Arbejdsmarkedets Tillaegspension Purchases New Stake in PPG Industries, Inc. $PPG

Key Points

• Arbejdsmarkedets Tillaegspension opened a new position in PPG Industries during Q1, buying 121,170 shares valued at about $12.95 million.
• PPG reported better-than-expected quarterly results, with EPS of $1.83 versus the $1.78 estimate and revenue of $3.93 billion, up 6.7% year over year.
• Analysts currently have a Hold consensus on PPG, with an average price target of $124.93, while the stock also offers a quarterly dividend of $0.71 per share.

Arbejdsmarkedets Tillaegspension purchased a new position in PPG Industries, Inc. (NYSE:PPG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 121,170 shares of the specialty chemicals company's stock, valued at approximately $12,951,000. Arbejdsmarkedets Tillaegspension owned about 0.05% of PPG Industries as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PPG. Procyon Advisors LLC raised its position in PPG Industries by 5.4% during the 1st quarter. Procyon Advisors LLC now owns 14,907 shares of the specialty chemicals company's stock valued at $1,593,000 after purchasing an additional 766 shares during the last quarter. Global Assets Advisory LLC bought a new stake in shares of PPG Industries in the 1st quarter worth approximately $65,000. Fifth Third Bancorp increased its stake in shares of PPG Industries by 460.5% during the first quarter. Fifth Third Bancorp now owns 118,943 shares of the specialty chemicals company's stock valued at $12,713,000 after buying an additional 97,723 shares during the period. Candriam S.C.A. increased its stake in shares of PPG Industries by 48.2% during the first quarter. Candriam S.C.A. now owns 18,337 shares of the specialty chemicals company's stock valued at $1,960,000 after buying an additional 5,968 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in shares of PPG Industries by 24.4% during 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 in the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

PPG Industries Price Performance

PPG opened at $113.85 on Tuesday. The stock has a fifty day simple moving average of $114.19 and a two-hundred day simple moving average of $112.57. The company has a current ratio of 1.61, a quick ratio of 1.17 and a debt-to-equity ratio of 0.78. The company has a market cap of $25.38 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 1.70 and a beta of 1.05. PPG Industries, Inc. has a 12-month low of $93.39 and a 12-month 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 EPS for the quarter, beating 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 business had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.85 billion. During the same quarter last year, the firm posted $1.72 earnings per share. The company's revenue for the quarter was up 6.7% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Research analysts predict that PPG Industries, Inc. will post 7.93 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, May 11th were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 2.5%. PPG Industries's dividend payout ratio (DPR) is currently 40.51%.

Wall Street Analysts Forecast Growth

PPG has been the topic of several recent analyst reports. Royal Bank Of Canada lifted their price target on shares of PPG Industries from $119.00 to $129.00 and gave the company a "sector perform" rating in a report on Wednesday, July 8th. Weiss Ratings upgraded shares of PPG Industries from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, June 17th. BNP Paribas Exane lifted their target price on shares of PPG Industries from $115.00 to $116.00 in a research note on Thursday, April 30th. BMO Capital Markets reduced their price target on shares of PPG Industries from $140.00 to $138.00 and set an "outperform" rating on the stock in a research report on Monday, July 6th. Finally, JPMorgan Chase & Co. decreased their price target on shares of PPG Industries from $126.00 to $125.00 in a research note on Thursday, April 30th. Six analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, PPG Industries currently has a consensus rating of "Hold" and an average price target of $124.93.

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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