Lansforsakringar Fondforvaltning AB publ Grows Position in PPG Industries, Inc. $PPG

Lansforsakringar Fondforvaltning AB publ boosted its position in shares of PPG Industries, Inc. (NYSE:PPG) by 13.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 79,427 shares of the specialty chemicals company’s stock after acquiring an additional 9,544 shares during the quarter. Lansforsakringar Fondforvaltning AB publ’s holdings in PPG Industries were worth $8,489,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PPG. Brighton Jones LLC raised its holdings in shares of PPG Industries by 9.1% in the fourth quarter. Brighton Jones LLC now owns 4,075 shares of the specialty chemicals company’s stock worth $487,000 after buying an additional 339 shares during the period. Integrated Wealth Concepts LLC grew its position in PPG Industries by 31.4% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,849 shares of the specialty chemicals company’s stock valued at $421,000 after acquiring an additional 920 shares during the last quarter. Empowered Funds LLC increased its stake in PPG Industries by 6.1% in the first quarter. Empowered Funds LLC now owns 26,354 shares of the specialty chemicals company’s stock worth $2,882,000 after purchasing an additional 1,526 shares during the period. Woodline Partners LP increased its stake in PPG Industries by 40.7% in the first quarter. Woodline Partners LP now owns 19,600 shares of the specialty chemicals company’s stock worth $2,143,000 after purchasing an additional 5,667 shares during the period. Finally, Cresset Asset Management LLC lifted its position in shares of PPG Industries by 6.2% during the second quarter. Cresset Asset Management LLC now owns 6,346 shares of the specialty chemicals company’s stock worth $722,000 after purchasing an additional 371 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on PPG shares. BNP Paribas Exane boosted their target price on shares of PPG Industries from $115.00 to $116.00 in a research note on Thursday, April 30th. Citigroup upped their target price on shares of PPG Industries from $114.00 to $125.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. Mizuho raised their target price on shares of PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. decreased their price target on shares of PPG Industries from $126.00 to $125.00 in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group dropped their price objective on PPG Industries from $134.00 to $130.00 in a research note on Friday, May 1st. Six analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $124.40.

PPG Industries Stock Up 1.1%

Shares of PPG Industries stock opened at $122.65 on Thursday. 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 stock has a market cap of $27.34 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 1.77 and a beta of 1.05. The firm’s 50-day moving average is $112.56 and its two-hundred day moving average is $111.66. PPG Industries, Inc. has a 1 year low of $93.39 and a 1 year high of $133.43.

PPG Industries (NYSE:PPG) last posted its quarterly earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.78 by $0.05. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The business had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.85 billion. During the same quarter in the previous year, the business posted $1.72 EPS. The company’s quarterly revenue 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, research analysts expect that PPG Industries, Inc. will post 7.92 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, May 11th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Monday, May 11th. PPG Industries’s dividend payout ratio (DPR) is 40.51%.

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.