PNC Financial Services Group Inc. Has $89.34 Million Stake in PPG Industries, Inc. $PPG

PNC Financial Services Group Inc. trimmed its holdings in shares of PPG Industries, Inc. (NYSE:PPG) by 2.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 835,914 shares of the specialty chemicals company’s stock after selling 21,526 shares during the quarter. PNC Financial Services Group Inc.’s holdings in PPG Industries were worth $89,342,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Dorato Capital Management bought a new position in PPG Industries in the fourth quarter valued at approximately $26,000. Quarry LP bought a new stake in shares of PPG Industries during the 3rd quarter valued at $26,000. Resources Management Corp CT ADV lifted its stake in shares of PPG Industries by 900.0% in the 4th quarter. Resources Management Corp CT ADV now owns 250 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 225 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in shares of PPG Industries in the 4th quarter valued at $30,000. Finally, DV Equities LLC bought a new position in shares of PPG Industries in the 4th quarter worth $32,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PPG. The Goldman Sachs Group decreased their price objective on PPG Industries from $134.00 to $130.00 in a research note on Friday, May 1st. UBS Group increased their target price on PPG Industries from $110.00 to $116.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Citigroup raised their target price on PPG Industries from $114.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, June 24th. Bank of America upgraded PPG Industries from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $127.00 to $134.00 in a research report on Friday, July 17th. Finally, Mizuho increased their price target on shares of PPG Industries from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Seven analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, PPG Industries currently has an average rating of “Hold” and an average price target of $126.13.

PPG Industries Stock Up 1.5%

PPG Industries stock opened at $117.40 on Thursday. The company has a current ratio of 1.61, a quick ratio of 1.17 and a debt-to-equity ratio of 0.78. PPG Industries, Inc. has a 1-year low of $93.39 and a 1-year high of $133.43. The company has a fifty day simple moving average of $115.36 and a 200 day simple moving average of $113.21. The company has a market cap of $26.17 billion, a P/E ratio of 16.75, a price-to-earnings-growth ratio of 1.67 and a beta of 1.05.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Tuesday, April 28th. The specialty chemicals company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.05. PPG Industries had a net margin of 9.83% and a return on equity of 21.68%. The company had revenue of $3.93 billion during the quarter, compared to the consensus estimate of $3.85 billion. During the same period in the prior year, the business posted $1.72 EPS. The company’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. Research analysts anticipate that PPG Industries, Inc. will post 7.94 earnings per share for the current fiscal year.

PPG Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 10th will be issued a dividend of $0.74 per share. The ex-dividend date is Monday, August 10th. This is a positive change from PPG Industries’s previous quarterly dividend of $0.71. This represents a $2.96 dividend on an annualized basis and a yield of 2.5%. PPG Industries’s dividend payout ratio is presently 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.