Swedbank AB Increases Stock Position in PPG Industries, Inc. $PPG

Swedbank AB grew its holdings in PPG Industries, Inc. (NYSE:PPG) by 3.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 198,495 shares of the specialty chemicals company’s stock after purchasing an additional 6,488 shares during the quarter. Swedbank AB owned approximately 0.09% of PPG Industries worth $21,215,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PPG. Nvest Wealth Strategies Inc. purchased a new stake in shares of PPG Industries in the fourth quarter valued at $505,000. Cooke & Bieler LP increased its position in PPG Industries by 16.7% during the 4th quarter. Cooke & Bieler LP now owns 1,616,672 shares of the specialty chemicals company’s stock worth $165,644,000 after purchasing an additional 231,537 shares in the last quarter. Wellington Management Group LLP raised its stake in PPG Industries by 19.9% in 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 purchasing an additional 2,521,004 shares during the last quarter. Equity Investment Corp raised its stake in PPG Industries by 3.4% in the 4th quarter. Equity Investment Corp now owns 995,323 shares of the specialty chemicals company’s stock valued at $101,981,000 after purchasing an additional 32,337 shares during the last quarter. Finally, Mather Group LLC. lifted its holdings in PPG Industries by 10.3% in the 4th quarter. Mather Group LLC. now owns 142,340 shares of the specialty chemicals company’s stock valued at $14,584,000 after purchasing an additional 13,254 shares in the last quarter. 81.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wells Fargo & Company decreased their price target on shares of PPG Industries from $135.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, April 10th. Citigroup upped their price objective on shares of PPG Industries from $114.00 to $125.00 and gave the company a “neutral” rating in a research note on Wednesday, June 24th. JPMorgan Chase & Co. decreased their target price on shares of PPG Industries from $126.00 to $125.00 in a research report on Thursday, April 30th. Jefferies Financial Group lowered their target price on shares of PPG Industries from $125.00 to $116.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. Finally, BMO Capital Markets cut their price target on PPG Industries from $140.00 to $138.00 and set an “outperform” rating for the company in a report on Monday. Six equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $124.93.

PPG Industries Stock Up 1.6%

Shares of NYSE PPG opened at $116.12 on Friday. The stock has a market capitalization of $25.88 billion, a PE ratio of 16.57, a P/E/G ratio of 1.67 and a beta of 1.05. The company has a quick ratio of 1.17, a current ratio of 1.61 and a debt-to-equity ratio of 0.78. The firm has a fifty day moving average of $113.85 and a 200-day moving average of $112.40. PPG Industries, Inc. has a 52-week low of $93.39 and a 52-week high of $133.43.

PPG Industries (NYSE:PPG) last issued its earnings results on Tuesday, April 28th. The specialty chemicals company reported $1.83 earnings per share 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 business had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same period last year, the company posted $1.72 EPS. The business’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. On average, analysts anticipate that PPG Industries, Inc. will post 7.93 EPS for the current year.

PPG Industries Dividend Announcement

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