UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in shares of PPG Industries, Inc. (NYSE:PPG – Free Report) by 0.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,049,929 shares of the specialty chemicals company’s stock after selling 6,956 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in PPG Industries were worth $248,636,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of PPG Industries by 9.1% in the 4th quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock worth $487,000 after acquiring an additional 339 shares during the last quarter. Integrated Wealth Concepts LLC lifted its position in shares of PPG Industries by 31.4% in the first quarter. Integrated Wealth Concepts LLC now owns 3,849 shares of the specialty chemicals company’s stock worth $421,000 after purchasing an additional 920 shares in the last quarter. Empowered Funds LLC lifted its position in PPG Industries by 6.1% in the 1st quarter. Empowered Funds LLC now owns 26,354 shares of the specialty chemicals company’s stock worth $2,882,000 after buying an additional 1,526 shares in the last quarter. Woodline Partners LP raised its holdings in shares of PPG Industries by 40.7% during the first quarter. Woodline Partners LP now owns 19,600 shares of the specialty chemicals company’s stock worth $2,143,000 after acquiring an additional 5,667 shares in the last quarter. Finally, Cresset Asset Management LLC raised its stake in shares of PPG Industries by 6.2% during the 2nd quarter. Cresset Asset Management LLC now owns 6,346 shares of the specialty chemicals company’s stock worth $722,000 after purchasing an additional 371 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.
Wall Street Analysts Forecast Growth
PPG has been the subject of a number of analyst reports. BMO Capital Markets reduced their target price on shares of PPG Industries from $140.00 to $138.00 and set an “outperform” rating for the company in a research note on Monday, July 6th. Wall Street Zen downgraded shares of PPG Industries from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Royal Bank Of Canada reduced their price objective on shares of PPG Industries from $129.00 to $122.00 and set a “sector perform” rating for the company in a research note on Thursday, July 30th. Citigroup decreased their price objective on shares of PPG Industries from $125.00 to $121.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Finally, Weiss Ratings raised shares of PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Seven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, PPG Industries presently has an average rating of “Hold” and an average target price of $126.00.
PPG Industries Trading Down 1.5%
Shares of PPG stock opened at $112.48 on Tuesday. PPG Industries, Inc. has a 12 month low of $93.39 and a 12 month high of $133.43. The company has a quick ratio of 1.15, a current ratio of 1.58 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $116.64 and its two-hundred day moving average is $113.48. The company has a market cap of $25.00 billion, a PE ratio of 16.11, a price-to-earnings-growth ratio of 1.66 and a beta of 1.07.
PPG Industries (NYSE:PPG – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.02). The firm had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.37 billion. PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.PPG Industries’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.22 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Equities analysts predict that PPG Industries, Inc. will post 7.88 EPS for the current year.
PPG Industries Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 10th will be given a dividend of $0.74 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $2.96 dividend on an annualized basis and a yield of 2.6%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.71. PPG Industries’s dividend payout ratio (DPR) is presently 42.41%.
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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