Hsbc Holdings PLC Acquires Shares of 686,686 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 the company in its most recent filing 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.

Other hedge funds have also recently modified their holdings of the company. Meeder Asset Management Inc. bought a new position in shares of PPG Industries during the second quarter worth $26,000. Resources Management Corp CT ADV increased its holdings in PPG Industries by 900.0% in the 4th quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 225 shares during the last quarter. Quarry LP purchased a new stake in PPG Industries in the 3rd quarter worth $26,000. Keating Financial Advisory Services Inc. purchased a new stake in PPG Industries in the 2nd quarter worth $28,000. Finally, Silvant Capital Management LLC bought a new position in shares of PPG Industries during the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 81.86% of the company’s stock.

PPG Industries Trading Up 0.6%

PPG opened at $114.33 on Thursday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.58. The stock’s 50 day moving average price is $116.95 and its 200-day moving average price is $113.79. PPG Industries, Inc. has a one year low of $93.39 and a one year high of $133.43. The stock has a market cap of $25.42 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 1.65 and a beta of 1.07.

PPG Industries (NYSE:PPG) last issued its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.02). PPG Industries had a return on equity of 21.07% and a net margin of 9.57%.The business had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.37 billion. During the same period in the prior year, the business posted $2.22 earnings per share. PPG Industries’s revenue was up 7.2% on a year-over-year basis. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. On average, equities analysts forecast that PPG Industries, Inc. will post 7.89 EPS for the current year.

PPG Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Monday, August 10th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 2.6%. This is a positive change from PPG Industries’s previous quarterly dividend of $0.71. The ex-dividend date is Monday, August 10th. PPG Industries’s dividend payout ratio is 42.41%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. 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 research report on Thursday, July 30th. Wall Street Zen lowered PPG Industries from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. BNP Paribas Exane raised their price target on PPG Industries from $115.00 to $116.00 in a report on Thursday, April 30th. Bank of America raised PPG Industries from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $127.00 to $134.00 in a research note on Friday, July 17th. Finally, Mizuho upped their price objective on PPG Industries from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Seven investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, PPG Industries presently has a consensus rating of “Hold” and an average price target of $126.00.

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.