold” and a consensus target price of $121.79.

PPG Industries Price Performance

Shares of NYSE:PPG opened at $107.90 on Friday. The firm has a market cap of $24.05 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 1.56 and a beta of 1.06. The firm’s fifty day moving average is $106.45 and its 200-day moving average is $107.94. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.17 and a current ratio of 1.61. PPG Industries, Inc. has a 52 week low of $93.39 and a 52 week high of $133.43.

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 for the quarter, compared to analyst estimates of $3.85 billion. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. PPG Industries’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.72 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Sell-side analysts predict that PPG Industries, Inc. will post 7.93 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Monday, May 11th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Monday, May 11th. PPG Industries’s payout ratio is 40.51%.

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.