VELA Investment Management LLC Increases Stake in PPG Industries, Inc. $PPG

VELA Investment Management LLC increased its holdings in PPG Industries, Inc. (NYSE:PPG) by 171.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,361 shares of the specialty chemicals company’s stock after acquiring an additional 7,806 shares during the quarter. VELA Investment Management LLC’s holdings in PPG Industries were worth $1,299,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC lifted its position in shares of PPG Industries by 127.6% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 125 shares during the period. Steigerwald Gordon & Koch Inc. bought a new position in PPG Industries in the third quarter worth approximately $26,000. Root Financial Partners LLC purchased a new stake in PPG Industries during the third quarter worth $30,000. Gladwyn Financial Advisors Inc. bought a new stake in PPG Industries during the 2nd quarter valued at $31,000. Finally, Vermillion & White Wealth Management Group LLC increased its holdings 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 valued at $31,000 after acquiring an additional 137 shares during the period. Hedge funds and other institutional investors own 81.86% of the company’s stock.

Insiders Place Their Bets

In other PPG Industries news, CFO Vincent J. Morales sold 5,200 shares of the stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $110.00, for a total transaction of $572,000.00. Following the sale, the chief financial officer directly owned 28,439 shares of the company’s stock, valued at approximately $3,128,290. This trade represents a 15.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Citigroup upped their price objective on PPG Industries from $116.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Berenberg Bank decreased their price target 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. BNP Paribas Exane cut their price objective on shares of PPG Industries from $113.00 to $112.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 14th. Zacks Research cut shares of PPG Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, November 10th. Finally, Mizuho cut their price target on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, PPG Industries currently has a consensus rating of “Hold” and a consensus target price of $120.86.

PPG Industries Stock Up 3.2%

Shares of PPG stock opened at $112.45 on Thursday. PPG Industries, Inc. has a fifty-two week low of $90.24 and a fifty-two week high of $124.74. The firm has a market capitalization of $25.23 billion, a PE ratio of 25.50, a P/E/G ratio of 3.24 and a beta of 1.17. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.47. The stock’s 50-day simple moving average is $102.72 and its 200-day simple moving average is $105.69.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.04. PPG Industries had a return on equity of 23.61% and a net margin of 6.35%.The firm had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same quarter in the prior year, the firm earned $2.13 earnings per share. PPG Industries’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 analysts expect that PPG Industries, Inc. will post 7.95 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Friday, February 20th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, February 20th. PPG Industries’s dividend payout ratio is presently 64.40%.

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.