PNC Financial Services Group Inc. Reduces Stock Holdings in PPG Industries, Inc. $PPG

Key Points

• PNC Financial Services Group trimmed its PPG Industries stake by 3.5% in the fourth quarter, selling 30,663 shares and ending with 857,440 shares valued at about $87.9 million.
• PPG reported better-than-expected first-quarter results, with EPS of $1.83 versus $1.78 expected and revenue of $3.93 billion, up 6.7% year over year. The company also reiterated FY 2026 guidance of $7.70 to $8.10 EPS.
• Analysts remain cautious overall: despite several target price changes, PPG’s consensus rating is Hold with an average target price of $121.79. The company also announced a quarterly dividend of $0.71 per share, yielding about 2.7%.

PNC Financial Services Group Inc. lowered its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 3.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 857,440 shares of the specialty chemicals company's stock after selling 30,663 shares during the quarter. PNC Financial Services Group Inc. owned 0.38% of PPG Industries worth $87,853,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Nvest Wealth Strategies Inc. bought a new stake in PPG Industries during the 4th quarter valued at about $505,000. First Eagle Investment Management LLC raised its stake in shares of PPG Industries by 12.7% during the third quarter. First Eagle Investment Management LLC now owns 6,263,829 shares of the specialty chemicals company's stock valued at $658,391,000 after acquiring an additional 703,549 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of PPG Industries by 1.5% in the third quarter. Dimensional Fund Advisors LP now owns 3,020,138 shares of the specialty chemicals company's stock valued at $317,421,000 after purchasing an additional 43,702 shares during the period. Wellington Management Group LLP boosted its holdings in shares of PPG Industries by 19.9% in the third quarter. Wellington Management Group LLP now owns 15,159,770 shares of the specialty chemicals company's stock valued at $1,593,443,000 after purchasing an additional 2,521,004 shares during the period. Finally, Rakuten Investment Management Inc. bought a new position in PPG Industries in the third quarter worth approximately $16,245,000. 81.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PPG shares. Jefferies Financial Group decreased their target price on PPG Industries from $125.00 to $116.00 and set a "hold" rating for the company in a research report on Thursday, March 26th. Evercore raised their price target on PPG Industries from $112.00 to $128.00 in a research note on Wednesday, February 18th. Wells Fargo & Company decreased their price objective on PPG Industries from $135.00 to $130.00 and set an "overweight" rating for the company in a report on Friday, April 10th. UBS Group increased their target price on shares of PPG Industries from $110.00 to $116.00 and gave the stock a "neutral" rating in a report on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of PPG Industries from $120.00 to $130.00 in a research report on Friday, March 27th. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat, PPG Industries presently has a consensus rating of "Hold" and an average target price of $121.79.

Insider Activity at PPG Industries

In related news, VP Anne M. Foulkes sold 3,594 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $124.61, for a total value of $447,848.34. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.33% of the stock is owned by insiders.

PPG Industries Stock Performance

Shares of PPG opened at $104.34 on Thursday. The company has a current ratio of 1.61, a quick ratio of 1.17 and a debt-to-equity ratio of 0.78. The firm has a market cap of $23.26 billion, a PE ratio of 14.88, a P/E/G ratio of 1.48 and a beta of 1.06. PPG Industries, Inc. has a 12 month low of $93.39 and a 12 month high of $133.43. The stock has a fifty day moving average price of $106.35 and a 200-day moving average price of $107.87.

PPG Industries (NYSE:PPG - Get Free Report) last announced its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.05. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.The firm had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same period in the previous year, the business earned $1.72 EPS. The firm's revenue for the quarter was up 6.7% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Equities research analysts predict that PPG Industries, Inc. will post 7.93 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Monday, May 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.7%. PPG Industries's dividend 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.

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