PPG Industries, Inc. $PPG Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia cut its stake in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 65.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 31,265 shares of the specialty chemicals company's stock after selling 59,236 shares during the period. Bank of Nova Scotia's holdings in PPG Industries were worth $3,342,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. CNB Bank grew its stake in PPG Industries by 1.8% during the 4th quarter. CNB Bank now owns 4,514 shares of the specialty chemicals company's stock valued at $463,000 after acquiring an additional 80 shares in the last quarter. IFP Advisors Inc lifted its stake in PPG Industries by 2.7% in the 4th quarter. IFP Advisors Inc now owns 3,302 shares of the specialty chemicals company's stock worth $338,000 after purchasing an additional 87 shares in the last quarter. Whittier Trust Co. lifted its stake in PPG Industries by 1.4% in the 4th quarter. Whittier Trust Co. now owns 6,658 shares of the specialty chemicals company's stock worth $703,000 after purchasing an additional 89 shares in the last quarter. Evolve Private Wealth LLC boosted its holdings in shares of PPG Industries by 3.2% during the 1st quarter. Evolve Private Wealth LLC now owns 2,929 shares of the specialty chemicals company's stock worth $313,000 after purchasing an additional 92 shares during the last quarter. Finally, Insigneo Advisory Services LLC grew its position in shares of PPG Industries by 4.3% in the fourth quarter. Insigneo Advisory Services LLC now owns 2,234 shares of the specialty chemicals company's stock valued at $229,000 after purchasing an additional 92 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

PPG Industries Stock Up 0.4%

Shares of NYSE PPG opened at $118.93 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 0.78. The business's 50 day moving average is $116.43 and its two-hundred day moving average is $113.55. PPG Industries, Inc. has a 52-week low of $93.39 and a 52-week high of $133.43. The firm has a market cap of $26.51 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 1.74 and a beta of 1.05.

PPG Industries (NYSE:PPG - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.02). PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.The firm had revenue of $4.50 billion for the quarter, compared to analysts' expectations of $4.37 billion. During the same quarter in the prior year, the business earned $2.22 earnings per share. The company's quarterly revenue was up 7.2% 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 EPS for the current year.

PPG Industries Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms recently commented on PPG. The Goldman Sachs Group cut their price target on PPG Industries from $134.00 to $130.00 in a report on Friday, May 1st. Wells Fargo & Company dropped their target price on PPG Industries from $135.00 to $130.00 and set an "overweight" rating for the company in a report on Friday, April 10th. BMO Capital Markets cut their target price on PPG Industries from $140.00 to $138.00 and set an "outperform" rating for the company in a research note on Monday, July 6th. BNP Paribas Exane lifted their price target on PPG Industries from $115.00 to $116.00 in a report on Thursday, April 30th. Finally, Weiss Ratings raised shares of PPG Industries from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, June 17th. Seven research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $126.13.

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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