PPG Industries, Inc. $PPG Stake Reduced by Financiere des Professionnels Fonds d investissement inc.

Key Points

• Financiere des Professionnels Fonds d’investissement inc. sharply reduced its PPG Industries stake by 96.2% in the first quarter, leaving it with 1,700 shares worth about $182,000.
• PPG Industries reported better-than-expected Q1 earnings, posting $1.83 EPS on $3.93 billion in revenue, both above analyst forecasts, and raised revenue 6.7% year over year.
• The company increased its quarterly dividend to $0.74 per share from $0.71, and analysts currently rate the stock a consensus Hold with an average price target of $126.13.

Financiere des Professionnels Fonds d investissement inc. cut its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 96.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,700 shares of the specialty chemicals company's stock after selling 42,486 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.'s holdings in PPG Industries were worth $182,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. CNB Bank boosted its position in shares of PPG Industries by 1.8% during the fourth quarter. CNB Bank now owns 4,514 shares of the specialty chemicals company's stock worth $463,000 after buying an additional 80 shares during the period. IFP Advisors Inc increased its position 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 valued at $338,000 after acquiring an additional 87 shares during the period. Whittier Trust Co. increased its position 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 valued at $703,000 after acquiring an additional 89 shares during the period. Evolve Private Wealth LLC raised its stake in 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 valued at $313,000 after acquiring an additional 92 shares in the last quarter. Finally, Insigneo Advisory Services LLC raised its stake in PPG Industries by 4.3% during the 4th quarter. Insigneo Advisory Services LLC now owns 2,234 shares of the specialty chemicals company's stock valued at $229,000 after acquiring an additional 92 shares in the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Trading Down 1.1%

Shares of PPG stock opened at $117.39 on Friday. The stock has a 50-day simple moving average of $114.79 and a 200 day simple moving average of $112.87. PPG Industries, Inc. has a fifty-two week low of $93.39 and a fifty-two week high of $133.43. The stock has a market capitalization of $26.17 billion, a P/E ratio of 16.75, a P/E/G ratio of 1.72 and a beta of 1.05. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 0.78.

PPG Industries (NYSE:PPG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 EPS 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 firm had revenue of $3.93 billion for the quarter, compared to analysts' expectations of $3.85 billion. During the same period in the previous year, the business earned $1.72 earnings per share. PPG Industries's revenue for the quarter was up 6.7% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, sell-side analysts expect that PPG Industries, Inc. will post 7.94 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The firm 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 $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, August 10th. This is an increase from PPG Industries's previous quarterly dividend of $0.71. PPG Industries's payout ratio is presently 42.23%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PPG. Wells Fargo & Company lowered their price target on PPG Industries from $135.00 to $130.00 and set an "overweight" rating on the stock in a report on Friday, April 10th. Deutsche Bank Aktiengesellschaft increased their target price on shares of PPG Industries from $120.00 to $130.00 in a research report on Friday, March 27th. BMO Capital Markets dropped their price target on shares of PPG Industries from $140.00 to $138.00 and set an "outperform" rating on the stock in a research report on Monday, July 6th. Mizuho increased their price objective on shares of PPG Industries from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Wednesday, July 1st. Finally, BNP Paribas Exane increased their price objective on shares of PPG Industries from $115.00 to $116.00 in a report on Thursday, April 30th. Seven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $126.13.

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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