Nykredit A S Invests $87.59 Million in PPG Industries, Inc. $PPG

Key Points

• Nykredit A/S acquired 722,178 shares of PPG Industries in the second quarter, valued at approximately $87.6 million and representing about 0.32% of the company. Institutional investors collectively own 81.86% of PPG’s stock.
• Analyst sentiment is mixed, with eight Buy ratings and nine Hold ratings; the consensus rating is Hold with a target price of $126.44.
• PPG reported $4.50 billion in quarterly revenue, up 7.2% year over year, while EPS of $2.23 slightly missed expectations. The company raised its quarterly dividend to $0.74 per share, equating to an annualized yield of about 2.8%.

Nykredit A S bought a new stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 722,178 shares of the specialty chemicals company's stock, valued at approximately $87,593,000. Nykredit A S owned approximately 0.32% of PPG Industries as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Corient Private Wealth LP raised its holdings in PPG Industries by 1.4% in the 2nd quarter. Corient Private Wealth LP now owns 170,492 shares of the specialty chemicals company's stock worth $20,679,000 after purchasing an additional 2,314 shares in the last quarter. Amundi boosted its stake in shares of PPG Industries by 1.9% during the 2nd quarter. Amundi now owns 761,243 shares of the specialty chemicals company's stock valued at $92,331,000 after purchasing an additional 14,449 shares in the last quarter. Strategic Financial Services Inc. bought a new stake in shares of PPG Industries during the 2nd quarter valued at about $203,000. Wedmont Private Capital purchased a new position in shares of PPG Industries during the second quarter valued at about $239,000. Finally, HB Wealth Management LLC raised its stake in PPG Industries by 4.6% in the second quarter. HB Wealth Management LLC now owns 10,293 shares of the specialty chemicals company's stock worth $1,248,000 after buying an additional 448 shares in the last quarter. Hedge funds and other institutional investors own 81.86% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on PPG shares. Mizuho raised their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the stock an "outperform" rating in a report on Wednesday, July 1st. Royal Bank Of Canada decreased their target price on PPG Industries from $129.00 to $122.00 and set a "sector perform" rating for the company in a research report on Thursday, July 30th. UBS Group lowered their target price on PPG Industries from $130.00 to $125.00 and set a "neutral" rating for the company in a research note on Thursday, July 30th. KeyCorp initiated coverage on PPG Industries in a research report on Friday, September 11th. They set an "overweight" rating and a $133.00 price target on the stock. Finally, Citigroup decreased their price objective on PPG Industries from $125.00 to $121.00 and set a "neutral" rating for the company in a report on Thursday, July 30th. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $126.44.

PPG Industries Stock Up 0.4%

Shares of NYSE:PPG opened at $105.43 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.15 and a debt-to-equity ratio of 0.72. The stock has a fifty day simple moving average of $113.24 and a two-hundred day simple moving average of $111.73. PPG Industries, Inc. has a 12-month low of $93.39 and a 12-month high of $133.43. The stock has a market capitalization of $23.44 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 1.70 and a beta of 1.07.

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

PPG Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Monday, August 10th were paid a dividend of $0.74 per share. The ex-dividend date was Monday, August 10th. This represents a $2.96 dividend on an annualized basis and a yield of 2.8%. This is an increase from PPG Industries's previous quarterly dividend of $0.71. PPG Industries's dividend payout ratio (DPR) is 42.41%.

About PPG Industries

PPG Industries, Inc is a global manufacturer of paints, coatings and specialty materials. The company supplies protective and decorative coatings used in automotive, aerospace, industrial, marine, packaging and consumer applications. Its products are designed to protect surfaces, improve appearance and provide specialized performance characteristics such as corrosion resistance and durability.

PPG's portfolio includes automotive refinish coatings, original-equipment automotive coatings, aerospace coatings, industrial and protective coatings, packaging coatings, and architectural paints and coatings.

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