PNC Financial Services Group Inc. lowered its stake in shares of PPG Industries, Inc. (NYSE:PPG – Free Report) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 835,914 shares of the specialty chemicals company’s stock after selling 21,526 shares during the quarter. PNC Financial Services Group Inc. owned about 0.38% of PPG Industries worth $89,342,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of PPG. Nvest Wealth Strategies Inc. bought a new position in PPG Industries during the fourth quarter valued at about $505,000. Cooke & Bieler LP lifted its position in shares of 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 period. Equity Investment Corp grew its holdings in shares of PPG Industries by 3.4% during the 4th quarter. Equity Investment Corp now owns 995,323 shares of the specialty chemicals company’s stock worth $101,981,000 after purchasing an additional 32,337 shares in the last quarter. Mather Group LLC. grew its holdings in shares of PPG Industries by 10.3% during the 4th quarter. Mather Group LLC. now owns 142,340 shares of the specialty chemicals company’s stock worth $14,584,000 after purchasing an additional 13,254 shares in the last quarter. Finally, Entropy Technologies LP increased its position in shares of PPG Industries by 80.2% during the fourth quarter. Entropy Technologies LP now owns 61,784 shares of the specialty chemicals company’s stock valued at $6,330,000 after purchasing an additional 27,493 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on PPG shares. Bank of America raised PPG Industries from a “neutral” rating to a “buy” rating and raised their target price for the stock from $127.00 to $134.00 in a research report on Friday, July 17th. JPMorgan Chase & Co. dropped their price objective on shares of PPG Industries from $126.00 to $125.00 in a research note on Thursday, April 30th. Citigroup raised their price objective on shares of PPG Industries from $114.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. UBS Group lifted their target price on shares of PPG Industries from $110.00 to $116.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Finally, Royal Bank Of Canada upped their target price on shares of PPG Industries from $119.00 to $129.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 8th. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $126.13.
PPG Industries Trading Up 1.5%
Shares of NYSE PPG opened at $117.40 on Thursday. PPG Industries, Inc. has a 1-year low of $93.39 and a 1-year high of $133.43. The company has a 50-day moving average of $115.36 and a two-hundred day moving average of $113.21. The company has a market cap of $26.17 billion, a PE ratio of 16.75, a P/E/G ratio of 1.67 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 – Get Free Report) last released its quarterly earnings results 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. The business had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.85 billion. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. PPG Industries’s revenue was up 6.7% compared to the same quarter last year. 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 analysts expect that PPG Industries, Inc. will post 7.94 earnings per share for the current fiscal year.
PPG Industries Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be given a dividend of $0.74 per share. The ex-dividend date is Monday, August 10th. This is an increase from PPG Industries’s previous quarterly dividend of $0.71. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.5%. PPG Industries’s dividend 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.
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