Hsbc Holdings PLC Sells 120,272 Shares of PPG Industries, Inc. $PPG

Hsbc Holdings PLC lessened its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 17.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 587,330 shares of the specialty chemicals company’s stock after selling 120,272 shares during the quarter. Hsbc Holdings PLC’s holdings in PPG Industries were worth $60,222,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PPG. Nvest Wealth Strategies Inc. bought a new position in PPG Industries during the 4th quarter worth about $505,000. Cooke & Bieler LP boosted its position in shares of PPG Industries by 16.7% during the fourth quarter. Cooke & Bieler LP now owns 1,616,672 shares of the specialty chemicals company’s stock worth $165,644,000 after buying an additional 231,537 shares during the period. Wellington Management Group LLP raised its position in PPG Industries by 19.9% in 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. Mather Group LLC. raised its position in PPG Industries by 10.3% in the 4th quarter. Mather Group LLC. now owns 142,340 shares of the specialty chemicals company’s stock valued at $14,584,000 after buying an additional 13,254 shares during the last quarter. Finally, Equity Investment Corp lifted its stake 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 acquiring an additional 32,337 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PPG. Deutsche Bank Aktiengesellschaft upped their price target on PPG Industries from $120.00 to $130.00 in a research report on Friday, March 27th. 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 research report on Monday, June 15th. Royal Bank Of Canada restated a “sector perform” rating and set a $119.00 price objective on shares of PPG Industries in a research note on Wednesday, June 10th. Weiss Ratings upgraded PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Finally, The Goldman Sachs Group dropped their target price on PPG Industries from $134.00 to $130.00 in a report on Friday, May 1st. Six investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $124.40.

PPG Industries Stock Performance

Shares of NYSE PPG opened at $125.30 on Monday. PPG Industries, Inc. has a 12 month low of $93.39 and a 12 month high of $133.43. The company has a market capitalization of $27.93 billion, a P/E ratio of 17.87, a P/E/G ratio of 1.83 and a beta of 1.05. The stock has a 50 day moving average of $113.12 and a 200-day moving average of $111.96. The company has a current ratio of 1.61, a quick ratio of 1.17 and a debt-to-equity ratio of 0.78.

PPG Industries (NYSE:PPG) last issued its quarterly earnings data on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.05. The company had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.85 billion. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The company’s revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.72 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, equities research analysts predict that PPG Industries, Inc. will post 7.93 EPS for the current year.

PPG Industries Announces Dividend

The company also recently declared 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. This represents a $2.84 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Monday, May 11th. PPG Industries’s dividend payout ratio (DPR) is presently 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.