PPG Industries, Inc. $PPG Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its stake in PPG Industries, Inc. (NYSE:PPG - Free Report) by 6.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 686,686 shares of the specialty chemicals company's stock after selling 43,936 shares during the quarter. Hsbc Holdings PLC owned about 0.31% of PPG Industries worth $83,242,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PPG. BlackRock Inc. purchased a new stake in PPG Industries in the 2nd quarter valued at $2,856,392,000. State Street Corp raised its holdings in shares of PPG Industries by 4.6% during the 4th quarter. State Street Corp now owns 12,829,677 shares of the specialty chemicals company's stock worth $1,314,529,000 after acquiring an additional 565,523 shares during the period. Pzena Investment Management LLC purchased a new position in shares of PPG Industries during the 2nd quarter worth $946,964,000. Franklin Resources Inc. boosted its position in shares of PPG Industries by 48.9% during the 4th quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company's stock valued at $716,256,000 after acquiring an additional 2,295,118 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its holdings 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. Hedge funds and other institutional investors own 81.86% of the company's stock.

PPG Industries Stock Up 0.1%

PPG Industries stock opened at $112.59 on Monday. The company has a market capitalization of $25.03 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 1.82 and a beta of 1.07. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.58. PPG Industries, Inc. has a fifty-two week low of $93.39 and a fifty-two week high of $133.43. The firm has a 50 day moving average price of $115.83 and a 200 day moving average price of $112.92.

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 analysts' consensus estimates of $2.25 by ($0.02). PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.The firm had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same quarter last year, the company earned $2.22 earnings per share. The firm's revenue for the quarter 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 expect that PPG Industries, Inc. will post 7.89 earnings per share for the current year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 10th will be issued a dividend of $0.74 per share. This is a positive change from PPG Industries's previous quarterly dividend of $0.71. The ex-dividend date is Monday, August 10th. This represents a $2.96 dividend on an annualized basis and a yield of 2.6%. PPG Industries's dividend payout ratio (DPR) is 42.41%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PPG. UBS Group cut their price objective 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. Royal Bank Of Canada dropped their price target on shares of 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 cut their price target on shares of PPG Industries from $140.00 to $138.00 and set an "outperform" rating for the company in a report on Monday, July 6th. 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. Finally, Citigroup decreased their price objective on PPG Industries from $125.00 to $121.00 and set a "neutral" rating on the stock in a report on Thursday, July 30th. Seven analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $126.00.

About PPG Industries

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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