PPG Industries, Inc. $PPG Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its stake in PPG Industries, Inc. (NYSE:PPG) by 6.0% in the second quarter, HoldingsChannel reports. The firm owned 686,686 shares of the specialty chemicals company’s stock after selling 43,936 shares during the quarter. Hsbc Holdings PLC’s holdings in PPG Industries were worth $83,242,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cooke & Bieler LP increased its position in shares of PPG Industries by 16.7% in the 4th quarter. Cooke & Bieler LP now owns 1,616,672 shares of the specialty chemicals company’s stock valued at $165,644,000 after purchasing an additional 231,537 shares during the last quarter. Bank of Nova Scotia acquired a new stake in shares of PPG Industries during the second quarter worth about $2,850,000. ProShare Advisors LLC increased its position in PPG Industries by 6.6% during the fourth quarter. ProShare Advisors LLC now owns 1,600,226 shares of the specialty chemicals company’s stock worth $163,959,000 after buying an additional 98,430 shares during the period. Equity Investment Corp raised its position in PPG Industries by 3.4% in the 4th quarter. Equity Investment Corp now owns 995,323 shares of the specialty chemicals company’s stock valued at $101,981,000 after purchasing an additional 32,337 shares during the last quarter. Finally, Entropy Technologies LP raised its holdings in shares of PPG Industries by 80.2% in the fourth quarter. Entropy Technologies LP now owns 61,784 shares of the specialty chemicals company’s stock valued at $6,330,000 after buying an additional 27,493 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PPG shares. Royal Bank Of Canada cut their price target on PPG Industries from $129.00 to $122.00 and set a “sector perform” rating for the company in a research note on Thursday, July 30th. BMO Capital Markets decreased their target price on shares of PPG Industries from $140.00 to $138.00 and set an “outperform” rating on the stock in a research report on Monday, July 6th. Weiss Ratings upgraded PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Mizuho increased their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Finally, Citigroup dropped their price target on PPG Industries from $125.00 to $121.00 and set a “neutral” rating for the company in a research report on Thursday, July 30th. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $126.00.

PPG Industries Stock Performance

Shares of PPG stock opened at $112.59 on Monday. The firm has a market capitalization of $25.03 billion, a price-to-earnings ratio of 16.13, a price-to-earnings-growth ratio of 1.82 and a beta of 1.07. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.58. The company has a 50 day moving average price of $115.83 and a 200 day moving average price of $112.92. PPG Industries, Inc. has a one year low of $93.39 and a one year high of $133.43.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.02). The firm had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.37 billion. PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. PPG Industries’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.22 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Sell-side analysts anticipate that PPG Industries, Inc. will post 7.89 EPS for the current year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be paid a $0.74 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from PPG Industries’s previous quarterly dividend of $0.71. PPG Industries’s payout ratio is 42.41%.

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.