Hsbc Holdings PLC Sells 14,495 Shares of PPG Industries, Inc. $PPG

Hsbc Holdings PLC cut its stake in PPG Industries, Inc. (NYSE:PPG) by 2.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 604,482 shares of the specialty chemicals company’s stock after selling 14,495 shares during the period. Hsbc Holdings PLC owned approximately 0.27% of PPG Industries worth $68,744,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Advisors Ltd. LLC lifted its holdings in shares of PPG Industries by 127.6% in the second quarter. Capital Advisors Ltd. LLC now owns 223 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 125 shares in the last quarter. Cheviot Value Management LLC bought a new position in shares of PPG Industries during the first quarter worth about $26,000. Gladwyn Financial Advisors Inc. acquired a new stake in PPG Industries in the 2nd quarter valued at approximately $31,000. Headlands Technologies LLC bought a new stake in PPG Industries in the 1st quarter valued at approximately $30,000. Finally, Vermillion & White Wealth Management Group LLC lifted its stake in PPG Industries by 100.7% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 273 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 137 shares in the last quarter. Institutional investors and hedge funds own 81.86% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PPG. Mizuho lowered their price objective on shares of PPG Industries from $135.00 to $125.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. JPMorgan Chase & Co. boosted their price target on shares of PPG Industries from $112.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st. Zacks Research downgraded shares of PPG Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, November 10th. Bank of America lowered their target price on PPG Industries from $131.00 to $129.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Finally, Citigroup dropped their target price on PPG Industries from $124.00 to $120.00 and set a “buy” rating on the stock in a report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, PPG Industries has a consensus rating of “Hold” and an average target price of $123.58.

PPG Industries Stock Up 0.2%

Shares of PPG stock opened at $100.04 on Friday. PPG Industries, Inc. has a 52-week low of $90.24 and a 52-week high of $130.05. The stock has a market cap of $22.45 billion, a price-to-earnings ratio of 22.68, a PEG ratio of 2.13 and a beta of 1.19. The firm’s 50-day moving average is $100.29 and its 200-day moving average is $107.80. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.04 and a current ratio of 1.47.

PPG Industries (NYSE:PPG) last announced its quarterly earnings results on Tuesday, October 28th. The specialty chemicals company reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.04. PPG Industries had a return on equity of 24.17% and a net margin of 6.35%.The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the previous year, the business earned $2.13 earnings per share. The business’s revenue was up 1.2% compared to the same quarter last year. PPG Industries has set its FY 2025 guidance at 7.600-7.700 EPS. Sell-side analysts predict that PPG Industries, Inc. will post 7.95 EPS for the current year.

PPG Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Monday, November 10th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $2.84 annualized dividend and a yield of 2.8%. PPG Industries’s dividend payout ratio (DPR) is currently 64.40%.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials in the United States, Canada, the Asia Pacific, Latin America, Europe, the Middle East, and Africa. It operates through two segments, Performance Coatings and Industrial Coatings. The Performance Coatings segment offers coatings, solvents, adhesives, sealants, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; wood stains; paints, thermoplastics, pavement marking products, and other advanced technologies for pavement marking for government, commercial infrastructure, painting, and maintenance contractors; and coatings, sealants, transparencies, transparent armor, adhesives, engineered materials, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.