Handelsbanken Fonder AB Sells 13,447 Shares of PPG Industries, Inc. $PPG

Key Points

• Handelsbanken Fonder AB reduced its PPG Industries stake by 18.1% in the second quarter, selling 13,447 shares and retaining 60,836 shares valued at approximately $7.38 million. Institutional investors and hedge funds collectively own 81.86% of PPG.
• Analysts maintain a generally cautious view, with seven Buy ratings and ten Hold ratings and a consensus price target of $126. Several firms recently lowered their targets, while PPG shares opened at $113.98.
• PPG reported quarterly revenue of $4.50 billion, up 7.2% year over year, but EPS of $2.23 slightly missed estimates. The company raised its quarterly dividend to $0.74 per share, implying a 2.6% yield.

Handelsbanken Fonder AB lessened its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 18.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,836 shares of the specialty chemicals company's stock after selling 13,447 shares during the quarter. Handelsbanken Fonder AB's holdings in PPG Industries were worth $7,379,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Charles Schwab Trust Co increased its holdings in PPG Industries by 16.5% in the 2nd quarter. Charles Schwab Trust Co now owns 2,817 shares of the specialty chemicals company's stock worth $342,000 after buying an additional 400 shares during the period. Valeo Financial Advisors LLC acquired a new stake in PPG Industries during the 2nd quarter valued at approximately $234,000. Beaird Harris Wealth Management LLC purchased a new stake in shares of PPG Industries in the 2nd quarter valued at $42,000. Gradient Investments LLC purchased a new stake in shares of PPG Industries in the 2nd quarter valued at $211,000. Finally, Elevation Wealth Partners LLC increased its stake in shares of PPG Industries by 1,468.4% in the second quarter. Elevation Wealth Partners LLC now owns 298 shares of the specialty chemicals company's stock worth $36,000 after acquiring an additional 279 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PPG has been the topic of several research analyst reports. BNP Paribas Exane lifted their price objective on PPG Industries from $115.00 to $116.00 in a report on Thursday, April 30th. Citigroup decreased their target price on PPG Industries from $125.00 to $121.00 and set a "neutral" rating on the stock in a research report on Thursday, July 30th. Royal Bank Of Canada reduced their price objective on 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. BMO Capital Markets decreased their price objective on PPG Industries from $140.00 to $138.00 and set an "outperform" rating on the stock in a report on Monday, July 6th. Finally, UBS Group reduced their target price on shares of PPG Industries from $130.00 to $125.00 and set a "neutral" rating for the company in a research report on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $126.00.

PPG Industries Stock Down 0.7%

Shares of NYSE:PPG opened at $113.98 on Friday. The firm has a market capitalization of $25.34 billion, a PE ratio of 16.33, a price-to-earnings-growth ratio of 1.67 and a beta of 1.07. PPG Industries, Inc. has a 1 year low of $93.39 and a 1 year high of $133.43. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.58 and a quick ratio of 1.15. The firm's 50-day moving average is $117.59 and its two-hundred day moving average is $114.03.

PPG Industries (NYSE:PPG - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.02). PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. The company had revenue of $4.50 billion during the quarter, compared to analysts' expectations of $4.37 billion. During the same quarter in the previous year, the business posted $2.22 EPS. The business's quarterly revenue was up 7.2% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Analysts predict that PPG Industries, Inc. will post 7.89 EPS for the current year.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 2.6%. This is a boost from PPG Industries's previous quarterly dividend of $0.71. The ex-dividend date is Monday, August 10th. PPG Industries's dividend payout ratio (DPR) is currently 42.41%.

PPG Industries Profile

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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