Hsbc Holdings PLC Takes $83.24 Million Position in PPG Industries, Inc. $PPG

Hsbc Holdings PLC acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 686,686 shares of the specialty chemicals company’s stock, valued at approximately $83,242,000. Hsbc Holdings PLC owned about 0.31% of PPG Industries at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PPG. BlackRock Inc. purchased a new stake in shares of PPG Industries during the 2nd quarter valued at about $2,856,392,000. State Street Corp raised its holdings in shares of 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 valued at $1,314,529,000 after purchasing an additional 565,523 shares during the last quarter. Pzena Investment Management LLC bought a new position in PPG Industries during the second quarter valued at approximately $946,964,000. Franklin Resources Inc. lifted its position in PPG Industries by 48.9% during the fourth 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 during the period. Finally, First Eagle Investment Management LLC boosted its holdings in PPG Industries by 0.4% in the fourth 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 last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Up 0.6%

Shares of PPG stock opened at $114.33 on Thursday. The company has a market capitalization of $25.42 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 1.65 and a beta of 1.07. PPG Industries, Inc. has a one year low of $93.39 and a one year high of $133.43. The company’s fifty day moving average price is $116.95 and its 200-day moving average price is $113.79. 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 released 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). PPG Industries had a net margin of 9.57% and a return on equity of 21.07%. The firm had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.37 billion. During the same quarter last year, the firm posted $2.22 EPS. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. Sell-side analysts expect that PPG Industries, Inc. will post 7.89 EPS for the current fiscal year.

PPG Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be given a $0.74 dividend. The ex-dividend date 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 (DPR) is presently 42.41%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group decreased their target price on shares of PPG Industries from $134.00 to $130.00 in a research note on Friday, May 1st. Wall Street Zen downgraded PPG Industries from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Royal Bank Of Canada cut their price objective on PPG Industries from $129.00 to $122.00 and set a “sector perform” rating for the company in a report on Thursday, July 30th. Weiss Ratings upgraded PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, June 17th. Finally, BNP Paribas Exane raised their target price on PPG Industries from $115.00 to $116.00 in a research report on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $126.00.

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.