HITE Hedge Asset Management LLC Has $10.84 Million Stock Holdings in PPG Industries, Inc. $PPG

Key Points

• HITE Hedge Asset Management boosted its stake in PPG by 17.1% to 103,091 shares, valued at about $10.84 million after buying 15,039 shares in Q3.
• Company insiders have been net sellers recently — notably CFO Vincent J. Morales sold 78,095 shares (~$10.23M) and insiders sold 118,811 shares worth about $15.22M over the last 90 days.
• Analyst sentiment is mildly positive with a MarketBeat consensus of "Moderate Buy" and an average price target of $125.93, as several firms raised targets into the $122–$135 range.

HITE Hedge Asset Management LLC boosted its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 17.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 103,091 shares of the specialty chemicals company's stock after buying an additional 15,039 shares during the period. HITE Hedge Asset Management LLC's holdings in PPG Industries were worth $10,836,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Lazard Asset Management LLC boosted its holdings in shares of PPG Industries by 6.6% in the second quarter. Lazard Asset Management LLC now owns 1,576 shares of the specialty chemicals company's stock valued at $179,000 after buying an additional 97 shares during the period. G&S Capital LLC boosted its position in shares of PPG Industries by 1.9% during the third quarter. G&S Capital LLC now owns 5,620 shares of the specialty chemicals company's stock worth $591,000 after buying an additional 104 shares during the period. Columbia Bank grew its holdings in shares of PPG Industries by 1.0% during the third quarter. Columbia Bank now owns 10,951 shares of the specialty chemicals company's stock worth $1,090,000 after buying an additional 106 shares in the last quarter. Citizens Financial Group Inc. RI raised its position in PPG Industries by 0.5% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 22,716 shares of the specialty chemicals company's stock valued at $2,584,000 after buying an additional 107 shares during the last quarter. Finally, Groupe la Francaise raised its position in PPG Industries by 8.9% in the 2nd quarter. Groupe la Francaise now owns 1,304 shares of the specialty chemicals company's stock valued at $148,000 after buying an additional 107 shares during the last quarter. Institutional investors own 81.86% of the company's stock.

Insider Buying and Selling

In other news, VP Anne M. Foulkes sold 3,594 shares of the firm's stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $124.61, for a total value of $447,848.34. Following the completion of the sale, the vice president directly owned 15,641 shares of the company's stock, valued at $1,949,025.01. This trade represents a 18.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Vincent J. Morales sold 78,095 shares of PPG Industries stock in a transaction that occurred on 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 90 days, insiders sold 118,811 shares of company stock worth $15,219,371. Company insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

PPG has been the subject of several recent research reports. UBS Group increased their target price on shares of PPG Industries from $110.00 to $122.00 and gave the stock a "neutral" rating in a report on Thursday, January 29th. Sanford C. Bernstein lifted their price target on shares of PPG Industries from $123.00 to $130.00 and gave the company an "outperform" rating in a research note on Friday, January 30th. Wells Fargo & Company increased their price objective on shares of PPG Industries from $130.00 to $135.00 and gave the stock an "overweight" rating in a research note on Thursday, January 29th. The Goldman Sachs Group raised their price objective on PPG Industries from $118.00 to $132.00 and gave the company a "buy" rating in a report on Thursday, January 29th. Finally, Berenberg Bank lowered their target price on PPG Industries from $131.00 to $110.00 and set a "hold" rating on the stock in a research report on Thursday, December 4th. One investment 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 data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $125.93.

PPG Industries Stock Performance

NYSE PPG opened at $100.67 on Friday. The firm has a market capitalization of $22.53 billion, a P/E ratio of 14.51, a price-to-earnings-growth ratio of 1.57 and a beta of 1.15. 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's fifty day moving average price is $116.37 and its two-hundred day moving average price is $107.61. PPG Industries, Inc. has a 1 year low of $90.24 and a 1 year high of $133.43.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data on Tuesday, January 27th. The specialty chemicals company reported $1.51 EPS for the quarter, missing analysts' consensus estimates of $1.57 by ($0.06). The firm had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.77 billion. PPG Industries had a net margin of 9.93% and a return on equity of 22.30%. The business's revenue was up 5.0% on a year-over-year basis. During the same period last year, the business earned $1.61 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, research analysts anticipate that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Friday, February 20th were issued a dividend of $0.71 per share. The ex-dividend date was Friday, February 20th. This represents a $2.84 dividend on an annualized basis and a yield of 2.8%. PPG Industries's dividend payout ratio (DPR) is presently 40.92%.

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.

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