Y Intercept Hong Kong Ltd Takes Position in PPG Industries, Inc. $PPG

Y Intercept Hong Kong Ltd purchased a new position in shares of PPG Industries, Inc. (NYSE:PPG) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 83,653 shares of the specialty chemicals company’s stock, valued at approximately $8,941,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nvest Wealth Strategies Inc. acquired a new stake in shares of PPG Industries in the 4th quarter valued at about $505,000. Cooke & Bieler LP grew its stake in PPG Industries by 16.7% in the fourth quarter. Cooke & Bieler LP now owns 1,616,672 shares of the specialty chemicals company’s stock worth $165,644,000 after purchasing an additional 231,537 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in PPG Industries by 1.5% in the third quarter. Dimensional Fund Advisors LP now owns 3,020,138 shares of the specialty chemicals company’s stock worth $317,421,000 after purchasing an additional 43,702 shares in the last quarter. Wellington Management Group LLP increased its holdings in PPG Industries by 19.9% in the third quarter. Wellington Management Group LLP now owns 15,159,770 shares of the specialty chemicals company’s stock valued at $1,593,443,000 after buying an additional 2,521,004 shares during the last quarter. Finally, Mather Group LLC. increased its holdings in PPG Industries by 10.3% in the fourth quarter. Mather Group LLC. now owns 142,340 shares of the specialty chemicals company’s stock valued at $14,584,000 after buying an additional 13,254 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Price Performance

Shares of PPG opened at $125.30 on Friday. The company has a market cap of $27.93 billion, a P/E ratio of 17.87, a PEG ratio of 1.83 and a beta of 1.05. The stock has a fifty day moving average price of $113.12 and a 200 day moving average price of $111.91. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.61 and a quick ratio of 1.17. PPG Industries, Inc. has a 12 month low of $93.39 and a 12 month high of $133.43.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share 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 analyst estimates of $3.85 billion. During the same period last year, the company earned $1.72 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, research analysts forecast that PPG Industries, Inc. will post 7.93 earnings per share for the current year.

PPG Industries Dividend Announcement

The company 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. The ex-dividend date was Monday, May 11th. This represents a $2.84 annualized dividend and a yield of 2.3%. PPG Industries’s dividend payout ratio (DPR) is currently 40.51%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PPG. BMO Capital Markets increased their target price on PPG Industries from $135.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, June 15th. JPMorgan Chase & Co. lowered their price target on PPG Industries from $126.00 to $125.00 in a report on Thursday, April 30th. Royal Bank Of Canada reissued a “sector perform” rating and set a $119.00 price target on shares of PPG Industries in a research report on Wednesday, June 10th. UBS Group raised their price objective on PPG Industries from $110.00 to $116.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Finally, Citigroup boosted their target price on shares of PPG Industries from $114.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. Six investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $124.40.

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.