Assenagon Asset Management S.A. Lowers Position in PPG Industries, Inc. $PPG

Assenagon Asset Management S.A. cut its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 28.2% during the 1st quarter, Holdings Channel.com reports. The fund owned 74,738 shares of the specialty chemicals company’s stock after selling 29,372 shares during the period. Assenagon Asset Management S.A.’s holdings in PPG Industries were worth $7,988,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Quarry LP purchased a new stake in shares of PPG Industries in the third quarter valued at about $26,000. Dorato Capital Management purchased a new position in PPG Industries during the fourth quarter worth about $26,000. Resources Management Corp CT ADV grew its position in PPG Industries by 900.0% in the 4th quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 225 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in PPG Industries in the 4th quarter valued at about $30,000. Finally, DV Equities LLC purchased a new stake in PPG Industries in the 4th quarter valued at about $32,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PPG has been the topic of several research analyst reports. UBS Group boosted their price objective on PPG Industries from $110.00 to $116.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. decreased their target price on PPG Industries from $126.00 to $125.00 in a research report on Thursday, April 30th. Weiss Ratings upgraded PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, June 17th. BMO Capital Markets boosted their price target on shares of PPG Industries from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. Finally, Wells Fargo & Company reduced their price target on shares of PPG Industries from $135.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday, April 10th. Six equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $123.73.

PPG Industries Trading Down 0.0%

Shares of PPG opened at $123.23 on Monday. The business has a 50-day moving average of $112.11 and a 200 day moving average of $111.22. PPG Industries, Inc. has a fifty-two week low of $93.39 and a fifty-two week high of $133.43. The firm has a market cap of $27.47 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 1.80 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.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.05. The business had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.85 billion. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.72 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, research analysts forecast that PPG Industries, Inc. will post 7.92 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, May 11th were given a $0.71 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.3%. PPG Industries’s payout ratio is 40.51%.

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.