Handelsbanken Fonder AB lessened its holdings in shares of PPG Industries, Inc. (NYSE:PPG – Free Report) by 25.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 65,667 shares of the specialty chemicals company’s stock after selling 21,889 shares during the quarter. Handelsbanken Fonder AB’s holdings in PPG Industries were worth $6,728,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. ProShare Advisors LLC boosted its position in PPG Industries by 6.6% during the 4th quarter. ProShare Advisors LLC now owns 1,600,226 shares of the specialty chemicals company’s stock worth $163,959,000 after acquiring an additional 98,430 shares during the period. HighTower Advisors LLC boosted its position in PPG Industries by 25.6% during the 4th quarter. HighTower Advisors LLC now owns 90,256 shares of the specialty chemicals company’s stock worth $9,248,000 after acquiring an additional 18,416 shares during the period. Entrust Financial LLC acquired a new position in PPG Industries during the 4th quarter worth $55,000. TD Private Client Wealth LLC boosted its position in PPG Industries by 20.3% during the 4th quarter. TD Private Client Wealth LLC now owns 10,239 shares of the specialty chemicals company’s stock worth $1,049,000 after acquiring an additional 1,727 shares during the period. Finally, North Dakota State Investment Board acquired a new position in PPG Industries during the 4th quarter worth $1,393,000. Institutional investors and hedge funds own 81.86% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have issued reports on PPG. Zacks Research upgraded PPG Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, January 23rd. The Goldman Sachs Group reduced their price target on PPG Industries from $134.00 to $130.00 in a research report on Friday, May 1st. Mizuho boosted their price target on PPG Industries from $115.00 to $125.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. KeyCorp reiterated a “sector weight” rating on shares of PPG Industries in a research report on Thursday, January 29th. Finally, JPMorgan Chase & Co. cut their price objective on PPG Industries from $126.00 to $125.00 in a report on Thursday, April 30th. Five equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $121.79.
PPG Industries Trading Up 1.2%
Shares of PPG Industries stock opened at $107.90 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 0.78. The firm has a market cap of $24.05 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 1.56 and a beta of 1.06. The business has a fifty day simple moving average of $106.45 and a 200-day simple moving average of $107.94. PPG Industries, Inc. has a fifty-two week low of $93.39 and a fifty-two week high of $133.43.
PPG Industries (NYSE:PPG – Get Free Report) last announced 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 business had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.85 billion. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.The company’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.72 earnings per share. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, equities analysts forecast that PPG Industries, Inc. will post 7.93 EPS for the current fiscal year.
PPG Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Monday, May 11th will be issued a $0.71 dividend. The ex-dividend date is Monday, May 11th. This represents a $2.84 annualized dividend and a dividend yield of 2.6%. PPG Industries’s dividend payout ratio is 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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