Danske Bank A S Acquires New Stake in PPG Industries, Inc. $PPG

Danske Bank A S acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG) in the second quarter, Holdings Channel reports. The firm acquired 156,978 shares of the specialty chemicals company’s stock, valued at approximately $19,040,000.

Several other hedge funds have also added to or reduced their stakes in PPG. Wealthfront Advisers LLC purchased a new position in shares of PPG Industries in the 2nd quarter worth about $2,163,000. Foster & Motley Inc. bought a new position in PPG Industries in the 2nd quarter worth about $315,000. Equity Investment Corp purchased a new stake in PPG Industries during the 2nd quarter valued at about $136,573,000. Aljian Capital Management LLC purchased a new stake in PPG Industries during the 2nd quarter valued at about $262,000. Finally, Alpine Woods Capital Investors LLC bought a new stake in PPG Industries during the 2nd quarter valued at about $3,992,000. 81.86% of the stock is owned by institutional investors.

PPG Industries Price Performance

NYSE PPG opened at $112.53 on Friday. PPG Industries, Inc. has a one year low of $93.39 and a one year high of $133.43. The stock has a 50-day moving average of $117.42 and a 200 day moving average of $114.01. The company has a market capitalization of $25.02 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.65 and a beta of 1.07. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.58.

PPG Industries (NYSE:PPG) last issued its earnings results 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 during the quarter, compared to analysts’ expectations of $4.37 billion. PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.PPG Industries’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $2.22 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, sell-side analysts forecast that PPG Industries, Inc. will post 7.89 EPS for the current year.

PPG Industries Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. BNP Paribas Exane lifted their target price on shares of PPG Industries from $115.00 to $116.00 in a report on Thursday, April 30th. Citigroup cut their price target on shares of PPG Industries from $125.00 to $121.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Mizuho raised their price target on shares of PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Royal Bank Of Canada decreased 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 report on Thursday, July 30th. Finally, Bank of America raised PPG Industries from a “neutral” rating to a “buy” rating and upped their price objective for the company from $127.00 to $134.00 in a research report on Friday, July 17th. Seven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, PPG Industries has a consensus rating of “Hold” and an average target price of $126.00.

PPG Industries Company 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.