Fifth Third Bancorp Has $12.71 Million Stake in PPG Industries, Inc. $PPG

Fifth Third Bancorp raised its position in PPG Industries, Inc. (NYSE:PPG) by 460.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 118,943 shares of the specialty chemicals company’s stock after buying an additional 97,723 shares during the quarter. Fifth Third Bancorp owned about 0.05% of PPG Industries worth $12,713,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Candriam S.C.A. lifted its holdings in shares of PPG Industries by 48.2% during the 1st quarter. Candriam S.C.A. now owns 18,337 shares of the specialty chemicals company’s stock worth $1,960,000 after acquiring an additional 5,968 shares during the period. Hsbc Holdings PLC increased its stake in PPG Industries by 24.4% in the first quarter. Hsbc Holdings PLC now owns 730,622 shares of the specialty chemicals company’s stock valued at $77,890,000 after acquiring an additional 143,292 shares during the last quarter. Resona Asset Management Co. Ltd. increased its stake in PPG Industries by 0.3% in the first quarter. Resona Asset Management Co. Ltd. now owns 90,142 shares of the specialty chemicals company’s stock valued at $9,538,000 after acquiring an additional 295 shares during the last quarter. Greenwood Capital Associates LLC acquired a new position in PPG Industries during the first quarter valued at approximately $1,292,000. Finally, Evergreen Private Wealth LLC acquired a new position in PPG Industries during the first quarter valued at approximately $120,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group reduced their target price on PPG Industries from $134.00 to $130.00 in a report on Friday, May 1st. Royal Bank Of Canada boosted their price target on PPG Industries from $119.00 to $129.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 8th. BMO Capital Markets dropped their price objective on PPG Industries from $140.00 to $138.00 and set an “outperform” rating for the company in a research report on Monday, July 6th. UBS Group raised their price objective on PPG Industries from $110.00 to $116.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings upgraded PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Six equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, PPG Industries currently has an average rating of “Hold” and an average target price of $124.93.

PPG Industries Price Performance

PPG Industries stock opened at $114.68 on Wednesday. The stock has a 50-day moving average price of $114.36 and a two-hundred day moving average price of $112.65. 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 $25.56 billion, a PE ratio of 16.36, a P/E/G ratio of 1.66 and a beta of 1.05. 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 released its quarterly earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $3.85 billion. During the same period in the previous year, the business posted $1.72 earnings per share. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Analysts expect that PPG Industries, Inc. will post 7.93 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, May 11th were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Monday, May 11th. PPG Industries’s payout ratio is presently 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.