PPG Industries, Inc. $PPG Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC cut its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 12.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 97,302 shares of the specialty chemicals company’s stock after selling 13,930 shares during the quarter. Voya Investment Management LLC’s holdings in PPG Industries were worth $10,227,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PPG. Norges Bank acquired a new stake in shares of PPG Industries in the second quarter worth approximately $362,412,000. Holocene Advisors LP grew its stake in shares of PPG Industries by 342.8% during the 2nd quarter. Holocene Advisors LP now owns 1,688,870 shares of the specialty chemicals company’s stock valued at $192,109,000 after buying an additional 1,307,468 shares during the period. First Eagle Investment Management LLC raised its position in shares of PPG Industries by 21.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 5,560,280 shares of the specialty chemicals company’s stock worth $632,482,000 after buying an additional 971,799 shares during the period. Burgundy Asset Management Ltd. acquired a new position in PPG Industries in the second quarter valued at $93,719,000. Finally, State Street Corp grew its position 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 valued at $1,436,074,000 after acquiring an additional 749,081 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

PPG opened at $102.67 on Wednesday. PPG Industries, Inc. has a twelve month low of $90.24 and a twelve month high of $124.74. The company has a current ratio of 1.47, a quick ratio of 1.08 and a debt-to-equity ratio of 0.74. The firm has a market cap of $23.04 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 2.84 and a beta of 1.16. The company has a fifty day simple moving average of $99.86 and a 200 day simple moving average of $106.59.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.04. PPG Industries had a net margin of 6.35% and a return on equity of 23.61%. The company had revenue of $4.08 billion during the quarter, compared to analysts’ expectations of $4.06 billion. During the same period in the prior year, the company posted $2.13 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Equities research analysts expect that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Monday, November 10th were issued a dividend of $0.71 per share. The ex-dividend date was Monday, November 10th. This represents a $2.84 annualized dividend and a yield of 2.8%. PPG Industries’s payout ratio is currently 64.40%.

Analysts Set New Price Targets

PPG has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of PPG Industries in a research note on Friday, October 31st. Wells Fargo & Company reduced their price target on shares of PPG Industries from $132.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Berenberg Bank dropped their price objective on shares of PPG Industries from $131.00 to $110.00 and set a “hold” rating for the company in a research report on Thursday, December 4th. Zacks Research downgraded shares of PPG Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, November 10th. Finally, UBS Group decreased their price target on shares of PPG Industries from $115.00 to $110.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $122.54.

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.