Hsbc Holdings PLC Has $60.22 Million Stock Position in PPG Industries, Inc. $PPG

Key Points

• HSBC Holdings PLC cut its stake in PPG Industries by 17% in the fourth quarter, but still held 587,330 shares valued at about $60.2 million.
• Institutional ownership remains high, with hedge funds and other investors holding 81.86% of PPG’s stock; several firms, including Wellington Management and State Street, increased their positions.
• PPG’s latest quarter beat earnings and revenue expectations, reporting EPS of $1.83 on revenue of $3.93 billion, while the stock traded around $118.92 and paid a quarterly dividend of $0.71.

Hsbc Holdings PLC lowered its holdings in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 17.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 587,330 shares of the specialty chemicals company's stock after selling 120,272 shares during the period. Hsbc Holdings PLC owned 0.26% of PPG Industries worth $60,222,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PPG. Wellington Management Group LLP raised its stake in PPG Industries by 19.9% in the 3rd quarter. Wellington Management Group LLP now owns 15,159,770 shares of the specialty chemicals company's stock valued at $1,593,443,000 after acquiring an additional 2,521,004 shares during the period. State Street Corp boosted its position in PPG Industries by 4.6% during the fourth quarter. State Street Corp now owns 12,829,677 shares of the specialty chemicals company's stock worth $1,314,529,000 after purchasing an additional 565,523 shares during the period. Pzena Investment Management LLC increased its holdings in shares of PPG Industries by 306.2% in the fourth quarter. Pzena Investment Management LLC now owns 7,098,767 shares of the specialty chemicals company's stock valued at $727,340,000 after purchasing an additional 5,351,103 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of PPG Industries by 48.9% in the fourth quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company's stock valued at $716,256,000 after purchasing an additional 2,295,118 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its position in shares of PPG Industries by 0.4% in the fourth quarter. First Eagle Investment Management LLC now owns 6,290,622 shares of the specialty chemicals company's stock valued at $644,537,000 after purchasing an additional 26,793 shares during the period. Institutional investors and hedge funds own 81.86% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PPG shares. Weiss Ratings upgraded shares of PPG Industries from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, June 17th. Jefferies Financial Group lowered their price target on shares of PPG Industries from $125.00 to $116.00 and set a "hold" rating on the stock in a report on Thursday, March 26th. Wells Fargo & Company cut their price objective on shares of PPG Industries from $135.00 to $130.00 and set an "overweight" rating for the company in a research report on Friday, April 10th. BNP Paribas Exane boosted their price objective on PPG Industries from $115.00 to $116.00 in a report on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on PPG Industries from $120.00 to $130.00 in a research report on Friday, March 27th. Six research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $123.00.

PPG Industries Trading Up 0.6%

PPG stock opened at $118.92 on Tuesday. PPG Industries, Inc. has a 52 week low of $93.39 and a 52 week high of $133.43. The company has a market capitalization of $26.51 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 1.73 and a beta of 1.06. The company's 50-day simple moving average is $111.19 and its 200 day simple moving average is $110.65. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.17 and a current ratio of 1.61.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.05. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The business had revenue of $3.93 billion during the quarter, compared to analysts' expectations of $3.85 billion. During the same quarter in the previous year, the company earned $1.72 EPS. The business's revenue was up 6.7% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, sell-side analysts anticipate that PPG Industries, Inc. will post 7.92 earnings per share for the current year.

PPG Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, May 11th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Monday, May 11th. PPG Industries's payout ratio is 40.51%.

PPG Industries Company 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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