Bank of New York Mellon Corp Lowers Stock Holdings in PPG Industries, Inc. $PPG

Bank of New York Mellon Corp trimmed its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 9.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,351,321 shares of the specialty chemicals company’s stock after selling 138,963 shares during the period. Bank of New York Mellon Corp’s holdings in PPG Industries were worth $138,456,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PPG. Nvest Wealth Strategies Inc. purchased a new position in PPG Industries in the 4th quarter worth approximately $505,000. First Eagle Investment Management LLC raised its holdings in PPG Industries by 12.7% in the 3rd quarter. First Eagle Investment Management LLC now owns 6,263,829 shares of the specialty chemicals company’s stock worth $658,391,000 after acquiring an additional 703,549 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in PPG Industries by 1.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,020,138 shares of the specialty chemicals company’s stock worth $317,421,000 after acquiring an additional 43,702 shares during the last quarter. Cooke & Bieler LP raised its holdings in 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 worth $165,644,000 after acquiring an additional 231,537 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in PPG Industries by 19.9% during the 3rd 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 buying an additional 2,521,004 shares during the last quarter. 81.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company decreased their target price on shares of PPG Industries from $135.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday, April 10th. Evercore boosted their price objective on shares of PPG Industries from $112.00 to $128.00 in a research report on Wednesday, February 18th. Mizuho boosted their price objective on shares of PPG Industries from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Weiss Ratings downgraded shares of PPG Industries from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday. Finally, Royal Bank Of Canada boosted their price objective on shares of PPG Industries from $114.00 to $119.00 and gave the company a “sector perform” rating in a research report on Thursday, April 16th. Five equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $121.79.

PPG Industries Trading Up 1.9%

Shares of PPG Industries stock opened at $114.08 on Friday. The company has a market capitalization of $25.43 billion, a P/E ratio of 16.27, a P/E/G ratio of 1.66 and a beta of 1.06. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.17 and a current ratio of 1.61. The company has a fifty day moving average of $108.47 and a 200 day moving average of $109.04. PPG Industries, Inc. has a fifty-two week low of $93.39 and a fifty-two week high of $133.43.

PPG Industries (NYSE:PPG) last released its quarterly earnings data on Tuesday, April 28th. The specialty chemicals company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.78 by $0.05. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The business had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter in the prior year, the firm earned $1.72 EPS. The business’s revenue was up 6.7% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, sell-side analysts anticipate 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. Shareholders of record on Monday, May 11th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, May 11th. 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.