Evelyn Partners Asset Management Ltd Sells 10,320 Shares of PPG Industries, Inc. $PPG

Evelyn Partners Asset Management Ltd decreased its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 22.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,824 shares of the specialty chemicals company’s stock after selling 10,320 shares during the quarter. Evelyn Partners Asset Management Ltd’s holdings in PPG Industries were worth $3,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of PPG. Pzena Investment Management LLC raised its holdings in PPG Industries by 306.2% during the 4th quarter. Pzena Investment Management LLC now owns 7,098,767 shares of the specialty chemicals company’s stock valued at $727,340,000 after acquiring an additional 5,351,103 shares during the period. Wellington Management Group LLP raised its holdings in PPG Industries by 19.9% during the 3rd 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 acquiring an additional 2,521,004 shares during the period. Franklin Resources Inc. raised its holdings in PPG Industries by 48.9% during 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 acquiring an additional 2,295,118 shares during the period. Norges Bank bought a new stake in PPG Industries during the 4th quarter valued at $209,355,000. Finally, Bank of Montreal Can raised its holdings in PPG Industries by 254.9% during the 4th quarter. Bank of Montreal Can now owns 1,334,707 shares of the specialty chemicals company’s stock valued at $136,754,000 after acquiring an additional 958,580 shares during the period. Institutional investors own 81.86% of the company’s stock.

Analysts Set New Price Targets

PPG has been the topic of a number of analyst reports. Citigroup boosted their target price on shares of PPG Industries from $113.00 to $114.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Evercore upped their price target on shares of PPG Industries from $112.00 to $128.00 in a report on Wednesday, February 18th. 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. Jefferies Financial Group decreased their price target on shares of PPG Industries from $125.00 to $116.00 and set a “hold” rating on the stock in a report on Thursday, March 26th. Finally, Weiss Ratings cut shares of PPG Industries from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, June 2nd. Five analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $121.79.

PPG Industries Stock Up 0.9%

PPG opened at $119.27 on Friday. The stock has a market cap of $26.59 billion, a PE ratio of 17.01, a P/E/G ratio of 1.74 and a beta of 1.06. 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 business’s fifty day simple moving average is $109.55 and its 200 day simple moving average is $109.75.

PPG Industries (NYSE:PPG) last released its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.05. The business had revenue of $3.93 billion for 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%.The firm’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.72 earnings per share. 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 7.92 earnings per share for the current fiscal year.

PPG Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Monday, May 11th were paid 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 dividend payout ratio is currently 40.51%.

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.