BI Asset Management Fondsmaeglerselskab A S Lowers Stake in PPG Industries, Inc. $PPG

BI Asset Management Fondsmaeglerselskab A S lessened its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 59.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,635 shares of the specialty chemicals company’s stock after selling 5,262 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in PPG Industries were worth $389,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in PPG Industries by 9.1% in the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock worth $487,000 after purchasing an additional 339 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in shares of PPG Industries by 31.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,849 shares of the specialty chemicals company’s stock worth $421,000 after buying an additional 920 shares during the last quarter. Empowered Funds LLC raised its stake in shares of PPG Industries by 6.1% during the 1st quarter. Empowered Funds LLC now owns 26,354 shares of the specialty chemicals company’s stock worth $2,882,000 after acquiring an additional 1,526 shares in the last quarter. Woodline Partners LP lifted its position in PPG Industries by 40.7% during the first quarter. Woodline Partners LP now owns 19,600 shares of the specialty chemicals company’s stock valued at $2,143,000 after acquiring an additional 5,667 shares during the last quarter. Finally, Cresset Asset Management LLC lifted its position in PPG Industries by 6.2% during the second quarter. Cresset Asset Management LLC now owns 6,346 shares of the specialty chemicals company’s stock valued at $722,000 after acquiring an additional 371 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

PPG Industries Price Performance

Shares of PPG opened at $122.28 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.61 and a quick ratio of 1.17. The company’s fifty day moving average price is $111.80 and its 200-day moving average price is $111.06. PPG Industries, Inc. has a 1-year low of $93.39 and a 1-year high of $133.43. The firm has a market capitalization of $27.26 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 1.77 and a beta of 1.06.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.05. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.The company had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.85 billion. During the same quarter last year, the business posted $1.72 EPS. The firm’s quarterly 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, equities research analysts predict that PPG Industries, Inc. will post 7.92 EPS for the current year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, May 11th were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.3%. PPG Industries’s payout ratio is 40.51%.

Analysts Set New Price Targets

Several research firms have issued reports on PPG. UBS Group lifted their price target 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. JPMorgan Chase & Co. lowered their price objective on PPG Industries from $126.00 to $125.00 in a research report on Thursday, April 30th. Royal Bank Of Canada restated a “sector perform” rating and set a $119.00 target price on shares of PPG Industries in a research note on Wednesday, June 10th. Mizuho upped their target price on PPG Industries from $115.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Finally, Jefferies Financial Group decreased their price target on PPG Industries from $125.00 to $116.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. Six research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, PPG Industries currently has a consensus rating of “Hold” and an average target price of $123.73.

PPG Industries Company 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.