QRG Capital Management Inc. Purchases 13,251 Shares of PPG Industries, Inc. $PPG

Key Points

• QRG Capital Management increased its stake in PPG Industries by 254.8% in the first quarter, buying 13,251 additional shares and bringing its total holdings to 18,452 shares worth about $1.97 million.
• Analyst sentiment on PPG remains mixed: several firms nudged price targets higher or lower, but the overall consensus rating is still Hold with a consensus target price of $124.27.
• PPG reported solid quarterly results, with EPS of $1.83 and revenue of $3.93 billion, both beating expectations, while also paying a quarterly dividend of $0.71 per share.

QRG Capital Management Inc. lifted its position in shares of PPG Industries, Inc. (NYSE:PPG - Free Report) by 254.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 18,452 shares of the specialty chemicals company's stock after acquiring an additional 13,251 shares during the quarter. QRG Capital Management Inc.'s holdings in PPG Industries were worth $1,972,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on PPG shares. Deutsche Bank Aktiengesellschaft boosted their price objective on PPG Industries from $120.00 to $130.00 in a research note on Friday, March 27th. The Goldman Sachs Group reduced their target price on PPG Industries from $134.00 to $130.00 in a report on Friday, May 1st. BNP Paribas Exane upped their price target on PPG Industries from $115.00 to $116.00 in a research report on Thursday, April 30th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $119.00 price target on shares of PPG Industries in a report on Wednesday, June 10th. Finally, Wells Fargo & Company cut their price objective on shares of PPG Industries from $135.00 to $130.00 and set an "overweight" rating for the company in a research report on Friday, April 10th. Six equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $124.27.

PPG Industries Price Performance

Shares of PPG stock traded down $1.15 on Tuesday, reaching $122.89. The company's stock had a trading volume of 103,334 shares, compared to its average volume of 2,109,139. The company has a market capitalization of $27.39 billion, a P/E ratio of 17.52, a PEG ratio of 1.83 and a beta of 1.05. PPG Industries, Inc. has a 12-month low of $93.39 and a 12-month high of $133.43. The stock's 50 day simple moving average is $113.12 and its 200-day simple moving average is $111.96. 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 posted its 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 return on equity of 21.68% and a net margin of 9.83%.The business had revenue of $3.93 billion during 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. The firm's revenue was up 6.7% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, equities analysts predict that PPG Industries, Inc. will post 7.93 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, May 11th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Monday, May 11th. PPG Industries's dividend payout ratio is 40.51%.

PPG Industries 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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