Hsbc Holdings PLC Has $67.43 Million Stock Position in PPG Industries, Inc. $PPG

Key Points

• Hsbc Holdings PLC reduced its stake in PPG Industries by 10.7% in Q1, now holding 618,977 shares valued at approximately $67.4 million.
• PPG's quarterly dividend was increased to $0.71 per share, representing an annualized yield of 2.5%, with the ex-dividend date set for August 11th.
• Analysts have varied opinions on PPG, with a consensus rating of "Moderate Buy" and a target price averaging $129.82.

Hsbc Holdings PLC decreased its position in PPG Industries, Inc. (NYSE:PPG - Free Report) by 10.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 618,977 shares of the specialty chemicals company's stock after selling 74,465 shares during the quarter. Hsbc Holdings PLC owned 0.27% of PPG Industries worth $67,426,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Envestnet Asset Management Inc. grew its holdings in shares of PPG Industries by 0.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 249,755 shares of the specialty chemicals company's stock worth $27,311,000 after purchasing an additional 1,697 shares during the last quarter. Clear Creek Financial Management LLC bought a new stake in shares of PPG Industries in the 1st quarter worth about $240,000. Principal Financial Group Inc. grew its holdings in shares of PPG Industries by 4.4% in the 1st quarter. Principal Financial Group Inc. now owns 302,962 shares of the specialty chemicals company's stock worth $33,129,000 after purchasing an additional 12,650 shares during the last quarter. Meridian Wealth Management LLC grew its holdings in PPG Industries by 311.2% during the 1st quarter. Meridian Wealth Management LLC now owns 7,665 shares of the specialty chemicals company's stock worth $838,000 after acquiring an additional 5,801 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its holdings in PPG Industries by 966.3% during the 1st quarter. Golden State Wealth Management LLC now owns 885 shares of the specialty chemicals company's stock worth $97,000 after acquiring an additional 802 shares during the last quarter. Institutional investors own 81.86% of the company's stock.

PPG Industries Stock Down 1.8%

PPG stock traded down $2.0910 during mid-day trading on Monday, hitting $112.1790. 1,161,618 shares of the company were exchanged, compared to its average volume of 2,054,458. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.42. The firm has a market cap of $25.32 billion, a P/E ratio of 25.44, a P/E/G ratio of 2.36 and a beta of 1.17. The firm's 50 day simple moving average is $112.46 and its 200 day simple moving average is $110.65. PPG Industries, Inc. has a 1-year low of $90.24 and a 1-year high of $137.24.

PPG Industries (NYSE:PPG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The specialty chemicals company reported $2.22 EPS for the quarter, hitting the consensus estimate of $2.22. The firm had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $4.16 billion. PPG Industries had a net margin of 6.25% and a return on equity of 23.85%. The business's quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the company posted $2.50 EPS. PPG Industries has set its FY 2025 guidance at 7.750-8.050 EPS. On average, sell-side analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current fiscal year.

PPG Industries Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Monday, August 11th will be issued a dividend of $0.71 per share. This is an increase from PPG Industries's previous quarterly dividend of $0.68. The ex-dividend date is Monday, August 11th. This represents a $2.84 annualized dividend and a yield of 2.5%. PPG Industries's dividend payout ratio is 64.40%.

Wall Street Analysts Forecast Growth

PPG has been the topic of a number of research reports. Fermium Researc upgraded shares of PPG Industries to a "strong-buy" rating in a research report on Thursday, May 1st. Wells Fargo & Company upped their target price on shares of PPG Industries from $125.00 to $135.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft upped their target price on shares of PPG Industries from $125.00 to $140.00 and gave the company a "buy" rating in a research report on Monday, May 12th. UBS Group upped their target price on shares of PPG Industries from $111.00 to $125.00 and gave the company a "neutral" rating in a research report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. cut their target price on shares of PPG Industries from $115.00 to $105.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, PPG Industries currently has an average rating of "Moderate Buy" and an average price target of $129.82.

PPG Industries Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.