Handelsbanken Fonder AB Trims Stock Position in PPG Industries, Inc. $PPG

Handelsbanken Fonder AB decreased its stake in shares of PPG Industries, Inc. (NYSE:PPG) by 18.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 60,836 shares of the specialty chemicals company’s stock after selling 13,447 shares during the quarter. Handelsbanken Fonder AB’s holdings in PPG Industries were worth $7,379,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. State Street Corp lifted its position in PPG Industries by 4.6% during the fourth quarter. State Street Corp now owns 12,829,677 shares of the specialty chemicals company’s stock worth $1,314,529,000 after buying an additional 565,523 shares during the period. Pzena Investment Management LLC grew its stake in shares of PPG Industries by 5.4% during the 1st quarter. Pzena Investment Management LLC now owns 7,478,646 shares of the specialty chemicals company’s stock valued at $799,318,000 after buying an additional 379,879 shares during the period. Franklin Resources Inc. lifted its stake in shares of PPG Industries by 48.9% in 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 purchasing an additional 2,295,118 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in shares of PPG Industries by 0.4% during the 4th quarter. First Eagle Investment Management LLC now owns 6,290,622 shares of the specialty chemicals company’s stock worth $644,537,000 after purchasing an additional 26,793 shares during the period. Finally, Geode Capital Management LLC raised its holdings in PPG Industries by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 5,809,127 shares of the specialty chemicals company’s stock valued at $592,859,000 after buying an additional 135,529 shares during the period. 81.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PPG shares. BNP Paribas Exane increased their target price on PPG Industries from $115.00 to $116.00 in a research note on Thursday, April 30th. Citigroup decreased their price target on PPG Industries from $125.00 to $121.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Royal Bank Of Canada lowered their price objective on shares of PPG Industries from $129.00 to $122.00 and set a “sector perform” rating for the company in a research report on Thursday, July 30th. Mizuho upped their target price on shares of PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Finally, JPMorgan Chase & Co. lowered their price target on shares of PPG Industries from $126.00 to $125.00 in a report on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, PPG Industries currently has a consensus rating of “Hold” and a consensus price target of $126.00.

PPG Industries Stock Down 0.7%

PPG stock opened at $113.98 on Friday. The firm has a market cap of $25.34 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 1.67 and a beta of 1.07. PPG Industries, Inc. has a 1-year low of $93.39 and a 1-year high of $133.43. The firm has a fifty day moving average price of $117.59 and a two-hundred day moving average price of $114.03. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.58 and a quick ratio of 1.15.

PPG Industries (NYSE:PPG) last announced its quarterly earnings data on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.02). The business had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.37 billion. PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. PPG Industries’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.22 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Research analysts predict that PPG Industries, Inc. will post 7.89 EPS for the current year.

PPG Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Monday, August 10th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.71. PPG Industries’s payout ratio is currently 42.41%.

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.