PPG Industries, Inc. $PPG Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lessened its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 59.1% in the 1st quarter, HoldingsChannel reports. The firm owned 3,635 shares of the specialty chemicals company’s stock after selling 5,262 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in PPG Industries were worth $389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PPG. Diversified Trust Co boosted its holdings in PPG Industries by 4.2% in the first quarter. Diversified Trust Co now owns 62,323 shares of the specialty chemicals company’s stock valued at $6,661,000 after purchasing an additional 2,519 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of PPG Industries by 29.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 17,689 shares of the specialty chemicals company’s stock valued at $1,813,000 after buying an additional 4,076 shares during the last quarter. Advisortrust Partners LLC purchased a new position in shares of PPG Industries during the 4th quarter valued at about $378,000. Pacer Advisors Inc. lifted its holdings in shares of PPG Industries by 21.7% in the 4th quarter. Pacer Advisors Inc. now owns 21,924 shares of the specialty chemicals company’s stock valued at $2,246,000 after buying an additional 3,910 shares during the period. Finally, Kera Capital Partners Inc. lifted its holdings in shares of PPG Industries by 17.9% in the 4th quarter. Kera Capital Partners Inc. now owns 2,449 shares of the specialty chemicals company’s stock valued at $251,000 after buying an additional 371 shares during the period. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on PPG shares. BMO Capital Markets raised 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. Weiss Ratings raised PPG Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, June 17th. Wells Fargo & Company lowered their price objective on PPG Industries from $135.00 to $130.00 and set an “overweight” rating on the stock in a research report on Friday, April 10th. JPMorgan Chase & Co. dropped their price objective on shares of PPG Industries from $126.00 to $125.00 in a research note on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of PPG Industries from $120.00 to $130.00 in a report on Friday, March 27th. Six equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, PPG Industries presently has a consensus rating of “Hold” and a consensus price target of $123.73.

PPG Industries Price Performance

NYSE:PPG opened at $122.28 on Friday. 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 52 week low of $93.39 and a 52 week high of $133.43. The stock’s 50-day moving average price is $111.80 and its 200-day moving average price is $111.06. The stock has a market capitalization of $27.26 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 1.77 and a beta of 1.06.

PPG Industries (NYSE:PPG) last released its quarterly earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.05. The company had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.85 billion. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.PPG Industries’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.72 EPS. PPG Industries has set its FY 2026 guidance at 7.700-8.100 EPS. As a group, equities analysts expect that PPG Industries, Inc. will post 7.92 EPS for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, May 11th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, May 11th. PPG Industries’s dividend payout ratio is presently 40.51%.

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.