KBC Group NV Trims Holdings in PPG Industries, Inc. $PPG

Key Points

• KBC Group NV reduced its PPG Industries stake by 28.1% in the first quarter, selling 25,568 shares and leaving it with 65,316 shares valued at about $6.98 million.
• PPG Industries reported better-than-expected quarterly results, posting EPS of $1.83 versus the $1.78 consensus and revenue of $3.93 billion versus expectations of $3.85 billion, with revenue up 6.7% year over year.
• The company also raised its quarterly dividend to $0.74 per share from $0.71, while analysts currently have a consensus Hold rating and an average price target of $126.13.

KBC Group NV cut its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 28.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,316 shares of the specialty chemicals company's stock after selling 25,568 shares during the quarter. KBC Group NV's holdings in PPG Industries were worth $6,981,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PPG. Dorato Capital Management acquired a new position in PPG Industries in the 4th quarter valued at $26,000. Quarry LP acquired a new stake in shares of PPG Industries during the third quarter worth $26,000. Resources Management Corp CT ADV boosted its holdings in shares of PPG Industries by 900.0% during the fourth quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company's stock worth $26,000 after purchasing an additional 225 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of PPG Industries in the fourth quarter valued at $30,000. Finally, DV Equities LLC acquired a new position in PPG Industries in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 81.86% of the company's stock.

PPG Industries Stock Performance

PPG Industries stock opened at $117.40 on Thursday. The stock's 50-day moving average is $115.36 and its 200-day moving average is $113.21. The company has a market cap of $26.17 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 1.67 and a beta of 1.05. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.61 and a quick ratio of 1.17. 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 issued its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.78 by $0.05. The business had revenue of $3.93 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.72 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Equities analysts anticipate that PPG Industries, Inc. will post 7.94 earnings per share for the current year.

PPG Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Monday, August 10th will be paid a dividend of $0.74 per share. This is an increase from PPG Industries's previous quarterly dividend of $0.71. This represents a $2.96 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, August 10th. PPG Industries's payout ratio is presently 40.51%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PPG shares. Mizuho raised their price target on PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 1st. BMO Capital Markets dropped their price objective 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. UBS Group boosted their target price on shares of PPG Industries from $110.00 to $116.00 and gave the company a "neutral" rating in a report on Thursday, April 30th. Citigroup upped their price target on shares of PPG Industries from $114.00 to $125.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 24th. Finally, Weiss Ratings upgraded shares of PPG Industries from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, June 17th. Seven equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $126.13.

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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