Norges Bank Invests $209.36 Million in PPG Industries, Inc. $PPG

Norges Bank bought a new position in PPG Industries, Inc. (NYSE:PPG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,043,285 shares of the specialty chemicals company’s stock, valued at approximately $209,355,000. Norges Bank owned approximately 0.91% of PPG Industries as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Nvest Wealth Strategies Inc. purchased a new position in shares of PPG Industries in the fourth quarter worth $505,000. First Eagle Investment Management LLC lifted its holdings in shares of PPG Industries by 12.7% in the third quarter. First Eagle Investment Management LLC now owns 6,263,829 shares of the specialty chemicals company’s stock worth $658,391,000 after buying an additional 703,549 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of 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 buying an additional 43,702 shares in the last quarter. Cooke & Bieler LP increased its position 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 during the last quarter. Finally, Wellington Management Group LLP increased its position 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 worth $1,593,443,000 after purchasing an additional 2,521,004 shares during the last quarter. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Up 1.4%

PPG stock opened at $113.59 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 0.78. PPG Industries, Inc. has a twelve month low of $93.39 and a twelve month high of $133.43. The stock has a market capitalization of $25.32 billion, a price-to-earnings ratio of 16.20, a price-to-earnings-growth ratio of 1.64 and a beta of 1.06. The firm’s fifty day simple moving average is $107.64 and its two-hundred day simple moving average is $108.69.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $3.85 billion. During the same quarter in the previous year, the business posted $1.72 earnings per share. The business’s 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, analysts anticipate 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 will be paid on Friday, June 12th. Shareholders of record on Monday, May 11th will be given a dividend of $0.71 per share. The ex-dividend date is Monday, May 11th. This represents a $2.84 dividend on an annualized basis and a yield of 2.5%. PPG Industries’s payout ratio is 40.51%.

Analyst Upgrades and Downgrades

PPG has been the topic of several research reports. JPMorgan Chase & Co. reduced their price target on shares of PPG Industries from $126.00 to $125.00 in a research report on Thursday, April 30th. The Goldman Sachs Group reduced their price target on shares of PPG Industries from $134.00 to $130.00 in a research report on Friday, May 1st. Weiss Ratings restated a “hold (c)” rating on shares of PPG Industries in a research report on Monday, May 11th. Evercore boosted their price target on shares of PPG Industries from $112.00 to $128.00 in a research report on Wednesday, February 18th. Finally, Jefferies Financial Group reduced their price target on shares of PPG Industries from $125.00 to $116.00 and set a “hold” rating on the stock in a research report on Thursday, March 26th. Five equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $121.79.

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.