Burgundy Asset Management Ltd. Sells 9,264 Shares of PPG Industries, Inc. $PPG

Burgundy Asset Management Ltd. lessened its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 1.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 814,635 shares of the specialty chemicals company’s stock after selling 9,264 shares during the period. Burgundy Asset Management Ltd.’s holdings in PPG Industries were worth $90,612,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PPG. Steigerwald Gordon & Koch Inc. acquired a new position in PPG Industries during the 3rd quarter worth about $26,000. Root Financial Partners LLC bought a new position in shares of PPG Industries in the third quarter worth about $30,000. Vermillion & White Wealth Management Group LLC lifted its position in shares of PPG Industries by 100.7% during the second 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 shares of PPG Industries by 184.0% during the second quarter. Rothschild Investment LLC now owns 284 shares of the specialty chemicals company’s stock valued at $32,000 after purchasing an additional 184 shares during the last quarter. Finally, Addison Advisors LLC grew its stake in shares of PPG Industries by 1,515.8% during the second quarter. Addison Advisors LLC now owns 307 shares of the specialty chemicals company’s stock valued at $35,000 after purchasing an additional 288 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

Insider Activity at PPG Industries

In other PPG Industries news, VP Chancey E. Hagerty sold 2,250 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $115.59, for a total transaction of $260,077.50. Following the transaction, the vice president owned 8,477 shares of the company’s stock, valued at $979,856.43. The trade was a 20.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vincent J. Morales sold 78,095 shares of the firm’s stock in a transaction on 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 quarter, insiders have sold 118,811 shares of company stock valued at $15,219,371. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Sanford C. Bernstein upped their price objective on PPG Industries from $123.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Zacks Research raised PPG Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, January 23rd. Bank of America lowered their price objective on PPG Industries from $118.00 to $116.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. The Goldman Sachs Group upped 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. Finally, Evercore lifted their price target on shares of PPG Industries from $112.00 to $128.00 in a research report on Wednesday, February 18th. 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 company. According to MarketBeat.com, PPG Industries presently has an average rating of “Hold” and an average price target of $125.93.

PPG Industries Stock Performance

PPG stock opened at $117.75 on Thursday. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $133.43. The company has a current ratio of 1.62, a quick ratio of 1.22 and a debt-to-equity ratio of 0.82. The firm has a market cap of $26.32 billion, a PE ratio of 16.97, a P/E/G ratio of 1.77 and a beta of 1.15. The business’s 50-day moving average price is $116.04 and its two-hundred day moving average price is $107.83.

PPG Industries (NYSE:PPG) last released 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). The firm had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.77 billion. PPG Industries had a return on equity of 22.30% and a net margin of 9.93%.The company’s revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company earned $1.61 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, research analysts forecast that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 20th will be issued a $0.71 dividend. The ex-dividend date is Friday, February 20th. This represents a $2.84 annualized dividend and a dividend yield of 2.4%. PPG Industries’s dividend payout ratio (DPR) is presently 40.92%.

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.