Sumitomo Mitsui Trust Group Inc. Reduces Stock Holdings in PPG Industries, Inc. $PPG

Sumitomo Mitsui Trust Group Inc. decreased its position in PPG Industries, Inc. (NYSE:PPG) by 4.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 619,919 shares of the specialty chemicals company’s stock after selling 31,115 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.28% of PPG Industries worth $66,257,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PPG. Wellington Management Group LLP boosted its stake in shares of 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 valued at $1,593,443,000 after purchasing an additional 2,521,004 shares during the period. State Street Corp increased its stake in PPG Industries by 4.6% during the 4th quarter. State Street Corp now owns 12,829,677 shares of the specialty chemicals company’s stock worth $1,314,529,000 after buying an additional 565,523 shares during the period. Pzena Investment Management LLC lifted its holdings in PPG Industries by 5.4% in the 1st quarter. Pzena Investment Management LLC now owns 7,478,646 shares of the specialty chemicals company’s stock worth $799,318,000 after buying an additional 379,879 shares in the last quarter. Franklin Resources Inc. boosted its position in PPG Industries by 48.9% in the 4th quarter. Franklin Resources Inc. now owns 6,990,595 shares of the specialty chemicals company’s stock valued at $716,256,000 after buying an additional 2,295,118 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its position in PPG Industries by 0.4% in the 4th quarter. First Eagle Investment Management LLC now owns 6,290,622 shares of the specialty chemicals company’s stock valued at $644,537,000 after buying an additional 26,793 shares during the last quarter. 81.86% of the stock is owned by institutional investors and hedge funds.

PPG Industries Stock Up 0.7%

NYSE PPG traded up $0.80 on Friday, hitting $116.76. 1,825,516 shares of the stock traded hands, compared to its average volume of 1,981,030. The company has a current ratio of 1.61, a quick ratio of 1.17 and a debt-to-equity ratio of 0.78. The stock has a 50-day moving average of $114.09 and a 200 day moving average of $112.43. PPG Industries, Inc. has a twelve month low of $93.39 and a twelve month high of $133.43. The company has a market capitalization of $26.03 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 1.70 and a beta of 1.05.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.78 by $0.05. PPG Industries had a return on equity of 21.68% and a net margin of 9.83%.The company had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.85 billion. During the same quarter last year, the firm earned $1.72 EPS. The business’s 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, analysts expect that PPG Industries, Inc. will post 7.93 earnings per share for the current fiscal year.

PPG Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Monday, May 11th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Monday, May 11th. PPG Industries’s payout ratio is currently 40.51%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their target price on PPG Industries from $120.00 to $130.00 in a research report on Friday, March 27th. Mizuho raised their price objective on PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Jefferies Financial Group cut their target price on PPG Industries from $125.00 to $116.00 and set a “hold” rating on the stock in a research report on Thursday, March 26th. The Goldman Sachs Group reduced their target price on PPG Industries from $134.00 to $130.00 in a research note on Friday, May 1st. Finally, Royal Bank Of Canada raised their price target on shares of PPG Industries from $119.00 to $129.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $124.93.

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.