Westpac Banking Corp Sells 27,740 Shares of PPG Industries, Inc. $PPG

Westpac Banking Corp decreased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 90.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,847 shares of the specialty chemicals company’s stock after selling 27,740 shares during the period. Westpac Banking Corp’s holdings in PPG Industries were worth $292,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Dorato Capital Management purchased a new stake in PPG Industries in the 4th quarter worth approximately $26,000. Quarry LP purchased a new stake in shares of PPG Industries in the third quarter worth $26,000. Kohmann Bosshard Financial Services LLC purchased a new position in PPG Industries during the fourth quarter worth about $51,000. Entrust Financial LLC bought a new position in PPG Industries in the 4th quarter worth about $55,000. Finally, Cornerstone Planning Group LLC raised its holdings in shares of PPG Industries by 2,500.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 572 shares of the specialty chemicals company’s stock valued at $60,000 after acquiring an additional 550 shares in the last quarter. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PPG. Wells Fargo & Company cut their price objective on PPG Industries from $135.00 to $130.00 and set an “overweight” rating for the company in a report on Friday, April 10th. Royal Bank Of Canada raised their price objective on shares of PPG Industries from $114.00 to $119.00 and gave the company a “sector perform” rating in a research report on Thursday, April 16th. The Goldman Sachs Group decreased their price target on shares of PPG Industries from $134.00 to $130.00 in a research note on Friday, May 1st. Citigroup raised their target price on shares of PPG Industries from $113.00 to $114.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Finally, BNP Paribas Exane upped their price target on PPG Industries from $115.00 to $116.00 in a research report on Thursday, April 30th. Five investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $121.79.

PPG Industries Trading Up 0.6%

Shares of PPG stock opened at $112.11 on Friday. The firm has a fifty day moving average price of $108.33 and a 200-day moving average price of $109.01. PPG Industries, Inc. has a 1 year low of $93.39 and a 1 year high of $133.43. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.61 and a quick ratio of 1.17. The company has a market cap of $24.99 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 1.63 and a beta of 1.06.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data 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 firm had revenue of $3.93 billion for the quarter, compared to the consensus estimate of $3.85 billion. During the same quarter last year, the company earned $1.72 earnings per share. The business’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. As a group, equities analysts predict that PPG Industries, Inc. will post 7.93 earnings per share for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Monday, May 11th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, May 11th. This represents a $2.84 dividend on an annualized basis and a yield of 2.5%. PPG Industries’s dividend payout ratio (DPR) is currently 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.