Norges Bank Acquires Shares of 2,043,285 PPG Industries, Inc. $PPG

Norges Bank acquired a new stake in shares of PPG Industries, Inc. (NYSE:PPG) during the fourth quarter, Holdings Channel.com reports. The firm acquired 2,043,285 shares of the specialty chemicals company’s stock, valued at approximately $209,355,000.

Other hedge funds have also bought and sold shares of the company. IFP Advisors Inc grew its holdings in shares of PPG Industries by 2.7% in the fourth quarter. IFP Advisors Inc now owns 3,302 shares of the specialty chemicals company’s stock worth $338,000 after purchasing an additional 87 shares during the last quarter. Whittier Trust Co. grew its holdings in shares of PPG Industries by 1.4% in the fourth quarter. Whittier Trust Co. now owns 6,658 shares of the specialty chemicals company’s stock worth $703,000 after purchasing an additional 89 shares during the last quarter. Applied Capital LLC FL grew its holdings in shares of PPG Industries by 1.5% in the fourth quarter. Applied Capital LLC FL now owns 6,406 shares of the specialty chemicals company’s stock worth $656,000 after purchasing an additional 95 shares during the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of PPG Industries by 1.8% in the fourth quarter. Concurrent Investment Advisors LLC now owns 5,313 shares of the specialty chemicals company’s stock worth $544,000 after purchasing an additional 95 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in shares of PPG Industries by 6.6% in the second quarter. Lazard Asset Management LLC now owns 1,576 shares of the specialty chemicals company’s stock worth $179,000 after purchasing an additional 97 shares during the last quarter. Institutional investors own 81.86% of the company’s stock.

PPG Industries Stock Up 1.4%

Shares of PPG Industries stock opened at $113.59 on Wednesday. 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 1 year low of $93.39 and a 1 year high of $133.43. The firm’s 50-day moving average is $107.64 and its two-hundred day moving average is $108.69. The stock has a market cap of $25.32 billion, a price-to-earnings ratio of 16.20, a PEG ratio of 1.64 and a beta of 1.06.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.93 billion for the quarter, compared to analysts’ expectations of $3.85 billion. During the same period in the prior year, the business earned $1.72 EPS. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. 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 7.93 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Monday, May 11th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 2.5%. The ex-dividend date is Monday, May 11th. PPG Industries’s dividend payout ratio is presently 40.51%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PPG. Wells Fargo & Company cut their price target on shares of PPG Industries from $135.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, April 10th. Citigroup upped their price target on shares of PPG Industries from $113.00 to $114.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. JPMorgan Chase & Co. cut their price target on shares of PPG Industries from $126.00 to $125.00 in a report on Thursday, April 30th. UBS Group upped their price target on shares of PPG Industries from $110.00 to $116.00 and gave the stock a “neutral” rating in a report on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of PPG Industries from $120.00 to $130.00 in a report on Friday, March 27th. Five analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat, PPG Industries presently has a consensus 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.